How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will decrease by approximately $1,800 per month ($21,600/year) when you move from New Jersey to Delaware.
If you sell your median-priced New Jersey home ($505K) and buy in Delaware ($355K):
Your New Jersey equity covers the 20% down payment on a median Delaware home with $81K left over. That surplus can cover closing costs, moving expenses, or go into savings.
Over 10 years, this move saves you approximately $216K in housing costs alone.
Your dollar stretches further in Delaware. The median home costs 30% less than in New Jersey, which translates to a $150K difference in purchase price. This means a smaller loan, a lower monthly payment, and less total interest paid over the life of your mortgage.
Good news on taxes: Delaware's 0.56% property tax rate is significantly lower than New Jersey's 2.47%. You'll save approximately $10,486 per year on property taxes, which adds up to $105K over a decade.
When you buy in Delaware, expect about $12K in closing costs (3.3% of purchase price). This includes a 4% transfer tax. Budget for this amount on top of your down payment.
Delaware's DSHA Homeownership Loan offers Up to 5% Preferred Plus. If you haven't owned a home in three years (or are buying in Delaware for the first time), you may qualify. Check eligibility requirements and income limits on Delaware's housing finance agency website.