The typical owner-occupied home in Middletown is worth about $409,600, 16% above the Delaware median of $352,000 and 23% above the national median of $332,700. Owners pay a median $2,632 a year in property taxes, about 0.64% of their home's value, higher than the Delaware rate of 0.50%. The median household earns $112,831 a year, so the median home costs 3.6 times the median income (4.1 times for Delaware). 77% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Middletown at a glance
| Middletown | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $409,600 | $352,000 | $332,700 |
| Median property tax paid per year | $2,632 | $1,768 | $3,119 |
| Property tax as a share of value | 0.64% | 0.50% | 0.94% |
| Median household income | $112,831 | $84,954 | $80,734 |
| Homes lived in by their owners | 77% | 73% | 65% |
| Owner homes with a mortgage | 71% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,214 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 20.5% | 20.0% | 21.0% |
| Median rent | $1,583 | $1,401 | $1,413 |
| Rent as a share of renters' income | 23.1% | 29.9% | 30.6% |
| Median year homes were built | 2005 | 1987 | 1980 |
| Vacant homes | 1.3% | 13.4% | 10.1% |
| Population | 24,661 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Middletown
At this week's average 30-year rate of 7.11%, buying the median Middletown home of $409,600 with 20% down costs about $2,593 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,276, 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 $111,147 for the 20%-down payment. That payment is 28% of the median Middletown household income of $112,831; at that income and 20% down, the 28% guideline points to a home of about $416,000.
The median rent here is $1,583 a month, so owning the median home costs about $1,010 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $81,920 |
|---|---|
| Loan amount | $327,680 |
| Principal and interest | $2,204 |
| Property taxes (0.64% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $171 |
| PMI | $0 |
| Total per month | $2,593 |
Change the numbers in the calculator
| Down payment | $14,336 |
|---|---|
| Loan amount | $402,181 |
| Principal and interest | $2,706 |
| Property taxes (0.64% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $171 |
| FHA mortgage insurance | $181 |
| Total per month | $3,276 |
Change the numbers in the calculator
Questions about home buying in Middletown
What is the median home value in Middletown?
About $409,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Middletown?
Homeowners pay a median $2,632 a year, which is about 0.64% 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 Middletown?
For the median home with 20% down at 7.11%, the payment is about $2,593 a month. Keeping that under 28% of gross income takes about $111,147 a year.
More about Middletown
- Mortgage Refinance in Middletown
- Debt Relief in Middletown
- Home Equity Loans in Middletown
- 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