Cost of Living

Cost of living is the typical day to day expenses expected of individuals and families to spend in order to maintain a certain quality of living in a particular location. Several factors affect the total amount of money needed and knowing these costs before moving into a specific area would be very helpful. Our report sheds light on the usual spending habits one would expect if he plans to live in the region.

check out our original blog post at https://www.derealtygroup.com/

2019 Cost of Living Index in Delaware

Delaware being a relatively smaller state tends to have a similar cost of living for its cities, towns, and communities. Unlike most states, Delaware residents typically expects the same bills even if they live in different areas. The table below showcases the difference between the national average which is scored at a standard 100 points for each factor. The total value of 110 showcases that the cost of living in Delaware is a good amount higher than the average one would expect to spend in the country. Families planning to move here from other regions should take their current and potential budget, income, and expenses into consideration when planning to buy a home in the state.

Delaware USA Grocery 101.8 100 Health 108 100 Housing 120 100 Utilities 105 100 Transportation 109 100 Miscellaneous 104 100 Total 110 100

Goods and Services

Goods and services in Delaware are on average marginally higher than the national average with some prices being lower while others being more expensive. For example, a salon haircut in the state is between $36.17 to $38.67 while a standard haircut is $13.22 to $14.17 compared to the average of $37.33 and $16.09. Average movie tickets are $11.50 to $11.75 while the national standard is $10.28.

Housing

Delaware City, DE Neighborhood Report

Population: 1,731 (2014)

Estimated median household income: $59,019 (2016)

Estimated median house value: $190,035 (2016)

Delaware City, DE Market Report

Median Listing Price: $85,000

Price per square foot: $59

Median Closing Price: $110,000

check out our original blog post at https://www.derealtygroup.com/

Utilities

Delaware ranks No.24 in all states in the US in terms of the average monthly utility costs of its residents. Electricity is on average at $107.82, natural gas at $119.17, the internet is $55, cable is $100, and water is $40. The total costs are approximately $421.99 while the national average is $422.08.

Food and Groceries

Same as most states in the country, cooking your food provides additional savings for families living in Delaware. Most food items in the region are similar to the national average with some things being priced lower in comparison to other states.

check out our original blog post at https://www.derealtygroup.com/

Transportation

The average gas price in Delaware is between $2.17 to $2.20 which is lower than the national average of $2.24. Most car repair and maintenance costs are also relatively cheaper in the state compared to other parts of the country.

Healthcare

A visit to your local general practitioner costs around $84.33 to $87.50, a dental check-up is $84.61 to $107.42, and an optometrist ranges between $114.17 to $129. In comparison, the national average of these medical professionals is $108.36 for a GP, $92.53 for a dentist, and $102.16 for an optometrist.

check out our original blog post at https://www.derealtygroup.com/

Taxes

There is no statewide sales tax in Delaware and property taxes are the fifth lowest in the country. The state income tax ranges between 0% and 9% with average taxes for residents coming in at 2.2% to 6.6%.

check out our original blog post at https://www.derealtygroup.com/

If you would like to receive a FREE Competitive Market Analysis, contact me today. Let Me Help You Find Your Home! If you are a buyer, it is important to have the assistance of a Buyer's Agent to represent you during the transaction. If you need additional assistance or would like to schedule a showing, contact our office at 302-685-4042. ************************************************************************************

POSTED BY

Ray Petkevis

Real Estate Team

755 N. Broad St.

Middletown, DE 19709

302-685-4042

info@derealtygroup.com

Healthcare

a