What are average mortgage rates in Delaware in 2026?

Mortgage rates in Delaware generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Delaware mortgage calculator to model your payment at current rates.

How much are closing costs in Delaware?

Closing costs in Delaware typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Delaware mortgage calculator to include closing costs in your calculation.

What are property tax rates in Delaware?

Property tax rates in Delaware range from 0.3% to 2.5% of assessed value. CalcDeck's Delaware calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Delaware?

Delaware offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Delaware calculator to see how programs affect your payment.

How do I use the CalcDeck Delaware mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Delaware averages. Get instant monthly payment, total interest, and amortization schedule.

Delaware Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Delaware homeowners.

Delaware at a Glance

Median Home Price: $345,000
Property Tax Rate: 0.55%
Median Household Income: $76,470
Annual Property Tax: $1,898

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Delaware

Based on the Delaware median home price of $345,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$276,000	$327,750
Principal and Interest	$1,781	$2,115
Property Tax (DE)	$158	$158
Homeowners Insurance	$125	$125
PMI	$0	$137
Total Monthly	$2,064	$2,535

How Much House Can You Afford in Delaware?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$88,461/year to afford Delaware's median home
With 5% down, you need ~$108,625/year
Delaware's median household income is $76,470

Delaware insight: Delaware has a low property tax rate of 0.55% — among the lowest in the US.

Delaware Housing Market Overview

Delaware's housing market has seen steady appreciation, with the median home price reaching $345,000 as of recent data. Major metro areas like Wilmington, Newark, and Dover anchor the market, while coastal towns such as Rehoboth Beach and Lewes command higher premiums due to tourism and second-home demand. Inventory remains tight statewide—averaging under two months of supply—keeping upward pressure on prices. The median household income of $76,470 implies a price-to-income ratio of 4.5, above the national average, indicating affordability strain. However, Delaware's low effective property tax rate of 0.55% helps offset some ownership costs. First-time buyers and out-of-state movers, particularly from the Northeast, continue to drive competition in suburban and beach areas.

First-Time Homebuyer Programs in Delaware

The Delaware State Housing Authority (DSHA) administers several first-time homebuyer programs. Its flagship 'Homeownership Program' offers 30-year fixed-rate mortgages with below-market interest rates and down payment assistance up to 5% of the loan amount—typically capped at $15,000—for qualified buyers. DSHA also provides a 'Down Payment Assistance Program' that can be combined with FHA, conventional, or USDA loans. Additionally, the 'Mortgage Credit Certificate (MCC) Program' lets buyers claim a federal tax credit of up to 20% of mortgage interest paid annually, increasing disposable income. Eligibility requires income limits based on county (e.g., $83,000 for a 1-2 person household in New Castle County) and the home must be owner-occupied. Buyers must complete a HUD-approved homebuyer education course.

Tips for Homebuyers in Delaware

1) Factor in Delaware's 4% realty transfer tax—split between buyer and seller—so budget $6,900 on a $345,000 home. 2) Property taxes vary by county: New Castle rates are higher than Sussex; the 0.55% effective rate is a statewide average, so check tax records for specific parcels. 3) Coastal homes need flood insurance; FEMA flood zones are common in Sussex County, adding $700–$2,000 annually to ownership costs. 4) Radon is prevalent in Delaware; include a radon test in your inspection—mitigation runs $800–$1,500 if levels exceed 4 pCi/L. 5) Spring and summer are peak buying seasons, especially in beach towns—start searching in late winter for less competition and better negotiation leverage. 6) Wells and septic systems are common in Kent and Sussex counties; budget $500+ for separate well water quality and septic inspections.

Try the Mortgage Calculator with Your Numbers

Delaware Mortgage FAQ

What is the median home price in Delaware?

The median home price in Delaware is approximately $345,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Delaware?

The effective property tax rate in Delaware is approximately 0.55% (Tax Foundation). On a $345,000 home, that is about $1,898/year in property taxes.

How much income do I need to buy a home in Delaware?

Using the 28/36 rule with 20% down at 6.7%, you would need about $88,461/year to afford the median Delaware home at $345,000. With 5% down (including PMI), about $108,625.

What will my monthly mortgage payment be in Delaware?

On Delaware's median home price of $345,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $2,064. With 5% down including PMI, about $2,535.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.