Delaware Mortgage Calculator

Mortgage Calculator in Delaware

The median home price in Delaware is $340,000, which is 19% below the national average of $420,000. Delaware's effective property tax rate of 0.57% is 0.53 percentage points lower than the national average of 1.1%.

Metric	Delaware (DE)	National Avg	vs National Average
Median Home Price	$340,000	$420,000	-19%
Property Tax Rate	0.57%	1.1%	-0.53%
Home Insurance (Annual)	$1,200	$2,300	-48%
State Sales Tax	0%	5%	-5.0%
FHA Loan Limit	$472,030	$472,030	Standard
Conforming Loan Limit	$766,550	$766,550	Standard

Homeownership in Delaware

Delaware punches above its size as a financial hub -- it's home to more corporations than any other state due to its business-friendly legal environment, but its residential market is shaped more by proximity to Philadelphia and the Delaware shore. With no state sales tax and a relatively low property tax rate of 0.57%, Delaware offers a genuinely low cost of ownership. The Wilmington metro has seen steady price growth, with the statewide median around $340,000.

Tips for Delaware Homebuyers and Homeowners

• Delaware has no sales tax, which makes large purchases like appliances, furniture, and building materials significantly cheaper than in neighboring Pennsylvania, New Jersey, or Maryland.
• The state's property tax is assessed at 100% of market value but the rates are low -- most counties run well under 1%, making effective ownership costs quite affordable relative to neighboring states.
• Delaware has a realty transfer tax of 4% (split equally between buyer and seller) -- this 2% buyer cost on a $340,000 home adds $6,800 to closing costs.
• Delaware's income tax tops out at 6.6% and there is a $2,000 standard deduction; however, Social Security income is fully exempt, making it attractive for retirees.

Delaware Programs and Assistance

• Delaware State Housing Authority (DSHA) Smart Start Program -- provides below-market rate FHA, VA, or USDA loans paired with down payment and closing cost assistance.
• DSHA Welcome Home Program -- offers moderate-income buyers an interest-free second loan for down payment assistance, forgivable after 10 years.
• Sussex County First-Time Homebuyer Program -- targets buyers in Sussex County with additional local assistance beyond the state-level programs.

Did you know? Delaware is one of only five states with no state sales tax, saving residents an estimated $1,000+ per year compared to the national average -- a meaningful benefit that compounds over years of ownership.