The 19809 zip code in Wilmington tops our ranking of the most affordable places to live in Delaware.
We looked at 34 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Delaware
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Wilmington 🥇 | 100 | $298,819 | $1,475 |
| 2 | New Castle🥈 | 93.6 | $265,785 | $1,638 |
| 3 | Claymont 🥉 | 88.5 | $298,377 | $1,555 |
| 4 | Newark | 80.1 | $339,968 | $1,935 |
| 5 | Bear | 77.8 | $408,622 | $2,079 |
| 6 | Townsend | 74.6 | $453,143 | $1,935 |
| 7 | Hockessin | 73.3 | $570,492 | $2,800 |
| 8 | Seaford | 73.2 | $296,434 | $1,935 |
| 9 | Magnolia | 70.5 | $408,286 | $1,935 |
| 10 | Camden | 69.7 | $351,200 | $1,935 |
Looking to buy in Delaware?
Considering moving to or near Wilmington, New Castle, or another affordable place in Delaware? Let us match you with a top real estate agent in your new city!
1. Wilmington
Here's why the 19809 zip code in Wilmington is Delaware's most affordable place to live.
🔎 Key data about Wilmington
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100 | No. 1 | N/A |
| Median home value | $298,819[1] | No. 10 | -$69,596.78 |
| Home affordability ratio | 3.6 | No. 3 | -0.9 |
| Home value five-year change | 34.0%[2] | No. 5 | -7.9% |
| Home value one-year forecast | -1.0%[3] | No. 2 | -0.4% |
| Rental costs | $1,475[4] | No. 1 | -$460 |
| Rent affordability ratio | 1.76% | No. 2 | -0.6% |
| Median household income | $83,923[5] | No. 13 | $1,916 |
| Property taxes | $2,198[6] | No. 24 | $321 |
| Energy costs | $0.10 kWh[7] | No. 1 | $0.00 |
Wilmington's 19809 zip code is the cheapest place to live in Delaware, leading the 34 markets we evaluated.
The median home value is $298,819, making it the 10th-cheapest housing market in the state. Forecasts project a -1.0% change in home values in the next year. Rent in the zip code averages $1,475 per month, which is the 2nd cheapest amount in Delaware.
The median property tax for homeowners in Wilmington is $2,198 per household, the No. 24 ranked market in Delaware.
Residents pay $0.10 per kWh of electricity, which ranks No. 1 among Delaware markets.
2. New Castle
The 19720 zip code is the 2nd-cheapest place to live in Delaware.
🔎 Key data about New Castle
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.6 | No. 2 | N/A |
| Median home value | $265,785[8] | No. 4 | -$102,631.33 |
| Home affordability ratio | 3.7 | No. 6 | -0.8 |
| Home value five-year change | 37.3%[9] | No. 9 | -4.6% |
| Home value one-year forecast | -0.9%[10] | No. 7 | -0.3% |
| Rental costs | $1,638[11] | No. 6 | -$297 |
| Rent affordability ratio | 2.26% | No. 8 | -0.1% |
| Median household income | $72,424[12] | No. 19 | -$9,583 |
| Property taxes | $1,446[13] | No. 16 | -$431 |
| Energy costs | $0.10 kWh[14] | No. 1 | $0.00 |
New Castle's 19720 zip code has a median home value of $265,785, which is the 7th-cheapest housing market in Delaware. You can rent for an average of $1,638 per month. That's the 6th-cheapest price in the state.
The average household income in the zip code is $72,424, which ranks 19th-highest in the state.
Homeowners in New Castle pay a median property tax of $1,446 per year, making it the 16th-most affordable market in Delaware.
New Castle ranks No. 1 among Delaware energy markets. You'll pay $0.10 per kWh of electricity.
3. Claymont
The 3rd-cheapest place to live in Delaware is Claymont's 19703 zip code.
🔎 Key data about Claymont
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 88.5 | No. 3 | N/A |
| Median home value | $298,377[15] | No. 9 | -$70,038.83 |
| Home affordability ratio | 4.1 | No. 13 | -0.4 |
| Home value five-year change | 36.3%[16] | No. 8 | -5.6% |
| Home value one-year forecast | -1.0%[17] | No. 2 | -0.4% |
| Rental costs | $1,555[18] | No. 4 | -$380 |
| Rent affordability ratio | 2.13% | No. 7 | -0.2% |
| Median household income | $72,979[19] | No. 18 | -$9,028 |
| Property taxes | $1,733[20] | No. 22 | -$144 |
| Energy costs | $0.10 kWh[21] | No. 1 | $0.00 |
The No. 9 cheapest housing in Delaware is Claymont's 19703 zip code, with a median home value of $298,377. Rents in the market average $1,555 per month, making it the 4th-most affordable rental market in the state.
