Calculate your monthly mortgage payment in Delaware using the 2026 median home price of $352K and current local rates. Adjust the inputs below. Formula shown, sources cited โ no account required.
Delaware draws buyers from across the Mid-Atlantic for one compelling financial reason: no state sales tax. That advantage extends to the car purchase process and general consumer spending, but the housing market has its own cost profile to understand. The median home price is $352,000, with property taxes averaging a low 0.57% โ about $2,006 per year on the median home. Where Delaware stands out on the cost side is closing costs: at an average of 2.9%, Delaware has one of the highest closing cost rates in the country. On a $352,000 purchase, that comes to roughly $10,208 at signing. The state charges a realty transfer tax of 4% split between buyer and seller, which drives that high closing cost average. The DSHA First-Time Homebuyer program and the SMAL Program provide assistance for eligible buyers. Use the mortgage calculator to account for both the low property tax and the significant upfront closing costs.
How Mortgage Payments Work in Delaware
A standard mortgage payment in Delaware is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]
Where P is the loan principal, r is the monthly interest rate (annual rate รท 12), and n is the number of monthly payments. On a $352K home in Delaware with a 10% down payment at 6.51% over 30 years, your principal and interest payment comes to approximately $2,004/monthโ not including property taxes or homeowner's insurance.
Delaware's property tax rate of 0.57% adds roughly $167/month to your total housing cost on a $352K home. This rate is below the national average of ~1.1%, which helps keep total housing costs lower.
Delaware vs. National Average
| Metric | Delaware | National Avg |
|---|
| Median Home Price | $352,000 | $420,000 |
| Property Tax Rate | 0.57% | 1.07% |
| Avg Mortgage Rate | 6.51% | 6.85% |
| Cost of Living Index | 103.1 | 100 |