CALCMONEY // HOME AFFORDABILITY // DE // MIDDLETOWN
How much house can you afford in Middletown? Based on local median home prices, current DE mortgage rates, and Middletown property tax data.
$360,000
$2,206/mo
$94,533/yr
$304,497
Monthly housing costs of $2,206 represent 32.3% of Middletown's median gross monthly income ($6,833/mo). At 32.3%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $360,000 |
| Down Payment (20%) | $72,000 |
| Loan Amount | $288,000 |
| Monthly PI Payment | $1,897 |
| Monthly Property Tax | $159 |
| Monthly Insurance Est. | $150 |
| Total Monthly PITI | $2,206 |
| Housing Cost % of Income | 32.3% |
| Required Income (28% rule) | $94,533/yr |
| Max Affordable Home | $304,497 |
$12,600
$2,843/mo
Middletown Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $360,000 | Middletown city median |
| Down Payment (20%) | $72,000 | Conventional loan |
| Monthly PITI | $2,206 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $94,533 | Annual gross |
| Max Affordable Home | $304,497 | Based on median income |
| FHA Down (3.5%) | $12,600 | Minimum FHA |
| Housing Cost % of Income | 32.3% | Median income: $82,000/yr |
| Property Tax Rate | 0.53% | $1,908/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Middletown is $360,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $288,000, generating a monthly P&I payment of $1,897. Adding property taxes ($159/mo) and homeowners insurance ($150/mo) brings total monthly PITI to $2,206.
Middletown's property tax rate of 0.53% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Middletown median home, that is $159/month, or $1,908 per year.
Delaware levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Middletown should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Middletown's median income of $82,000/year can afford up to $1,913/month in total housing costs. Based on Middletown's mortgage rate of 6.9% and property tax rate of 0.53%, that translates to a maximum affordable home price of approximately $304,497 with 20% down on a 30-year loan.
To afford the median Middletown home priced at $360,000, you need an annual gross income of approximately $94,533. Total monthly housing costs (principal and interest of $1,897, property taxes of $159, and insurance of $150) come to $2,206/month, which equals 28% of the required income.
At the median home price of $360,000 and median household income of $82,000, the total monthly housing cost of $2,206 represents 32.3% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Middletown home of $360,000 is $72,000. An FHA loan requires just 3.5% down — $12,600 — but adds mortgage insurance of roughly $246/month, bringing total FHA payments to $2,843/month.