Buying a home · New Castle County
Data from November 2026
Buying a home in New Castle County, Delaware
The typical home in New Castle County is worth $352,200 by the Census (Average 2020–2024). At Freddie Mac’s 7.18% rate (November 5, 2026), an FHA loan with 3.5% down and the tax here, the payment would be about $2,854 a month. For it to be 28% of income, a household would need about $122,298 a year.
Four numbers to start with
- Typical home value
- $352,200
- Census median · Average 2020–2024
- About the same as in Delaware
- Income for the typical home
- $122,298
- a year, at 7.18% (November 5, 2026)
- The typical household here earns $91,166 a year, less than that.
- FHA limit, 1 unit
- $630,200
- high-cost area, 2026
- Conforming limit: $832,750.
- Property tax
- 0.71%
- $2,499 a year for the typical owner
- 42% more than in Delaware
Only here
Buying a home in New Castle County: what sets it apart
What this place has that others do not, from public data, most unusual first.
-
From 2020 to 2025, home prices in New Castle County rose 50% on FHFA's index, about the same as in Delaware (51%).
Sources: FHFA (2025 data).
How much income you need
The income a home needs in New Castle County
Three homes with the figures from here: the one the typical income ($91,166) reaches, the typical home ($352,200) and the most expensive one an FHA loan covers. All at 7.18% (November 5, 2026) and the property tax here (0.71% of value a year).
- The payment includes principal, interest, property tax, home insurance and FHA mortgage insurance (MIP).
- Home insurance is an example of 0.5% of the price a year. “To close” adds the down payment and an example of 3% of the price in closing costs.
- The income needed is the one that keeps the payment at 28% of pre-tax income. It is a reference: each lender decides with your debts, your credit and your savings.
| Home | Price | Income a year | Monthly payment | To close |
|---|---|---|---|---|
| What the typical income reachesthe payment is 28% of $91,166 a year | $262,500 | $91,151 | $2,127 | $17,063 |
| The typical homeCensus median · Average 2020–2024 | $352,200 | $122,298 | $2,854 | $22,893 |
| The most with FHAthe loan reaches the $630,200 limit | $653,057 | $226,768 | $5,291 | $42,449 |
Source: Freddie Mac, November 5, 2026 · Source: U.S. Census Bureau, Average 2020–2024 · Source: HUD, 2026 data
Loan limits
How much you can borrow in New Castle County
This is a high-cost area, so FHA limits in New Castle County are above the national floor. The limit is set for the whole metro area (Philadelphia-Camden-Wilmington, PA-NJ-de-MD). If the loan you need is above these amounts, it doesn't fit FHA or it becomes a "jumbo" loan.
FHA, one unit
$630,200
FHA high-cost area
Nationwide, the one-unit FHA limit runs from $541,287 to $1,299,500.
Source: HUD, 2026 data
Conforming, one unit
$832,750
Above this amount, a conventional loan is a “jumbo” loan. The national baseline limit applies here.
VA loans. If you have full VA entitlement, VA doesn't cap the loan amount. If you've used part of your entitlement, the calculation uses the county limit ($832,750 for one unit). VA loan limits (va.gov)
Source: FHFA, 2026 data
Buying a duplex or fourplex in New Castle County
Loan limits for 2, 3 and 4 units in New Castle County and HUD's Fair Market Rent by home size. HUD's rent is a reference, not a promise of what you will charge.
Loan limits in New Castle County
| Units | FHA 2026 | Conforming 2026 |
|---|---|---|
| 2 units | $806,750 | $1,066,250 |
| 3 units | $975,200 | $1,288,800 |
| 4 units | $1,211,950 | $1,601,750 |
The FHA limit is the largest loan FHA can insure in this county; the conforming limit, the largest Fannie Mae and Freddie Mac can buy.
HUD Fair Market Rent in New Castle County
| Size | Fair Market Rent FY2027 |
|---|---|
| Studio | $1,438 |
| 1 bedroom | $1,558 |
| 2 bedrooms | $1,860 |
| 3 bedrooms | $2,216 |
| 4 bedrooms | $2,445 |
HUD's estimate of rent plus utilities (except telephone). A reference to compare with, not what you will charge.
Sources: HUD, FHA limits 2026 ↗ · FHFA, conforming limits 2026 ↗ · HUD, Fair Market Rents FY2027 ↗
FHA's rules for buying 2 to 4 units
-
FHA insures loans on 1 to 4 unit properties that are the owner's principal residence. For 2 to 4 units, the lender must obtain form HUD-92561.
“Except as otherwise stated in this Handbook 4000.1, FHA’s Single Family programs are limited to one- to four-family Properties that are owner-occupied Principal Residences.”
