Mortgage payment estimates, closing cost breakdowns, and homebuying data for Newark, Delaware.
Pre-filled with Newark median home price and Delaware tax/insurance rates. Adjust for your property.
Estimated closing costs based on Delaware rates and fees applied to Newark prices.
The median home price in Newark is $320,000, 10% below the Delaware state median of $355,000. With a population of 33,398, Newark 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 Newark 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 Newark is $1,420/month. The price-to-rent ratio in Newark is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Newark presents moderate affordability. The $320K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.