Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Delaware and New Jersey. Updated for 2026.
Delaware and New Jersey are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
The monthly payment difference is $1,800/month — that’s $21,600/year or $648K over the life of a 30-year loan. Buying in Delaware is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in New Jersey, you need a household income of approximately $181K/year. In Delaware, you need $104K/year — less by $77K/year. That $77K income gap means Delaware is accessible to a significantly wider range of households.
Delaware offers meaningfully lower home prices than New Jersey, with median prices running 30% less ($150K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of New Jersey may find Delaware far more accessible, particularly when combined with local down payment assistance programs.
Property taxes are dramatically different: Delaware charges 0.56% while New Jersey charges 2.47%, a gap of 1.91 percentage points. On the respective median homes, this means New Jersey homeowners pay roughly $12,474 per year in property taxes versus $1,988 in Delaware. Over 30 years of homeownership, this difference alone can add up to six figures. Retirees on fixed incomes should weigh this heavily.
Both states offer down payment assistance for first-time buyers. Delaware's DSHA Homeownership Loan provides Up to 5% Preferred Plus, while New Jersey's NJHMFA DPA Program offers Up to $15,000 forgivable. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: property taxes are the defining difference here. New Jersey's 2.47% rate versus Delaware's 0.56% means Delaware homeowners save approximately $10,486 every year on taxes alone. Over a 30-year mortgage, that difference compounds into tens of thousands of dollars — making it the most important cost factor in this comparison.