The median property tax for households in Claymont is $1,733, which makes it the 22nd-cheapest place in Delaware. Claymont ranks No. 1 among Delaware markets by energy costs. Residents pay $0.10 per kWh of electricity.
4. Newark
The 19702 zip code in Newark comes in at No. 4 on our list of the cheapest places to live in Delaware.
🔎 Key data about Newark
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 80.1 | No. 4 | N/A |
| Median home value | $339,968[22] | No. 17 | -$28,448.00 |
| Home affordability ratio | 3.8 | No. 9 | -0.7 |
| Home value five-year change | 37.3%[23] | No. 11 | -4.6% |
| Home value one-year forecast | -0.9%[24] | No. 7 | -0.3% |
| Rental costs | $1,935[25] | No. 11 | $0 |
| Rent affordability ratio | 2.36% | No. 11 | 0.0% |
| Median household income | $90,281[26] | No. 11 | $8,274 |
| Property taxes | $2,512[27] | No. 27 | $635 |
| Energy costs | $0.10 kWh[28] | No. 1 | $0.00 |
The No. 17 cheapest housing market in Delaware is Newark's 19702 zip code, where the median home value is $339,968. Renters here pay an average of $1,935 per month.
When it comes to energy costs, Newark ranks 1st among Delaware markets. Residents pay $0.10 per kWh of electricity.
The median property tax for households in the zip code is $2,512, which makes it the 27th-cheapest market in Delaware.
5. Bear
The 19701 zip code in Bear ranks No. 5 among Delaware's most affordable places to live.
🔎 Key data about Bear
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 77.8 | No. 5 | N/A |
| Median home value | $408,622[29] | No. 26 | $40,206.08 |
| Home affordability ratio | 4.0 | No. 12 | -0.5 |
| Home value five-year change | 38.1%[30] | No. 13 | -3.8% |
| Home value one-year forecast | -0.9%[31] | No. 7 | -0.3% |
| Rental costs | $2,079[32] | No. 29 | $144 |
| Rent affordability ratio | 2.02% | No. 4 | -0.3% |
| Median household income | $103,104[33] | No. 5 | $21,097 |
| Property taxes | $2,437[34] | No. 26 | $560 |
| Energy costs | $0.10 kWh[35] | No. 1 | $0.00 |
Bear's 19701 zip code has a median home value of $408,622, the 26th-cheapest market in the state. Forecasts project a -0.9% change in home values in the next year.
The median property tax per household in Bear is $2,437. It's the 26th-cheapest market by tax rate in Delaware.
6. Townsend
The No. 6 most affordable place to live in Delaware is the 19734 zip code.
🔎 Key data about Townsend
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 74.6 | No. 6 | N/A |
| Median home value | $453,143[36] | No. 28 | $84,726.78 |
| Home affordability ratio | 3.6 | No. 5 | -0.9 |
| Home value five-year change | 41.9%[37] | No. 17 | 0.0% |
| Home value one-year forecast | -0.9%[38] | No. 7 | -0.3% |
| Rental costs | $1,935[39] | No. 11 | $0 |
| Rent affordability ratio | 2.36% | No. 11 | 0.0% |
| Median household income | $124,745[40] | No. 2 | $42,738 |
| Property taxes | $2,824[41] | No. 28 | $947 |
| Energy costs | $0.10 kWh[42] | No. 1 | $0.00 |
The back half of our top 10 kicks off with Townsend's 19734 zip code, which has the 28th-cheapest home values in Delaware. The median home value is $453,143. Rents average $1,935 per month, making it the 11th-most affordable rental market in the state.
Residents pay $0.10 per kWh of electricity. It's the 1st-cheapest energy market.
7. Hockessin
Hockessin's 19707 zip code is the 7th-cheapest place to live in Delaware.
🔎 Key data about Hockessin
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 73.3 | No. 7 | N/A |
| Median home value | $570,492[43] | No. 32 | $202,075.36 |
| Home affordability ratio | 3.5 | No. 2 | -1.0 |
| Home value five-year change | 37.3%[44] | No. 10 | -4.6% |
| Home value one-year forecast | -0.9%[45] | No. 7 | -0.3% |
| Rental costs | $2,800[46] | No. 33 | $865 |
| Rent affordability ratio | 1.70% | No. 1 | -0.7% |
| Median household income | $164,225[47] | No. 1 | $82,218 |
| Property taxes | $4,289[48] | No. 34 | $2,412 |
| Energy costs | $0.10 kWh[49] | No. 1 | $0.00 |
You'll find the 32nd-cheapest home values in Delaware in Hockessin's 19707 zip code. The median value: $570,492. Renters in Hockessin pay an average of $2,800 per month.
