CALCMONEY // HOME AFFORDABILITY // DE
Find out how much home you can afford in Delaware using local median home prices, current mortgage rates, and DE-specific property tax data.
Open Full Calculator$355,000
$2,196/mo
$260,555
$94,135/yr
| Median Home Price | $355,000 |
| Down Payment (20%) | $71,000 |
| Loan Amount | $284,000 |
| Monthly PI Payment | $1,880 |
| Monthly Property Tax | $169 |
| Monthly Insurance Est. | $148 |
| Total Monthly PITI | $2,196 |
| Required Gross Income (28% rule) | $94,135/yr |
| Max Affordable Price (28% rule) | $260,555 |
$12,425
$2,827/mo
Delaware Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $355,000 | State median |
| Down Payment (20%) | $71,000 | Conventional |
| Monthly PITI (median home) | $2,196 | 6.95% rate |
| Required Income (28% rule) | $94,135 | Annual gross |
| Max Affordable Home | $260,555 | Based on median income |
| FHA Down Payment (3.5%) | $12,425 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Delaware is $355,000, with a current 30-year fixed mortgage rate of 6.95%. A buyer putting 20% down on the median home would carry a loan of $284,000, resulting in a monthly principal and interest payment of $1,880. Once property taxes and insurance are added, total monthly housing costs reach $2,196.
Property taxes in Delaware average 0.57%, well below the national average of 1.1%. On the median Delaware home, property taxes add $169/month to total housing costs.
Delaware levies a state income tax of 2.2%–6.6%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Delaware state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Delaware's median income of $72,700/year can afford up to $1,696/month in total housing costs (principal, interest, taxes, and insurance). Based on Delaware's current mortgage rate of 6.95% and property tax rate of 0.57%, that translates to a maximum affordable home price of approximately $260,555 with 20% down on a 30-year loan.
To comfortably afford the median Delaware home priced at $355,000, you need an annual gross income of approximately $94,135. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,880, property taxes of $169, and insurance of $148) come to $2,196/month, which should not exceed 28% of your gross monthly income.
Delaware's average property tax rate is 0.57%, which is well below the national average of 1.1%. On the median Delaware home of $355,000, that means annual property taxes of $2,023, or $169/month. Because lenders include property taxes in your debt-to-income calculation, Delaware's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Delaware home of $355,000, that is $12,425. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($71,000 on the median Delaware home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Delaware-specific minimum down payment requirements beyond federal guidelines.