-
At least one borrower must move into the property within 60 days of signing and intend to live there at least 1 year.
“At least one Borrower must occupy the Property within 60 Days of signing the security instrument and intend to continue occupancy for at least one year.”
-
The FHA loan may not pass your area's limit, which rises with the number of units. The limit is checked against the loan before the financed upfront mortgage insurance premium (UFMIP) is added.
“A Mortgage that is to be insured by FHA cannot exceed the Nationwide Mortgage Limits. … restrictions to mortgage amounts and LTVs are based upon the amount prior to the financing of the Upfront Mortgage Insurance Premium (UFMIP) (Base Loan Amount).”
Handbook 4000.1, II.A.2.a and II.A.2.a.iii, p. 177; p. 178 ↗
-
The units' rent can count as income. With no rental history, the lender uses 75% of the lesser of the appraiser's rent or the lease rent. It may not subtract it from your payment.
“the Mortgagee must use 75 percent of the lesser of: fair market rent reported by the Appraiser; or the rent reflected in the lease or other rental agreement.”
-
With 3 or 4 units, the payment (principal, interest, taxes and insurance) divided by the net rent of all units, yours included, may not pass 100%. Net rent is the appraiser's rent less the appraiser's vacancy and maintenance estimate or 25%, whichever is greater.
“The PITI divided by the monthly Net Self-Sufficiency Rental Income may not exceed 100 percent for three- to four-unit Properties. … Net Self-Sufficiency Rental Income is calculated by using the Appraiser’s estimate of fair market rent from all units, including the unit the Borrower chooses for occupancy, and subtracting the greater of the Appraiser’s estimate for vacancies and maintenance, or 25 percent of the fair market rent.”
-
With 3 or 4 units, the lender must verify reserves of 3 months of payments after closing. With manual underwriting, it asks for 1 month for 1 or 2 units.
“The Mortgagee must verify and document Reserves equivalent to three months’ PITI after closing for three- to four-unit Properties.”
Handbook 4000.1, II.A.4.d.i(C)(2) and II.A.5.c.i(C)(1)–(2), p. 253; p. 332 ↗
Prices
How prices changed in New Castle County
According to the FHFA House Price Index, home prices in New Castle County rose 72% in the 10 years through 2025. FHFA's index follows the price of the same homes over the years.
| Year | New Castle County | Delaware | United States |
|---|---|---|---|
| 2015 | 0.0% | 0.0% | 0.0% |
| 2016 | +1.8% | +2.1% | +5.3% |
| 2017 | +3.3% | +4.0% | +11.0% |
| 2018 | +7.1% | +8.0% | +17.3% |
| 2019 | +10.9% | +11.9% | +22.2% |
| 2020 | +14.7% | +15.6% | +25.9% |
| 2021 | +26.4% | +28.1% | +40.5% |
| 2022 | +42.9% | +46.1% | +62.2% |
| 2023 | +56.4% | +58.0% | +71.5% |
| 2024 | +67.0% | +68.8% | +79.9% |
| 2025 | +71.7% | +74.2% | +85.0% |
| Period | Here | Delaware | United States |
|---|---|---|---|
| In 2025 | +2.8% | +3.2% | +2.9% |
| 5 years (2020–2025) | +50% | +51% | +47% |
| 10 years (2015–2025) | +72% | +74% | +85% |
See each year's change
- 2020: +3.4%
- 2021: +10.3%
- 2022: +13.1%
- 2023: +9.5%
- 2024: +6.7%
- 2025: +2.8%
The index follows the prices of the same homes over time (sales and appraisals on loans bought or guaranteed by Fannie Mae and Freddie Mac). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Property tax
Property tax in New Castle County
In New Castle County, the typical owner pays $2,499 a year: about 0.71% of the home's value. That is more than the rest of Delaware and less than the national average.
On the typical home ($352,200), that rate would be about $208 a month.
It is a Census estimate: what owners pay divided by their home’s value. Your bill depends on the assessment and the exemptions you claim.
Property tax
- New Castle 0.71%
- Delaware 0.50%
- United States 0.94%
What Delaware publishes School property tax credit for owners 65 and older (Delaware Department of Finance)
Figure your tax Exemptions and deadlines in DelawareCalculator
Figure your payment in New Castle County
It starts from the typical price, this week’s rate and the tax here. Change anything: your numbers stay in your browser.
