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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.
The conforming loan limit is $726,200. All Delaware counties are at the standard conforming limit. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.
At the median home value of $340,000 with a 20% down payment ($68,000), you'd borrow $272,000. At 7% for 30 years, principal and interest runs approximately $1,810/month. Add property taxes (~$161/mo) and insurance (~$150/mo) for a total PITI estimate.
Budget for Delaware's effective property tax rate of 0.57% (avg. bill: $1,570/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.
First-time buyers in Delaware should budget for closing costs of approximately $2,900. Delaware charges a 4% real estate transfer tax (split between buyer and seller at 2% each), which is among the higher transfer taxes nationally.
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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