Total monthly cost of ownership
Cost to Own a Home in Georgetown, Delaware
A $266,000 home here costs
$2,070per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $88,500 a year.
A standard mortgage calculator would have told you $1,450. The real number is $620 higher every month, 43% more than the payment most buyers budget for.
Compare Sussex County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Georgetown against Sussex County and Delaware
| Measure | Georgetown | Sussex County |
|---|---|---|
| Median home value | $266,100 | $353,300 |
| Median property tax | $1,119 | $1,171 |
| Effective tax rate | 0.421% | 0.331% |
| Median gross rent | $1,333 | $1,221 |
| Population | 7,456 | 247,799 |
The weather behind that power bill
Georgetown sits in Sussex County, which averages a high of 87.7°F in its hottest month and a low of 28.6°F in its coldest, with 43.88" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,396 cooling and 4,070 heating degree days, which is what sets the $170 electricity line above.
See the full climate breakdown for Sussex County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sussex County
Full Sussex County cost breakdown · Every county in Delaware
Talk to someone who works this market
These are Georgetown averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Georgetown every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Georgetown I already own here and may sell
Common questions
How much does it cost to own a home in Georgetown?
A $266,000 home in Georgetown, Delaware costs approximately $2,070 per month with 20% down at 7.24%. That is $1,450 principal and interest, $93 property tax, $67 homeowners insurance, $238 utilities and $222 set aside for maintenance.
What is the property tax rate in Georgetown?
Georgetown has an effective property tax rate of 0.421%, based on a median home value of $266,100 and median real estate taxes of $1,119. That is higher than the Sussex County average of 0.331%.
What is the average home price in Georgetown?
The median owner-occupied home value in Georgetown, Delaware is $266,100, against $353,300 across Sussex County.
Is it cheaper to rent or buy in Georgetown?
Median gross rent in Georgetown is $1,333 a month, against $2,070 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Georgetown?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Georgetown, Delaware at today's rate takes a household income of roughly $88,500 a year. That covers the full $2,070 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Georgetown, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Delaware.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.