Wilmington, DE mortgage & affordability calculator
The typical home in Wilmington, DE is worth about $290,000.
With 20% down that's a loan near $232,000 — the calculator
is pre-filled with that figure. Delaware's lack of a sales tax and below-average property tax rate make Wilmington one of the more affordable options within easy reach of Philadelphia, and the state's status as the corporate-charter capital of the country keeps a base of high-paying legal and financial jobs in the metro. New Castle County reassessed properties for the first time in decades in 2021, catching some longtime owners off guard with higher bills.
$1,593.68 / month
Total interest
$341,724
Total paid
$573,724
Payoff
30.0 years
How much you need to earn
Wilmington, DE's median household income is about
$78,000 a year. Under standard 28/36
lending rules that supports a home price around
$289,707 with 20% down —
below the $290,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Wilmington, DE is about $1,600 a month, so owning the median home costs roughly
$222 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Wilmington, DE?
On the metro's roughly $290,000 typical home with 20% down, the loan is about $232,000. Principal and interest run near $1,594 a month at today's rate, and Wilmington, DE's property tax plus insurance add about $228, for a full payment near $1,822.
Can I afford a home in Wilmington, DE on the median income?
The median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $289,707 with 20% down — below the $290,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Wilmington, DE?
Typical asking rent is about $1,600 a month. The full owner payment on a median home is near $1,822, so owning costs roughly $222 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Wilmington, DE?
The effective property tax rate in the core county is about 0.60% of market value — roughly $1,740 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Wilmington, DE rising or falling?
Home values are up about 4% over the past year. Delaware's lack of a sales tax and below-average property tax rate make Wilmington one of the more affordable options within easy reach of Philadelphia, and the state's status as the corporate-charter capital of the country keeps a base of high-paying legal and financial jobs in the metro. New Castle County reassessed properties for the first time in decades in 2021, catching some longtime owners off guard with higher bills.