Delaware Housing Market Prices
Delaware Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 2% below the US median$243,076
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Median rent About the same as the US median$1,401
Median Home Price Map: Counties in Delaware
Housing Market Overview
| Metric | Delaware | US Average |
|---|---|---|
| Median Home Price | $243,076 | $248,835 |
| Price Trend (Annual %) | 4.0% | 7.5% |
| Median Gross Rent | $1,401 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Delaware is about 2% lower than in US. Rent follows a similar pattern, running close to the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Delaware, up about 4.0% and 3.8% a year respectively. Home prices are changing faster.
Median rent in Delaware rose about 37.7% between 2015 and 2024, from $1,017 to $1,401. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Delaware.
Buying the median-priced home in Delaware costs roughly 14.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Delaware. The price-to-rent ratio in US is about 14.7.
| Metric | Delaware | US Average |
|---|---|---|
| Median Home Price | $243,076 | $248,835 |
| Median Household Income | $85,760 | $80,455 |
| Price-to-Income Ratio | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Delaware rose about 30.4%, while median household income rose about 42.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Delaware | US Average |
|---|---|---|
| Homeownership Rate | 63.2% | 58.5% |
| Rental Rate | 23.5% | 31.2% |
| Vacancy Rate | 13.4% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 |
Delaware has a homeownership rate of 63.2%, higher than the US average of 58.5%. Its housing vacancy rate is 13.4%, compared with 10.2% in US.
Housing Stock
| Metric | Delaware | US Average |
|---|---|---|
| Average Household Size | 2.48 people | 2.53 people |
| Median Structure Built Year | 1983 | 1978 |
| Median Number of Rooms | 6.2 | 5.5 |
The typical housing unit in Delaware was built around 1983. On average, 2.5 people live in a home with about 6.2 rooms, staying for about 15.0 years on average.
Delaware Housing Compared With Nearby States
Delaware is the 5th largest of the 6 states compared here, 1,017,061 residents against a local median of 8,702,460. Delaware's median rent, at $1,401, runs 18% below the $1,704 typical of the states around it.
The states themselves spread $745 on median rent, so Delaware sits at one end of an already wide local range rather than apart from it. Delaware has the 5th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Delaware | 1,017,061 | $243,076 #5/6 | $1,401 #5/6 | 72.9% #1/6 |
| Maryland | 6,204,886 | $267,101 | $1,704 | 67.6% |
| New Jersey | 9,334,304 | $352,792 | $1,719 | 63.8% |
| District of Columbia | 678,314 | $597,276 | $1,953 | 41.5% |
| Pennsylvania | 13,004,688 | $152,469 | $1,208 | 69.3% |
| Virginia | 8,702,460 | $256,082 | $1,579 | 67.3% |
Frequently Asked Questions
Common questions about the housing market in Delaware.
What is the median home price in Delaware?
The median home price in Delaware is $243,076, lower than the US average of $248,835.
What is the average home price in Delaware?
The typical home price in Delaware, reported as the median sale price, is $243,076. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Delaware?
The median gross rent in Delaware is $1,401 per month, about the same as the US average.
What was the median gross rent in Delaware in 2020?
In 2020, the median gross rent in Delaware was $1,149 per month.
What is the price-to-rent ratio in Delaware?
The price-to-rent ratio in Delaware is about 14.5, meaning it would take roughly 14.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Delaware.
Are home prices or rent rising faster in Delaware?
Both home prices and rent are rising in Delaware, up about 4.0% and 3.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Delaware?
63.2% of households in Delaware own their home, higher than the US average of 58.5%.
What is the vacancy rate in Delaware?
The housing vacancy rate in Delaware is 13.4%, higher than the US average of 10.2%.
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