Homeowners in Hockessin pay a median property tax of $4,289 per year, which is Delaware's 34th-most affordable market.
The average household income is $164,225, which ranks 1st-highest in the state.
8. Seaford
The 8th-cheapest place to live in Delaware is Seaford's 19973 zip code.
🔎 Key data about Seaford
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 73.2 | No. 8 | N/A |
| Median home value | $296,434[50] | No. 7 | -$71,982.46 |
| Home affordability ratio | 4.8 | No. 22 | 0.3 |
| Home value five-year change | 46.4%[51] | No. 23 | 4.5% |
| Home value one-year forecast | -0.5%[52] | No. 24 | 0.1% |
| Rental costs | $1,935[53] | No. 11 | $0 |
| Rent affordability ratio | 2.36% | No. 11 | 0.0% |
| Median household income | $61,849[54] | No. 28 | -$20,158 |
| Property taxes | $949[55] | No. 5 | -$928 |
| Energy costs | $0.10 kWh[56] | No. 1 | $0.00 |
The 7th-cheapest housing market in Delaware is Seaford's 19973 zip code, with a median home value of $296,434. Renters pay an average of $1,935 per month, the No. 11 rental market in the state.
The median property tax for households in Seaford is $949, which makes it the 5th-cheapest place in Delaware. The average household income of $61,849 ranks 28th.
9. Magnolia
Magnolia's 19962 zip code sneaks into the top ten of Delaware's most affordable places to live.
🔎 Key data about Magnolia
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 70.5 | No. 9 | N/A |
| Median home value | $408,286[57] | No. 25 | $39,869.70 |
| Home affordability ratio | 4.2 | No. 15 | -0.3 |
| Home value five-year change | 50.7%[58] | No. 27 | 8.9% |
| Home value one-year forecast | 0.1%[59] | No. 27 | 0.7% |
| Rental costs | $1,935[60] | No. 11 | $0 |
| Rent affordability ratio | 2.36% | No. 11 | 0.0% |
| Median household income | $97,798[61] | No. 8 | $15,791 |
| Property taxes | $1,466[62] | No. 18 | -$411 |
| Energy costs | $0.10 kWh[63] | No. 1 | $0.00 |
The 25th-cheapest housing market in Delaware is Magnolia's 19962 zip code, where the median home value is $408,286. Renters pay an average of $1,935 per month. It's the state's 11th-cheapest rental market.
The median property tax for households within the zip code is $1,466, which makes it the 18th-cheapest property tax rate in Delaware.
10. Camden
The final spot on our list of the most affordable places to live in Delaware goes to the 19934 zip code in Camden.
🔎 Key data about Camden
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 69.7 | No. 10 | N/A |
| Median home value | $351,200[64] | No. 18 | -$17,216.42 |
| Home affordability ratio | 4.5 | No. 20 | 0.0 |
| Home value five-year change | 52.8%[65] | No. 29 | 10.9% |
| Home value one-year forecast | 0.1%[66] | No. 27 | 0.7% |
| Rental costs | $1,935[67] | No. 11 | $0 |
| Rent affordability ratio | 2.36% | No. 11 | 0.0% |
| Median household income | $77,936[68] | No. 15 | -$4,071 |
| Property taxes | $1,394[69] | No. 13 | -$483 |
| Energy costs | $0.10 kWh[70] | No. 1 | $0.00 |
The 18th-most affordable market in Delaware is Camden's 19934 zip code. The median home value is $351,200. Rent in the market costs $1,935 per month on average, making it the 11th-most affordable rental market in Delaware.
The median property tax for households in Camden is $1,394, which is the 13th-cheapest property tax rate in the state.
Camden ranks No. 1 among Delaware markets by energy costs, with households paying $0.10 per kWh of electricity.
How we ranked the most affordable places in Delaware
We evaluated 34 zip codes in Delaware with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Methodology: What is an Affordability Score?
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Delaware, the higher our score on this component. We assign a weight of 23.8% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 23.8% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 4.8% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 4.8% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 11.9% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 4.8% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 11.9% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Delaware average, the higher our score on this component. We assign a weight of 7.1% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Delaware average, the higher our score on this component. We assign a weight of 7.1% to energy costs.