Your numbers
Starts at the typical home value in New Castle County. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
That is $12,327 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details
Estimated monthly payment
Local data$2,854
at 7.18% · 30 years
- Loan amount
- $345,821
- Total interest
- $497,555
- Paid off in
- November 2056
Includes $5,948 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,127 a month
Tight
$2,127 to $2,735 a month
Hard
more than $2,735 a month
Your payment · 38%
Compared with the typical household income in New Castle County ($91,166 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
| Principal & interest | $2,343 |
|---|---|
| Property tax | $208 |
| Home insurance | $147 |
| FHA mortgage insurance (MIP) | $156 |
How does it compare with incomes?
For this payment to be 28% of your income, you'd need to earn about $122,299 a year. With your other debts, to stay under 36%: about $95,122 a year.
You need at least $12,327 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,854; principal and interest $2,343.
Down payment help
Programs that serve in New Castle County
These 3 statewide programs serve in New Castle County. Each program sets its own rules: check its official page.
-
Home Sweet Home All of Delaware
$12,000
Delaware state authority second loan of $12,000 at 0%, forgiven 10% for each year you live in the home (all of it after 10 years), for homes up to $285,000; the agency announced it as a temporary program
The source does not say whether you must be a first-time buyer. Run by Delaware State Housing Authority (DSHA). Verified November 5, 2026
-
Keys4You Home Loan All of Delaware
Up to 4% of the loan
Delaware state authority 0% second mortgage equal to 4% of your mortgage, for the down payment and closing costs, with no monthly payments until you sell, refinance or stop living in the home; with the Welcome Home (first-time buyers) or Open Door (any buyer) mortgages
No first-time requirement. Run by Delaware State Housing Authority (DSHA). Verified November 5, 2026
-
Take5 Home Loan All of Delaware
Up to 5% of the loan
Delaware state authority 0% second mortgage equal to 5% of your mortgage, for the down payment and closing costs, with no monthly payments until you sell, refinance or stop living in the home; only with the Welcome Home mortgage for first-time buyers
First-time buyers only. Run by Delaware State Housing Authority (DSHA). Verified November 5, 2026
Housing counseling nearby
These agencies have an office in New Castle County. The full list is on the Delaware counselors page. Official HUD list. Confirm hours and fees with the agency before you go.
-
CCCS of Delaware Valley, DBA Clarifi
710 North Lincoln Street, Wilmington · Spanish
- Mortgage delinquency and default
- Budget and financial counseling
- and 2 more
-
Neighborgood Partners - Newark Branch
501 Ogletown Road, Room 306, Newark · Spanish
Also serves in Creole.
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
-
Housing Opportunities of Northern Delaware, Inc.
100 W 10th St Ste 1001, Wilmington
- Mortgage delinquency and default
- Mortgage delinquency workshops
- and 9 more
-
Interfaith Community Housing of Delaware
613 N Washington St, Wilmington
- Mortgage delinquency and default
- Budget and financial counseling
- and 4 more
-
Neighborhood House, Incorporated
1218 B St, Wilmington
- Mortgage delinquency and default
- Budget and financial counseling
- and 8 more
-
YWCA Delaware
100 W 10th St Ste 515, Wilmington
- Mortgage delinquency and default
- Budget and financial counseling
- and 5 more
Guides
Guides to buying a home
- How to buy a home in the United States, step by step
- Down payment assistance: how it works
- How much do you need for a down payment?
- FHA loan: down payment, insurance, limits and who qualifies
- ITIN mortgages: what exists and what lenders ask for
- Closing costs explained: what you pay and what can change
- Buying a duplex or a home with an ADU to live with family
- HUD housing counselors: what they do and what they cost
Frequently asked questions
How much income do I need to buy a home in New Castle County?
At Freddie Mac’s 7.18% rate (November 5, 2026), an FHA loan with 3.5% down and the tax here, the payment would be about $2,854 a month. For it to be 28% of income, a household would need about $122,298 a year. The income needed is the one that keeps the payment at 28% of pre-tax income. It is a reference: each lender decides with your debts, your credit and your savings.
What is the FHA loan limit in New Castle County in 2026?
New Castle County has an FHA limit of $630,200 for a one-unit home. For 2 units it's $806,750, for 3 it's $975,200 and for 4 it's $1,211,950. It's a high-cost area, so the limit is above the national floor.
How much have home prices changed in New Castle County?
By FHFA’s house price index, home prices in New Castle County rose 72% from 2015 to 2025.
How much is property tax in New Castle County?
New Castle County has a typical property tax of $2,499 a year, about 0.71% of the home's value (Average 2020–2024, U.S. Census).
Is there down payment help in New Castle County?
These 3 statewide programs serve in New Castle County. Each program sets its own rules: check its official page.
Where can I find free help in Spanish to buy a home in New Castle County?
There are 6 HUD-approved counseling agencies in New Castle County; 2 say they serve in Spanish. They're listed on this page with their phone numbers.