Mortgage payment estimates, closing cost breakdowns, and homebuying data for Smyrna, Delaware.
Median Home Price
$295K
Population
13K
Avg Monthly Rent
$1,320
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 Smyrna.
Smyrna vs Delaware Median
The median home price in Smyrna is $295,000, which is 17% below the Delaware state median of $355,000.
Mortgage Calculator — Smyrna, DE
Pre-filled with Smyrna median home price and Delaware tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $295K home using Delaware's 0.56% tax rate and $1,300/yr insurance.
5% Down
$2,181/mo
Down: $14,750
Loan: $280K
P&I: $1,771
Tax: $138
Insurance: $108
PMI: $163
10% Down
$2,079/mo
Down: $29,500
Loan: $266K
P&I: $1,678
Tax: $138
Insurance: $108
PMI: $155
20% Down (No PMI)
$1,738/mo
Down: $59,000
Loan: $236K
P&I: $1,492
Tax: $138
Insurance: $108
Income needed (28% rule): $74K/year with 20% down, $89K/year with 10% down.
Rent vs Buy in Smyrna
Rent
$1,320/mo
vs
Buy (10% down)
$2,079/mo
Price-to-rent ratio: 18.6 — A ratio between 15-20 means the rent vs buy decision in Smyrna 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 Smyrna is $295,000, 17% below the Delaware state median of $355,000. With a population of 12,883, Smyrna 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 Smyrna 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 Smyrna is $1,320/month. The price-to-rent ratio in Smyrna is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Smyrna presents moderate affordability. The $295K 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 Smyrna.