Delta SkyMiles are technically worth 1 cent apiece through Delta since you can get a $50 discount on airfare for 5,000 miles, but your mileage may vary since the airline uses a dynamic pricing model. Instead of a set redemption value, your miles’ value depends on factors like your destination, airfare class, travel dates (peak season or off-season) and more. However, to simplify things, Bankrate has estimated that Delta SkyMiles are worth about 1.3 cents per mile — which is middle of the spectrum when it comes to airline card rewards.