How much money do you need to live comfortably in Delaware? (2024)

How much money do you need to live comfortably in Delaware?

A family with two adults with two children in the state of Delaware would need to earn approximately $7,761 each month or $93,136 per annum to live comfortably here. Here is the rationale on the average figures per month: Food: $847.

What is a livable salary in Delaware?

The living wage in Delaware is $11.50 per hour, or $23,776 per year. This is higher than the state minimum wage of $8.75 per hour, but lower than the average wage of $17.81 per hour.

What is a good income in Delaware?

Is it expensive to live in Delaware?

The cost of living in Delaware is 1% higher than the national average. Housing is 2% lower than the national average, while utilities are 3% lower. When it comes to basic necessities such as food and clothing, groceries are around 4% higher than in the rest of the country, while clothing costs 4% higher.

Is Delaware an affordable state to live in?

With no state or local income tax, moderate income tax rates, and one of the country's lowest effective property tax rates, the Delaware cost of living is even more affordable than you may think! Tax benefits of living in Delaware go beyond low property taxes and no sales tax.

Is 100k salary good in Delaware?

The median income in Delaware is $66,706. Defining 'good' relies on all sorts of variable factors, and these should be taken into account. For example, $100,000 may be considered a 'good' salary in certain areas of Delaware, while it may be insufficient to cover living expenses in other areas.

Is 90K a good salary in Delaware?

90K Salary in Delaware. $59,600 is the 25th percentile. Salaries below this are outliers. $86,100 is the 75th percentile.

Why are houses so cheap in Delaware?

It's likely that a major contributing factor to the lively nature of the housing market, (at a very robust 72%) in Delaware is that fact that there are no state-level property taxes.

What is middle class income in Delaware?

What city in Delaware is cheapest to live?

Among the best affordable places to live in Delaware are the state capital, Dover, and Wilmington. In addition, there are many budget-friendly suburbs near each of these centers.

How much is an average house in Delaware?

Housing costs in Delaware

As of March 2023, the average home value in Delaware is estimated to be around $359,000, according to the Zillow Home Value Index as of March 2023.

Why do people want to live in Delaware?

Delaware's prime location on the East Coast offers a significant advantage to its residents. Positioned between the bustling urban centers of New York City and Washington, D.C., Delaware provides quick and convenient access to these metropolitan hubs' cultural, economic, and professional opportunities.

What is the cheapest part of Delaware?

What is the best thing about living in Delaware?

An Affordable Cost of Living Meets High Quality of Life

From the bustling city streets of Wilmington and the historic avenues of Dover to fun-loving boardwalks at the beach and verdant fields and farmlands in the countryside, Delaware offers a diverse and vibrant lifestyle that holds appeal for everyone.

What are the pros and cons of living in Delaware?

Are houses cheaper in Delaware?

Median home prices in Delaware increased 11.7%, according to data from March 2023. The median sale price for all home types in Delaware is $309,200 in March 2023. Lewes, Dover, Milford, and Wilmington are among the top 10 metros in Delaware with the fastest-growing sales prices.

How rare is a 100k salary?

According to the U.S. Census, only 15.3% of American households make more than $100,000 annually. A $100,000 salary can yield a monthly income of $8,333.33, a biweekly paycheck of $3,846.15, a weekly income of $1,923.08, and a daily income of $384.62 based on 260 working days per year.

What is Delaware minimum wage?

The minimum wage has been revised in Delaware, United States of America, from 01 January 2024. The minimum wage for all except tipped workers is increased from $11.75 to $13.25 per hour. Note: This minimum wage increase might not reflect the inflationary trends.

What is high income in Delaware?

What is the average monthly income in Delaware?

Delaware ranks number 2 out of 63 states for salaries on ZipRecruiter. As of Mar 24, the average annual salary in Delaware is $67,643. Just in case you need a simple salary calculator, that works out to be approximately $32.52 an hour. This is equivalent of $1,300 a week or $5,636 a month.

What is the poverty line in Delaware?

According to the Department of Health and Human Services' Federal Poverty Guidelines, the poverty threshold for a family with one parent and two children was $23,030 in 2022.

Is rent high in Delaware?

Delaware rentals average $1,495 for a studio rental to $2,900 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $1 per square feet. For the apartment units and housing in April 2024, median rents have risen substantially over the last year.

Is it cheaper to build a house or buy a house in Delaware?

Yes. In most cases, building a house in Delaware is cheaper if you own the land. You will bear only the cost of building the home. Plus, you can customize your home to your requirements!

Why is Delaware rent so high?

There's a lot of demand for that. Plus, land and construction costs are so expensive, it's just not profitable to build low-cost apartments unless you have government subsidies.

What salary is upper class?

In 2020, according to Pew Research Center analysis, the median for upper income households was around $220,000 and the median for middle income households was slightly above $90,000.