An amount below 100 means Delaware is cheaper than the US average. A cost of living index above 100 means Delaware, Delaware is more expensive.
Delaware cost of living is 102.7.
| COST OF LIVING | Delaware | United States |
|---|---|---|
| Health | 115.7 | 100 |
| Housing | 100.3 | 100 |
| Median Home Cost | $304,500 | $291,700 |
| Utilities | 105.2 | 100 |
Contents
How much do you need to make to live comfortably in Delaware?
The group estimates a family of two adults and two children in Delaware County would need to earn a combined $93,136 per year — or $7,761 a month — to live comfortably.
Is cost of living high in Delaware?
Compared to the US as a whole, Delaware is slightly above the national average.Delaware’s overall cost of living index is 102.7, compared to a US average of 100.
Is it cheaper to live in Delaware or New Jersey?
The cost of living in Jersey City, NJ is 60.7% higher than in Delaware City, DE. You would have to earn a salary of $96,416 to maintain your current standard of living. Employers in Jersey City, NJ typically pay 12.9% more than employeers in Delaware City, DE.
How much do you need to make to live in Delaware?
Living Wage Calculation for New Castle County, Delaware
| 1 ADULT | 2 ADULTS (1 WORKING) | |
|---|---|---|
| 0 Children | 1 Child | |
| Living Wage | $15.91 | $31.56 |
| Poverty Wage | $6.13 | $10.44 |
| Minimum Wage | $9.25 | $9.25 |
Is it cheaper to live in DE or MD?
The cost of living in Delaware City, DE is 1.3% higher than in Baltimore, MD. You would have to earn a salary of $60,776 to maintain your current standard of living. Employers in Delaware City, DE typically pay 3.6% more than employeers in Baltimore, MD.
Is it better to live in Delaware or Maryland?
While considering retirement, the best thing to do is explore certain factors that would affect your retirement place. In this article, we will explore Delaware and Maryland advantages and disadvantages and discuss the benefits and factors that make up the act of retiring in the Northeastern United States.
Is Delaware a poor state?
More people in Delaware are living in poverty now than were after the recession of 2008. In fact, even after the national economic growth spurt of the last few years, Delaware was one of just two states where the poverty rate rose in 2018 (to 13.6 percent).
Is it cheaper to live in Delaware or Virginia?
The cost of living in Delaware City, DE is 21.8% higher than in Virginia State University, VA. You would have to earn a salary of $73,080 to maintain your current standard of living. Employers in Delaware City, DE typically pay 7.2% more than employeers in Virginia State University, VA.
What is a good salary Delaware?
Average Salary in Delaware
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $84,667 | $41 |
| 75th Percentile | $69,615 | $33 |
| Average | $62,390 | $30 |
| 25th Percentile | $46,567 | $22 |
Is Delaware a good state to move to?
Delaware’s scenic beauty, low taxes and affordable housing make this tiny state a wonderful place to live, work and play.Increasing numbers of people – from young couples to retirees – have discovered the wide-ranging benefits of Delaware living.
What are the advantages of living in Delaware?
Other benefits of Delaware living:
- Delaware Named Most Tax-Friendly State and Most Tax-Friendly State for Retirees by Kiplinger’s Personal Finance Magazine.
- Social Security benefits are not taxed.
- No state or local sales tax.
- No inheritance tax.
- No personal property tax.
Is Delaware a safe place to live?
Delaware has the lowest population in the South Atlantic region with only 973,000 people. So while The Blue Hen state had fewer instances of property and violent crime, its crime rates per 1,000 residents made it the third highest in violent crime and fourth in property crime in the region.
Is Delaware a cheap state to live?
An amount below 100 means Delaware is cheaper than the US average. A cost of living index above 100 means Delaware, Delaware is more expensive.
Delaware cost of living is 102.7.
| COST OF LIVING | Delaware | United States |
|---|---|---|
| Overall | 102.7 | 100 |
| Grocery | 105.9 | 100 |
| Health | 115.7 | 100 |
| Housing | 100.3 | 100 |
Is it cheaper to live in Delaware or Pennsylvania?
The cost of living in Delaware City, DE is -1.2% lower than in Philadelphia, PA. You would have to earn a salary of $59,278 to maintain your current standard of living. Employers in Delaware City, DE typically pay -0.6% less than employers in Philadelphia, PA.
What state has the lowest cost of living?
States with the Lowest Cost of Living
- Mississippi. Mississippi has the lowest cost out of living of all 50 states.
- Oklahoma. Oklahoma has the second-lowest cost of living in the United States.
- Arkansas. The state with the third-lowest cost of living in Arkansas.
- Kansas.
- Missouri.
- Georgia.
- Alabama.
- New Mexico.
Why is Delaware taxes so cheap?
The state has no value-added taxes (VATs), it does not tax business transactions, and it does not have use, inventory or unitary tax. There is no inheritance tax in Delaware, and there are no capital shares or stock transfer taxes.
Do Delaware residents pay state income tax?
The state of Delaware collects income taxes based on seven tax brackets, with rates ranging from 0% to 6.6%. Additionally, the city of Wilmington collects its own income tax, at a flat rate of 1.25%. For everyone who does not live or work in Wilmington, however, only the state tax is due.
Is Delaware retirement friendly?
Delaware is tax-friendly toward retirees. Social Security income is not taxed.Wages are taxed at normal rates, and your marginal state tax rate is 5.90%. Public and private pension income are partially taxed.
Are taxes high in Delaware?
The taxes in Delaware are some of the lowest in the country. Property taxes in Delaware are the fourth lowest in the nation. Also, Delaware has no state sales tax. The state has a progressive income tax.
Is retirement taxed in Delaware?
A. As a resident of Delaware, the amount of your pension and 401K income that is taxable for federal purposes is also taxable in Delaware. However, person’s 60 years of age or older are entitled to a pension exclusion of up to $12,500 or the amount of the pension and eligible retirement income (whichever is less).
