What’s the average mortgage payment in Delaware?

According to data collected from Redfin and Rocket Mortgage, the average monthly mortgage payment in Delaware is around $1,849 before property taxes and insurance. Delaware’s homeowners benefit from a relatively moderate cost of living compared to larger Northeast markets, though the state’s proximity to Philadelphia, Baltimore, and Washington, D.C. contributes to higher-than-average home prices in some counties.

Overview of the Delaware housing market

The median sale price in Delaware is approximately $372,300 as of late 2025, according to Redfin data. Inventory remains limited across the state as the number of new listings has decreased year-over-year, and prices have continued to trend slightly upward due to strong buyer demand and ongoing migration from other states.

Here’s a snapshot of recent median sale prices from Redfin:

Factors that influence mortgage payments in Delaware

Your monthly mortgage payment consists of principal, interest, taxes, and insurance (PITI). Tools like the Rocket Mortgage® mortgage calculator can help you estimate how these factors shape your total monthly cost.

Home price and down payment

Home price has the largest impact on your mortgage payment. A 20% down payment on a typical Delaware home, assuming a 6.5% interest, would result in a monthly payment of $1,883 when only factoring in the principal and interest.

Down payments below 20% typically require private mortgage insurance (PMI), which can add about $200 per month, depending on the buyer’s profile.

Mortgage rate

Your Delaware mortgage rate depends on factors such as:

• Credit score and credit history
• Debt-to-income ratio (DTI)
• Loan type
• Down payment amount
• Home type and location
• Current market conditions

Even minor rate changes can significantly alter monthly payments, especially in pricier Delaware communities.

Loan term

Your loan term plays a significant role in determining your monthly payment. A 30-year fixed mortgage has lower monthly payments because the balance is spread over a longer period. However, this will result in more interest being paid over the course of the loan. A 15-year fixed mortgage means paying more every month but less interest overall, while allowing you to gain equity faster.

Property taxes and insurance

Delaware has below-average property taxes, with an effective property tax rate of roughly 0.53%, depending on the county.

Homeowners insurance costs vary by location. Inland counties tend to be lower-cost, while coastal markets, especially those exposed to wind and flood risk, may see higher premiums.

How do mortgage payments in Delaware compare to others in the region?

Mortgage rates do not vary significantly across states, but average mortgage payments differ due to home values and tax structures.

Here’s how Delaware compares with nearby states:

Delaware’s average payment is lower than major Northeast states like New Jersey and Maryland but higher than Pennsylvania, reflecting a balance of affordability and proximity to major metro areas.

Counties with the highest mortgage payments in Delaware

Based on Q1 2025 median sale prices from the National Association of REALTORS®, here are the counties with the highest estimated monthly mortgage payments:

Sussex County leads the state due to strong demand for coastal homes and growing interest from out-of-state buyers seeking retirement or second-home destinations.

How to calculate your mortgage payment

Lenders use a standard amortization formula to determine your monthly payment, which is based on:

• Loan amount
• Interest rate
• Loan term

Homebuyers can use a mortgage calculator to compare payment scenarios and estimate taxes, insurance, and PMI.

Additional tools from Rocket Mortgage allow buyers to explore refinancing options and understand affordability based on income, debt, and other financial factors.

Delaware-specific mortgage resources

Delaware homebuyers have several statewide programs that can help reduce upfront costs or lower monthly payments:

• Delaware State Housing Authority (DSHA): Offers affordable mortgage programs and assistance with down payments and closing costs for eligible buyers.
• DSHA Preferred Plus Down Payment Assistance: Provides loans that can be used toward a buyer’s down payment or closing costs.

Average mortgage payment in Delaware FAQ

Where can I find the lowest mortgage payment in Delaware?

The lowest mortgage payments in Delaware can typically be found in Kent County, where median home prices are lower than in coastal or northern regions. Smaller cities like Dover and Smyrna offer more budget-friendly options for first-time buyers.

Which county has the highest mortgage payment in Delaware?

Sussex County has the highest estimated monthly mortgage payment in Delaware at about $2,530.

How much do you need to make to afford a home in Delaware?

Using the standard “28/36” rule, a typical household should spend no more than 28% of gross monthly income on housing. With an average mortgage payment of $1,849, a Delaware household might ideally earn around $6,600 per month, or roughly $80,000 annually, depending on property taxes, loan type, and insurance costs.

The bottom line: Multiple factors shape your mortgage payment in Delaware

Delaware’s housing market offers a blend of affordability and coastal demand, with mortgage payments varying significantly by county.

Whether you’re a first-time buyer or an experienced homeowner, get prequalified for a loan with Rocket Mortgage to understand your buying power and begin the process with confidence.

*Methodology: Average monthly mortgage payment in a region, calculated based on average home purchase price for a fixed 30-year loan and a 52-week average interest rate of 6.68% from Freddie Mac as of August 2025.

This article is for informational purposes only and is not intended to provide financial, investment, or tax advice. You should consult a qualified financial or tax professional before making decisions regarding your retirement funds or mortgage.

Rocket Mortgage is a VA-approved lender, not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

Rocket Mortgage is not acting on behalf of FHA or HUD.

The 3% down payment option is only available on certain conventional loan products and is not available in all states. Additional terms and conditions may apply.