The typical owner-occupied home in Hockessin is worth about $568,800, 62% above the Delaware median of $352,000 and 71% above the national median of $332,700. Owners pay a median $4,425 a year in property taxes, about 0.78% of their home's value, higher than the Delaware rate of 0.50%. The median household earns $171,204 a year, so the median home costs 3.3 times the median income (4.1 times for Delaware). 90% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Hockessin at a glance
| Hockessin | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $568,800 | $352,000 | $332,700 |
| Median property tax paid per year | $4,425 | $1,768 | $3,119 |
| Property tax as a share of value | 0.78% | 0.50% | 0.94% |
| Median household income | $171,204 | $84,954 | $80,734 |
| Homes lived in by their owners | 90% | 73% | 65% |
| Owner homes with a mortgage | 60% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,996 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 16.9% | 20.0% | 21.0% |
| Median rent | $3,501 | $1,401 | $1,413 |
| Rent as a share of renters' income | 33.3% | 29.9% | 30.6% |
| Median year homes were built | 1981 | 1987 | 1980 |
| Vacant homes | 3.5% | 13.4% | 10.1% |
| Population | 13,439 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Hockessin
At this week's average 30-year rate of 7.11%, buying the median Hockessin home of $568,800 with 20% down costs about $3,668 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,615, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $157,191 for the 20%-down payment. That payment is 26% of the median Hockessin household income of $171,204; at that income and 20% down, the 28% guideline points to a home of about $620,000.
The median rent here is $3,501 a month, so owning the median home costs about $167 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $113,760 |
|---|---|
| Loan amount | $455,040 |
| Principal and interest | $3,061 |
| Property taxes (0.78% a year) | $370 |
| Homeowners insurance (our estimate, 0.5% a year) | $237 |
| PMI | $0 |
| Total per month | $3,668 |
Change the numbers in the calculator
| Down payment | $19,908 |
|---|---|
| Loan amount | $558,498 |
| Principal and interest | $3,757 |
| Property taxes (0.78% a year) | $370 |
| Homeowners insurance (our estimate, 0.5% a year) | $237 |
| FHA mortgage insurance | $252 |
| Total per month | $4,615 |
Change the numbers in the calculator
Questions about home buying in Hockessin
What is the median home value in Hockessin?
About $568,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hockessin?
Homeowners pay a median $4,425 a year, which is about 0.78% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hockessin?
For the median home with 20% down at 7.11%, the payment is about $3,668 a month. Keeping that under 28% of gross income takes about $157,191 a year.
More about Hockessin
- Mortgage Refinance in Hockessin
- Debt Relief in Hockessin
- Home Equity Loans in Hockessin
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data