Mortgage Affordability Calculator for Delaware (DE) — Free Calculator

Buying a Home in Delaware: What You Can Afford

The median home value in Delaware is $340,000. Delaware home prices have risen sharply since 2020, particularly in Sussex County near the beaches, up 35%+. Wilmington and New Castle County are more moderately priced.

Conforming Loan Limits in Delaware

The conforming loan limit in Delaware is $726,200. All Delaware counties are at the standard conforming limit. Loans above this threshold are considered jumbo loans and typically carry stricter qualification requirements and slightly higher rates.

Property Taxes to Budget For

Beyond your mortgage payment, budget for Delaware's property taxes: the effective rate is 0.57%, meaning a home at the median value generates about $1,570/year in taxes. This is a real cost that lenders include in your debt-to-income (DTI) calculation.

Closing Costs in Delaware

Buyers typically pay around $2,900 in closing costs in Delaware. Delaware charges a 4% real estate transfer tax (split between buyer and seller at 2% each), which is among the higher transfer taxes nationally. Factor this into your upfront cash requirement alongside your down payment.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

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Frequently Asked Questions

What is the median home price in Delaware?

The median home value in Delaware is $340,000. Delaware home prices have risen sharply since 2020, particularly in Sussex County near the beaches, up 35%+. Wilmington and New Castle County are more moderately priced.

What is the conforming loan limit in Delaware?

The conforming loan limit in most of Delaware is $726,200. All Delaware counties are at the standard conforming limit.

How much are property taxes in Delaware?

Delaware's effective property tax rate is 0.57%, with an average annual bill of $1,570. Lenders include property taxes in your monthly PITI payment and DTI calculation.

How much do I need for a down payment in Delaware?

For a home at Delaware's median value of $340,000, a 20% conventional down payment is $68,000, and a 3.5% FHA down payment is $11,900. Budget an additional $2,900 for closing costs.