The typical owner-occupied home in Wilmington is worth about $231,400, 34% below the Delaware median of $352,000 and 30% below the national median of $332,700. Owners pay a median $1,864 a year in property taxes, about 0.81% of their home's value, higher than the Delaware rate of 0.50%. The median household earns $58,671 a year, so the median home costs 3.9 times the median income (4.1 times for Delaware). 48% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Wilmington at a glance
| Wilmington | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $231,400 | $352,000 | $332,700 |
| Median property tax paid per year | $1,864 | $1,768 | $3,119 |
| Property tax as a share of value | 0.81% | 0.50% | 0.94% |
| Median household income | $58,671 | $84,954 | $80,734 |
| Homes lived in by their owners | 48% | 73% | 65% |
| Owner homes with a mortgage | 68% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,579 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 20.4% | 20.0% | 21.0% |
| Median rent | $1,224 | $1,401 | $1,413 |
| Rent as a share of renters' income | 31.0% | 29.9% | 30.6% |
| Median year homes were built | 1946 | 1987 | 1980 |
| Vacant homes | 10.9% | 13.4% | 10.1% |
| Population | 71,727 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Wilmington
At this week's average 30-year rate of 7.11%, buying the median Wilmington home of $231,400 with 20% down costs about $1,498 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,883, 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 $64,197 for the 20%-down payment. That payment is 31% of the median Wilmington household income of $58,671; at that income and 20% down, the 28% guideline points to a home of about $211,000.
The median rent here is $1,224 a month, so owning the median home costs about $274 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,280 |
|---|---|
| Loan amount | $185,120 |
| Principal and interest | $1,245 |
| Property taxes (0.81% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| PMI | $0 |
| Total per month | $1,498 |
Change the numbers in the calculator
| Down payment | $8,099 |
|---|---|
| Loan amount | $227,209 |
| Principal and interest | $1,528 |
| Property taxes (0.81% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $96 |
| FHA mortgage insurance | $102 |
| Total per month | $1,883 |
Change the numbers in the calculator
Questions about home buying in Wilmington
What is the median home value in Wilmington?
About $231,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Wilmington?
Homeowners pay a median $1,864 a year, which is about 0.81% 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 Wilmington?
For the median home with 20% down at 7.11%, the payment is about $1,498 a month. Keeping that under 28% of gross income takes about $64,197 a year.
More about Wilmington
- Mortgage Refinance in Wilmington
- Debt Relief in Wilmington
- Home Equity Loans in Wilmington
- 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