Mortgage payment estimates, closing cost breakdowns, and homebuying data for Dover, Delaware.
Median Home Price
$265K
Population
39K
Avg Monthly Rent
$1,250
Property Tax Rate
0.56% *
* Property tax shown is the Delaware state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Dover.
Dover vs Delaware Median
The median home price in Dover is $265,000, which is 25% below the Delaware state median of $355,000.
Mortgage Calculator — Dover, DE
Pre-filled with Dover median home price and Delaware tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $265K home using Delaware's 0.56% tax rate and $1,300/yr insurance.
5% Down
$1,970/mo
Down: $13,250
Loan: $252K
P&I: $1,591
Tax: $124
Insurance: $108
PMI: $147
10% Down
$1,879/mo
Down: $26,500
Loan: $239K
P&I: $1,507
Tax: $124
Insurance: $108
PMI: $139
20% Down (No PMI)
$1,572/mo
Down: $53,000
Loan: $212K
P&I: $1,340
Tax: $124
Insurance: $108
Income needed (28% rule): $67K/year with 20% down, $81K/year with 10% down.
Rent vs Buy in Dover
Rent
$1,250/mo
vs
Buy (10% down)
$1,879/mo
Price-to-rent ratio: 17.7 — A ratio between 15-20 means the rent vs buy decision in Dover depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Dover is $265,000, 25% below the Delaware state median of $355,000. With a population of 39,403, Dover is a smaller market where home prices tend to be more accessible than in many parts of Delaware.
Property taxes in Delaware average 0.56% annually. This low property tax rate is a significant advantage for Dover buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Delaware runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Dover is $1,250/month. The price-to-rent ratio in Dover is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Dover presents moderate affordability. The $265K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Dover.