With historical significance as the first state to ratify the Constitution, stunning coastlines along the Atlantic Ocean, and close proximity to iconic cities like Philadelphia and Baltimore, the second smallest state, Delaware has much to offer to anyone considering living in the area. If Delaware sounds like the state for you, then you may also be curious about what cities fit into your budget. As of August, the median home sale price in Delaware is $334,500.
Don’t worry if that number doesn’t fit in your budget, we’ve got options to help you find a home or apartment that does. Redfin has rounded up a list of the 4 of the most affordable places to live in Delaware – and they all have a median home sale price under the state’s average. Let’s jump in and see what cities are on the list.
#1: Dover
Median home price: $280,000
Average sale price per square foot: $159
Average rent for a 1-bedroom apartment: $1,315
Median household income: $48,500
Dover, DE homes for sale
Dover, DE apartments for rent
With a median home sale price of $280,000, Dover comes in at number one on our list of most affordable places to live in Delaware. Dover is home to roughly 39,400 residents and is the second biggest city in the state. Living in Dover, you can visit the Old State House dating back to 1719, discover museums like the Biggs Museum of Art and the Johnson Victrola Museum, or explore scenic green spaces like Fork Branch Nature Preserve and Silver Lake Park.
#2: Milford
Median home price: $289,900
Average sale price per square foot: $186
Median household income: $45,948
Nearest major metro: Dover (21 miles)
Milford, DE homes for sale
Milford, DE apartments for rent
Delaware’s second most affordable city to live in is Milford, located by Delaware Bay. When living in this city of 11,200 people, you can explore Mispillion Riverwalk Park, check out the local vendors at Riverwalk Farmers Market, and visit Goat Island Nature Area.
#3: Bear
Median home price: $306,000
Average sale price per square foot: $190
Average rent for a 1-bedroom apartment: $1,872
Median household income: $76,920
Nearest major metro: Wilmington (15 miles)
Bear, DE homes for sale
Bear, DE apartments for rent
About 23,600 people reside in Bear, located about 15 miles southwest of Wilmington. The median home sale price is $306,000 which is about $30K less than the median home sale price in Delaware. If you find yourself moving to the third most affordable place in Delaware, visit one of the parks in town, check out a local restaurant, or take a boat out on Becks Pond.
#4: Smyrna
Median home price: $330,000
Average sale price per square foot: $209
Average rent for a 1-bedroom apartment: $1,050
Median household income: $45,948
Nearest major metro: Dover (14 miles)
Smyrna, DE homes for sale
Smyrna, DE apartments for rent
Only slightly more expensive than Bear is the city of Smyrna, the final affordable place in Delaware to make the list. There are several top attractions you may want to check out in Smyrna. Make sure to spend the day at Lake Como, explore the charming downtown area with shops and restaurants, or check out Blackbird State Forest.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Delaware. Median home sale price and median sale price per square foot from the Redfin Data Center during August 2023. Average rental data from Rent.com August 2023. Population and median household income data sourced from the United States Census Bureau.
