CALCMONEY // HOME AFFORDABILITY // DE // SMYRNA
How much house can you afford in Smyrna? Based on local median home prices, current DE mortgage rates, and Smyrna property tax data.
$295,000
$1,810/mo
$77,570/yr
$239,333
Monthly housing costs of $1,810 represent 33.4% of Smyrna's median gross monthly income ($5,417/mo). At 33.4%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $295,000 |
| Down Payment (20%) | $59,000 |
| Loan Amount | $236,000 |
| Monthly PI Payment | $1,554 |
| Monthly Property Tax | $133 |
| Monthly Insurance Est. | $123 |
| Total Monthly PITI | $1,810 |
| Housing Cost % of Income | 33.4% |
| Required Income (28% rule) | $77,570/yr |
| Max Affordable Home | $239,333 |
$10,325
$2,332/mo
Smyrna Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $295,000 | Smyrna city median |
| Down Payment (20%) | $59,000 | Conventional loan |
| Monthly PITI | $1,810 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $77,570 | Annual gross |
| Max Affordable Home | $239,333 | Based on median income |
| FHA Down (3.5%) | $10,325 | Minimum FHA |
| Housing Cost % of Income | 33.4% | Median income: $65,000/yr |
| Property Tax Rate | 0.54% | $1,593/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Smyrna is $295,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $236,000, generating a monthly P&I payment of $1,554. Adding property taxes ($133/mo) and homeowners insurance ($123/mo) brings total monthly PITI to $1,810.
Smyrna's property tax rate of 0.54% 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 Smyrna median home, that is $133/month, or $1,593 per year.
Delaware levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Smyrna 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 Smyrna's median income of $65,000/year can afford up to $1,517/month in total housing costs. Based on Smyrna's mortgage rate of 6.9% and property tax rate of 0.54%, that translates to a maximum affordable home price of approximately $239,333 with 20% down on a 30-year loan.
To afford the median Smyrna home priced at $295,000, you need an annual gross income of approximately $77,570. Total monthly housing costs (principal and interest of $1,554, property taxes of $133, and insurance of $123) come to $1,810/month, which equals 28% of the required income.
At the median home price of $295,000 and median household income of $65,000, the total monthly housing cost of $1,810 represents 33.4% 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 Smyrna home of $295,000 is $59,000. An FHA loan requires just 3.5% down — $10,325 — but adds mortgage insurance of roughly $202/month, bringing total FHA payments to $2,332/month.