The typical owner-occupied home in Fenwick Island is worth about $1,394,700, 4.0 times the Delaware median of $352,000 and 4.2 times the national median of $332,700. Owners pay a median $2,500 a year in property taxes, about 0.18% of their home's value, lower than the Delaware rate of 0.50%. The median household earns $113,125 a year, so the median home costs 12.3 times the median income (4.1 times for Delaware). 95% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Fenwick Island at a glance
| Fenwick Island | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $1,394,700 | $352,000 | $332,700 |
| Median property tax paid per year | $2,500 | $1,768 | $3,119 |
| Property tax as a share of value | 0.18% | 0.50% | 0.94% |
| Median household income | $113,125 | $84,954 | $80,734 |
| Homes lived in by their owners | 95% | 73% | 65% |
| Owner homes with a mortgage | 46% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,885 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 23.0% | 20.0% | 21.0% |
| Median rent | $1,438 | $1,401 | $1,413 |
| Rent as a share of renters' income | 27.5% | 29.9% | 30.6% |
| Median year homes were built | 1987 | 1987 | 1980 |
| Vacant homes | 72.0% | 13.4% | 10.1% |
| Population | 401 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Fenwick Island
At this week's average 30-year rate of 7.11%, buying the median Fenwick Island home of $1,394,700 with 20% down costs about $8,296 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $10,844, 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 $355,548 for the 20%-down payment. That payment is 88% of the median Fenwick Island household income of $113,125; at that income and 20% down, the 28% guideline points to a home of about $444,000.
The median rent here is $1,438 a month, so owning the median home costs about $6,858 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $278,940 |
|---|---|
| Loan amount | $1,115,760 |
| Principal and interest | $7,506 |
| Property taxes (0.18% a year) | $209 |
| Homeowners insurance (our estimate, 0.5% a year) | $581 |
| PMI | $0 |
| Total per month | $8,296 |
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| Down payment | $48,814 |
|---|---|
| Loan amount | $1,369,438 |
| Principal and interest | $9,212 |
| Property taxes (0.18% a year) | $209 |
| Homeowners insurance (our estimate, 0.5% a year) | $581 |
| FHA mortgage insurance | $841 |
| Total per month | $10,844 |
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Questions about home buying in Fenwick Island
What is the median home value in Fenwick Island?
About $1,394,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fenwick Island?
Homeowners pay a median $2,500 a year, which is about 0.18% 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 Fenwick Island?
For the median home with 20% down at 7.11%, the payment is about $8,296 a month. Keeping that under 28% of gross income takes about $355,548 a year.
More about Fenwick Island
- Mortgage Refinance in Fenwick Island
- Debt Relief in Fenwick Island
- Home Equity Loans in Fenwick Island
- 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