The typical owner-occupied home in Ocean View is worth about $514,200, 46% above the Delaware median of $352,000 and 55% above the national median of $332,700. Owners pay a median $1,835 a year in property taxes, about 0.36% of their home's value, lower than the Delaware rate of 0.50%. The median household earns $91,500 a year, so the median home costs 5.6 times the median income (4.1 times for Delaware). 93% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
Ocean View at a glance
| Ocean View | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $514,200 | $352,000 | $332,700 |
| Median property tax paid per year | $1,835 | $1,768 | $3,119 |
| Property tax as a share of value | 0.36% | 0.50% | 0.94% |
| Median household income | $91,500 | $84,954 | $80,734 |
| Homes lived in by their owners | 93% | 73% | 65% |
| Owner homes with a mortgage | 62% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $2,471 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 23.3% | 20.0% | 21.0% |
| Median rent | $1,774 | $1,401 | $1,413 |
| Rent as a share of renters' income | 27.1% | 29.9% | 30.6% |
| Median year homes were built | 2006 | 1987 | 1980 |
| Vacant homes | 48.0% | 13.4% | 10.1% |
| Population | 2,851 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Ocean View
At this week's average 30-year rate of 7.11%, buying the median Ocean View home of $514,200 with 20% down costs about $3,136 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,992, 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 $134,389 for the 20%-down payment. That payment is 41% of the median Ocean View household income of $91,500; at that income and 20% down, the 28% guideline points to a home of about $350,000.
The median rent here is $1,774 a month, so owning the median home costs about $1,362 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $102,840 |
|---|---|
| Loan amount | $411,360 |
| Principal and interest | $2,767 |
| Property taxes (0.36% a year) | $154 |
| Homeowners insurance (our estimate, 0.5% a year) | $214 |
| PMI | $0 |
| Total per month | $3,136 |
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| Down payment | $17,997 |
|---|---|
| Loan amount | $504,887 |
| Principal and interest | $3,396 |
| Property taxes (0.36% a year) | $154 |
| Homeowners insurance (our estimate, 0.5% a year) | $214 |
| FHA mortgage insurance | $227 |
| Total per month | $3,992 |
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Questions about home buying in Ocean View
What is the median home value in Ocean View?
About $514,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ocean View?
Homeowners pay a median $1,835 a year, which is about 0.36% 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 Ocean View?
For the median home with 20% down at 7.11%, the payment is about $3,136 a month. Keeping that under 28% of gross income takes about $134,389 a year.
More about Ocean View
- Mortgage Refinance in Ocean View
- Debt Relief in Ocean View
- Home Equity Loans in Ocean View
- 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