What is the cost of living in Delaware?
The cost of living in Delaware is 4.5% higher than the US average. According to MIT, the required living wage for a family of four with two working parents in Delaware is $93,755 vs the national average for a family of four with two working parents of $89,744. The median income of a Delaware household is $69,110.
The average home price in Delaware is $258,300, which is higher than the US average home price of $229,800. Median rent in Delaware is $1,150/mo which is higher than the US average rent of $1,096/mo. If you want to adjust homes prices to local incomes, the ratio of home prices to median household income is about 3.7 to 1. That means it takes roughly 3.7 years of a full salary to pay off a house. That compares to the national average of 3.5 to 1.
All in all, Delaware has a high cost of living compared to America as a whole.
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People Also Ask About Delaware
Is Delaware a dangerous state?
Yes, Delaware is a dangerous state as it ranks as the #20 most dangerous state in the United States based on our analysis of the latest FBI Crime Data. The violent crime rate in Delaware ranks 17th most dangerous in the United States -- 16.79% worse than US average violent crime rate. The property crime rate in the First State ranks 25th most dangerous in the United States -- 0.36% worse than US average property crime rate. The latest reporting year from the FBI was 2022.
Is Wilmington, DE a dangerous city?
Yes, Wilmington is a dangerous city. Wilmington ranks as the #140 most dangerous out of 1433 major cities over 30,000 people in the United States based on our analysis of the latest FBI Crime Data. Keep in mind that are always safe and dangerous parts of any city, so even though Wilmington might be considered dangerous you still need to be aware of where you are.
Compared to other big cities, the violent crime rate in Wilmington ranks 33rd highest in America -- 220.97% worse than US average violent crime rate. The property crime rate in the ranks 224th highest in the United States -- 55.91% worse than US average property crime rate. Note the latest reporting year from the FBI was 2022 and that no city in America is "dangerous". Despite the uptick in murders, it's nothing like you'd see in Tijuana or Caracas where the murder rate is 2x any American city.
What county in Delaware has the lowest cost of living?
The county in Delaware with the lowest cost of living is Sussex County. The average living wage in Sussex County is $88,233 according to MIT data. Sussex County has the lowest cost of living because it has relatively less expensive childcare and housing costs compared to Delaware as a whole. Childcare costs $14,102 a year in Sussex County for two children compared to the Delaware average of $16,668. Housing costs, defined as a blend of the average rent and average mortgage payment, are $11,580 per year in Sussex County compared to $13,860 on average in Delaware.
What is the cheapest housing market in Delaware?
The cheapest housing market in Delaware is Laurel. The average home value in Laurel is $155,600, the lowest in the state. The average home value in Delaware is $258,300, almost 1.7 times higher than Laurel.