Cost of Living in Delaware

Delaware has no state sales tax making it popular for shoppers looking for tax-free purchases. There is also no local sales taxes making it even more attractive as a shopping destination. Delaware’s tax-free shopping is a day trip away from cities in Pennsylvania, Maryland, New Jersey, and Washington DC. If you currently live in a state with a sales tax and are sick of all the “extra” costs added to each purchase, you will immediately see the advantage Delaware offers. Without a sales tax, the price of your purchase will be more straightforward. What you see on the price tag is actually what you will pay! Over time, not having to pay a tax on each purchase will help you to achieve a lower cost of living. Delaware does have a fairly high state income tax. This means that if you work in Delaware, your paycheck will be subject to both state and federal income taxes. ( 2023-07-25 salary.com )

The largest contributor to any cost of living estimate is housing. In Delaware, the cost of renting a home could be about the same as purchasing one, but may still be the better overall option for you. Renting generally has fewer up-front costs. If you hate the idea of having to spend time or money on yard maintenance, renting could be a better fit for you. Utilities are often included as part of the rent and may help to reduce your energy budget. Renting may also offer on-site amenities like a fitness center, pool, play area or tennis courts that would be out of reach if you were to purchase a home. Wrapping those expenses into your rent could potentially leave you with more disposable income and a lower cost of living. Renting can give you a chance to experience a new location before making the major commitment of buying a home. ( 2023-07-25 salary.com )

Delaware is ranked number 16 out of all states in overall healthcare access and affordability. Healthcare costs make up a significant part of the cost of living. The ability to afford healthcare as well as the ability to access care are key indicators of how much you will be paying for this important resource if you move to another state. Affordability is generally measured by the rates set for insurance coverage in a state, as well as the out-of-pocket expenses that need to be paid by you when receiving the care. If rates or out-of-pocket expenses are high, your cost of living will increase. Access to healthcare is how easy or difficult it may be to receive the care. Access is measured by identifying barriers that might prevent the delivery of care such as the inability to obtain insurance coverage, having to travel long distances to health care centers and lack of sufficient facilities and/or healthcare professionals. The timeliness of care, how fast you can get to see a healthcare provider, is another important measure. ( 2023-07-25 salary.com )