A Guide to the Cost of Living in Delaware

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Delaware is located in the mid-Atlantic region of the United States. It borders Maryland to the south and west, Pennsylvania and New Jersey to the north, and the Atlantic Ocean to the east. It takes its name from the nearby Delaware River. According to the US Census Bureau, the state had approximately 973,764 residents as of July 1, 2019, an increase of about 8.4% since 2010. The cost of living in Delaware is a little higher than that of average US states.

Nevertheless, the state remains one of the most desirable places to live and work. The lack of sales tax has seen many people relocate to the state to live and work.

What’s the cost of living in Delaware?

Delaware is a bit more expensive than the average cost of living compared to most other states in the United States. The cost of goods and services in the region is about 1.2% higher than in any other state. Compared to the rest, this state ranks 18th for the highest cost of living in the U.S. If you rent in densely populated urban metropolitan areas, expect a higher cost of living than a tenant in a more rural area.

The state has only one metropolitan area. For example, in the metropolitan area of ​​Dover, the cost of goods and services is about 7.8% lower than the national average. It is also 6.6% lower than the state average. A family with two adults and two children in the state of Delaware would need to earn around $ 7,761 per month or $ 93,136 per year to live comfortably here.

Here is the rationale for the average figures per month:

  • Food: $ 847
  • Housing: $ 1,137
  • Child health care: $ 1,621
  • Adult health care: $ 1,100
  • Transport: $ 1,149
  • Other necessities: $ 801
  • Taxes: $ 1,106

For example, a single-family budget in this state is higher than the average for a budget in the nearby Philadelphia metro area. In Philadelphia, a family of the same size would spend only $ 7,600 per month to achieve a modest standard of living.

How much does an apartment cost in Delaware?

Housing contributes a lot to the cost of living in Delaware. A typical tenant here leaves with $ 1,110 per month for rent and utilities, which is more than the national average monthly rent of around $ 87. The median monthly rent for a one-bedroom apartment in Delaware is $ 886. Rent for a typical apartment with two or more bedrooms is about $ 1,646.

Keep in mind that the rent varies depending on the size of the apartment and the location you choose. You can find accurate information on the actual cost of rent relative to the size of the house by frequently checking the listings.

Browse apartments for rent across Delaware

How to find a cheap apartment in Delaware?

You can save money when looking to rent an apartment in Delaware by finding a cheaper alternative. The cost of housing varies throughout the year, so consider the following tips for finding an affordable apartment in Delaware:

1. Budget

Finding an apartment to rent is as essential as being able to pay the rent. Consider your budget before you start looking for an inexpensive apartment. A reasonable rent you pay should be 30% of your monthly salary. According to CNBC, families who spend more than 30% of their monthly income on rent are overburdened with costs. Therefore, cheap accommodation for you should not be more than what you can afford, based on your income.

2. Find a roommate

You can save more on rent if you move in with a roommate. First, decide on the general price you can easily afford to determine if you need a roommate. You can choose to share a large house with a few roommates to access the many benefits, including allowing you to move to a larger location with more amenities for less monthly payments. The downside would be to sacrifice your privacy to reduce the cost of living in Delaware. Sharing your apartment with someone else is not a problem if you are used to living with other people and have all agreed on responsibilities using the model agreement of basic roommate.

3. Join social media groups

There are myriads of housing groups on social media where tenants post cheap apartment listings. Groups make it easy to find the best places in Delaware and surrounding areas by allowing landlords and tenants to interact freely. Log in to Facebook, find groups, and submit a request to join. Once approved, you can search for posts advertising cheap Delaware apartments and even upload your personalized ads describing what you’re looking for on the forums.

4. Search new areas

Finding a cheap apartment in Delaware’s upscale neighborhoods can be difficult, even if you want to live with a roommate. Hence, it pays to look for homes in a less trendy but bustling area where you can get more listings at affordable rates.

What’s the cheapest rent in Delaware?

The average size of an inexpensive apartment in Delaware is estimated to be 648 square feet. The price range for such an apartment is between $ 464 and $ 4,100. If your budget is small, consider sticking to the lower spectrum of the price range. These apartments are cheaper, easier to maintain and have smaller spaces, which reduces utility costs.

Delaware has always been a state for young professionals and retirees. While the cost of a livelihood is slightly higher, employment opportunities also increase, making it a great place to live and work. There is something for every tenant’s needs. All you need is a thorough search to find an affordable apartment that meets your needs and that meets your desired cost of living in Delaware.

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