Rent vs buy in Wilmington, DE
In Wilmington, Delaware, the typical rent is $1,757 /mo and the typical home price is $327,252.
Renting comes out ahead by $6k over 7 years
These figures use Wilmington's typical rent and home value, plus 20% down and today's mortgage rate. The break-even point falls in year 8.
An opinion, clearly labeled, with the math shown. These are estimates, not quotes. The stamp changes whenever you change a number.
- Amount by which renting is ahead
- $6k after 7 years
- Break-even point
- Year 8 when owning catches up
- Actual cost of owning
- $2,814 each month year 1, against $1,757 rent
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Wilmington's typical rent and home value drive the stamp. Your rent, price and number of years may change the result.
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In Wilmington, is renting or buying cheaper?
Over 7 years, renting saves $5,847 after counting the money you receive when you sell. For the first 7 years, renting costs less. By year 8, owning catches up.
Renting. Owning. Net cost to date, shown by year.
Mortgage payment compared with average rent in Wilmington
Rent and mortgage payments don't tell the full story. At Wilmington's typical price, here are all monthly expenses for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,757 | All of it, every month |
| Mortgage payment | $1,784 | $1,573 of it is interest in year 1 |
| Property tax | $221 | 0.81% of the value a year |
| Insurance | $80 | Census median for the city |
| Upkeep | $273 | 1% of the value a year |
| Owning, cash out | $2,358 | $212 of it builds equity |
| Lost return on the down payment | $532 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $136 | 3.5% of the price over 7 years |
| True cost of owning | $2,814 | Cash paid, minus the equity portion, plus the two lines above |
Numbers behind Wilmington's result
- Typical home valueZillow ZHVI, September 2026
- $327,252
- Typical rentZillow ZORI, September 2026
- $1,757 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Delaware, 1995 to 2025
- 4.1% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Wilmington
- 0.81% of value
- Home insuranceCensus ACS 2020-2024, Wilmington
- $80 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would flip the Wilmington result?
At the point shown by each line, the 7-year verdict changes in Wilmington. Everything else stays the same.
When renting wins
- Annual home price growth stays below 4.3%; our calculation uses Delaware's long-run rate of 4.1%.
- The mortgage rate remains above 6.92%.
- A home like this has a monthly rent below $1,820 (typical here: $1,757).
- Before year 8, you move.
When buying wins
- Home-price growth exceeds 4.3% each year.
- Today's mortgage rate is 7.24%. You lock one below 6.92%.
- For the same home, you would pay more than $1,820 each month in rent.
- You stay for 8 years or longer.
How Wilmington compares with 812 other cities
| Measure | Wilmington | Median city |
|---|---|---|
| Typical home value | $327,252 | $422,451 |
| Typical rent | $1,757 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.5 (#595 of 813) | 18.5 |
| Home prices, last 10 years | 4.6% a year | 6.2% a year |
| Rents, last 5 years | 5.2% a year | 4% a year |
| Property tax | 0.81% | 0.87% |
| Households that rent | 52% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.