The 5 Most Affordable Places to Live In Delaware

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By Jamie Ayers Updated February 16, 2023


Finding a home that meets your needs without breaking the bank can be a serious challenge. State-wide, Delaware has a median home value of $258,300. When you add in maintenance costs and property taxes, it can be difficult for many to buy and own a home.

That's why we've compiled a list of affordable cities in Delaware to help you find a new place to live. All of these places are more affordable than average, meaning you can get more bang for your buck.

Looking for the most affordable places in Delaware is a start, but you'll save even more money by working with a great agent.

The top Delaware real estate agents know the local market and where to find pockets of more affordable homes. They can also help negotiate a better price when you do find your dream home.

At Clever Real Estate, we can match you with agents in any area you're interested in — even multiple areas at the same time. You can interview as many agents as you like until you find the perfect place to call home — all at no cost or obligation to you.

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Most affordable cities in Delaware

Whether you're looking for a quiet small town or a trendy suburban neighborhood, it's possible to locate pockets of affordability throughout Delaware.

Here are our top picks for Delaware residents on a budget:

1. Wilmington

There’s a reason why Wilmington real estate is flying off the market at record speed. It’s a highly desirable place to live, thanks to its prime riverfront location and affordability.

According to May data from Zillow, the median price of homes listed here is just $189,000, which is significantly less than the state’s median home value. Rent prices and home prices per square foot are also lower than average, which both contribute to a general, lower cost of living.

Home values have remained relatively stable. They haven’t seen much of an increase, even in its current sellers market status, but they also haven’t dropped within the past year. Data shows the housing market hasn’t quite recovered from the crash of 2012 like many other markets in the United States, but this has worked to the buyer’s advantage in finding good deals on properties.

2. Dover

Surprisingly, the capital of the First State remains one of the most affordable places to live in the state and has many people relocating to Delaware. As one of the largest cities in the state, Dover’s median home value sits at $173,800, far below the median home value of the state as a whole.

Home values have increased by 5.8% within the last year and are expected to rise by 2.3% within the next year. This is great news for current homeowners as they watch their home investment grow, and also sends good vibes to buyers who can feel confident about property in Dover.

The town is just a few miles from the Atlantic coast and is home to the Dover Air Force Base, Dover Downs, and the St. Jones River. Other reports have touted Kent County, of which Dover is a part, as the most affordable county to live in Delaware. The area features the lowest closing costs and mortgage rates of all Delaware counties and its residents have a median income in line with the national average.

Even after you've found a more affordable place to live in Delaware, moving there can be expensive. By working with a Clever Partner Agent, you'll have an expert in your corner and you may be able to take advantage of Clever Cash Back.

When you buy a home with a Clever agent, you might be eligible for cash back to use on anything you want. For the average home value of $258,300, you'd pocket more money to help you move (or splurge on a great housewarming gift for yourself).

» SAVE: Learn more about what you can save with Clever Cash Back!

3. Pike Creek

Pike Creek’s low housing costs and a median income that’s nearly two-thirds the national average makes it one of the most affordable places to live in Delaware. Located immediately west of Wilmington, the town is in a central spot between Baltimore and Philadelphia.

Much of its affordability factor is based on its lower costs of living and real estate acquisition. The area features the lowest closing costs and mortgage rates in the state, as well as a healthy housing market that’s primed for growth.

4. New Castle

Much of New Castle lies along the Delaware River, but even so, its median home value remains below the national average at just $183,700. Within the past year, home values have dropped slightly by 0.8% and are expected to decline by 0.3% this year. The drop isn’t much lower than its peak in 2018, and the demand for housing here is still high.

From 2013 until 2018, the market enjoyed a fast, steady growth. Homes are remaining on the market for a little longer than they were just a year prior, which is good news for home buyers who are looking for a deal.

5. Camden

Camden’s median home value is below the national average at $194,000. This, combined with its small yet stable growth, are key drivers behind its affordability and desirability among buyers.

Home values have increased by 1.8% last year and will grow by 1.5% within the coming year. The market experienced a brief decline in 2018 but quickly corrected and continued trending upward. A healthy economy and close proximity to Dover, another highly affordable city, contribute to Camden’s affordability.

The benefits of a great real estate agent

If you're just researching affordable places to live, you might wonder why you need a real estate agent. They're the ones that help you once you've already decided on a house, right?

Not necessarily. The truth is, it's never too early to start looking for an agent. In fact, talking to a realtor early on in the process can help you narrow down your options much faster than doing research on your own.

A real estate agent's job is to know everything about their local area. They'll find the best deals in desirable neighborhoods — and might just help you snag your dream home for an affordable price. Let a Clever agent help you discover your options today — all while you enjoy cash back!

💰 Buy with a top agent, earn cash back!

Buy your dream home with a top local realtor from a trusted brand like Keller Williams or RE/MAX. Keep more money in your pocket by earning cash back on eligible purchases.

Enter your zip code to request hand-picked agent matches in minutes. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!

Frequently asked questions about affordable places to live in Delaware

How can I save money when buying a home in Delaware?

In addition to shopping in some of the most affordable areas, you'll want to work with an experienced real estate agent. They can find you hidden gems at low price points. A good agent can also negotiate like a pro to get you a lower sale price and more buyer incentives. You may also be able to take advantage of home buyer rebates.

How do I know how much I can afford to buy in Delaware?

We recommend using the 28/36 rule to know how much house you can afford. This means your housing expenses shouldn't exceed 28% of your income, and all of your total debt shouldn't exceed 36%. Learn more about how to calculate your home buying budget.

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