A wise sage once said:
“She works hard for the money…”
And these places in Delaware definitely treat her right.
You see, these are the cities and places in Delaware where the cost of living is the lowest; where your salary goes the furthest. And when if you have the luxury of choosing where to live in the First State, then the cost of living should play a role in the decision.
So we did the hard for you and crunched the numbers to find the cities that have lower food, energy, and housing costs. After the dust settled on our analysis of the 32 largest places in Delaware, we were left with this set of the best value for your money.
So where is the cheapest place to live in Delaware? That would be Wyoming.
So listen up Newark (the most expensive place in Delaware) as we explain how we created this ranking. You could learn some things from the rest of the state.
And if you already knew these places were cheap, check out some more reading about Delaware and the cheapest places in the country:
How We Determined The Most Affordable Places To Live In The First State For 2019
The two most important things to think about when it comes to being able to afford if you can live comes down to:
- How much do money do I make?
- How much do I have spend to live there?
You need to understand your costs in the context of how much money you make.
For example, if the median household earns $100,000 and spends $40,000 on housing it’s actually cheaper to live there than a place with a median income of $50,000 and housing costs of $21,000. You might spend more on housing, but you have more money overall to play with.
With that example in mind, we derived several statistics from the latest Census American Community Survey 2013-2017 around incomes and costs. They are:
- Median Home Price / Median Income (lower is better)
- Median Income / Median Rent (Higher is better)
- Median Home Price
We added simply median home price because high home prices generally correlate with higher expenses for all costs related to homes (heating, electricity, etc).
You can then compare these metrics in each of the places in Delaware to figure out which is the least expensive.
What you are left with is a “Cost of Living Index” by taking the average rank of each of these metrics for each city.
So we used that cost of living index in order to rank all of the 32 places in Delaware that have more than 1,000 people.
The place with the lowest cost of living in Delaware according to the data is Wyoming.
The 10 Cheapest Places To Live In Delaware For 2019
/10
Population: 1,554
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 2.4x (2nd most affordable)
Income To Rent Ratio: 69.3x (8th cheapest)
More On Wyoming: Homes For Sale | Data | Photos
The median income in Wyoming comes in at $69,196 and the median home value is $169,300 for 2019.
/10
Population: 1,147
Rank Last Year: 13 (Up 11)
Home Price To Income Ratio: 3.1x (6th most affordable)
Income To Rent Ratio: 52.5x (16th cheapest)
More On Greenwood: Homes For Sale | Data | Photos
The median income in Greenwood comes in at $49,554 and the median home value is $155,900 for 2019.
/10
Population: 1,202
Rank Last Year: 2 (Down 1)
Home Price To Income Ratio: 3.0x (4th most affordable)
Income To Rent Ratio: 84.3x (2nd cheapest)
More On Bellefonte: Homes For Sale | Data | Photos
The median income in Bellefonte comes in at $73,250 and the median home value is $221,200 for 2019.
/10
Population: 1,239
Rank Last Year: 4 (No Change)
Home Price To Income Ratio: 2.4x (1st most affordable)
Income To Rent Ratio: 44.7x (28th cheapest)
More On Cheswold: Homes For Sale | Data
The Old Town area of Cheswold is located at the intersection of Main Street and Commerce Street west of the Delmarva Central Railroad tracks and serves as the oldest settled part of the town. Cheswold is made up of several residential communities, including Parkers Run, Strimmels Mobile Home Park, Fox Pointe Mobile Home Park, Blanton Mobile Home Park, Stonington, and Nobles Pond.
Cheswold has a post office for P.O. boxes with a ZIP code of 19936. However, the delivery of mail in Cheswold is handled by the Dover post office with a ZIP code of 19904. The Cheswold name may be used for mail delivered to addresses in town with the 19904 ZIP code.
The median income in Cheswold comes in at $48,750 and the median home value is $114,600 for 2019.
/10
Population: 7,447
Rank Last Year: 8 (Up 3)
Home Price To Income Ratio: 3.6x (15th most affordable)
Income To Rent Ratio: 54.4x (13th cheapest)
More On Seaford: Homes For Sale | Data | Photos
Seaford is a city located along the Nanticoke River in Sussex County, Delaware. According to the 2010 Census Bureau figures, the population of the city is 6,928, an increase of 3.4% from the 2000 census. It is part of the Salisbury, Maryland-Delaware Metropolitan Statistical Area.
The median income in Seaford comes in at $44,886 and the median home value is $159,400 for 2019.
/10
Population: 10,645
Rank Last Year: 6 (No Change)
Home Price To Income Ratio: 3.4x (12th most affordable)
Income To Rent Ratio: 58.9x (11th cheapest)
More On Milford: Homes For Sale | Data | Photos
Milford is a city in Kent and Sussex counties in the U.S. state of Delaware. According to the 2010 census, the population of the city is 9,559.
The median income in Milford comes in at $52,576 and the median home value is $179,600 for 2019.
Lovely small town experience, nice people. Great downtown area. Great Coffee shop called DOLCE. Great theater, Riverfront Theatre. Wonderful antique shop Maggie and Friend.
The Riverwalk
Dolce
Riverfront Theatre
Milford Art League
Maggie and Friends Antique Shop
Delaware Music School
The Irish Shop
Arena’s
Furbaby
Tattoos and Kayaak rentals
/10
Population: 11,276
Rank Last Year: 6 (Down 1)
Home Price To Income Ratio: 3.4x (11th most affordable)
Income To Rent Ratio: 55.2x (12th cheapest)
More On Smyrna: Homes For Sale | Data | Photos
Smyrna is a town in Kent and New Castle counties in the U.S. state of Delaware. It is part of the Dover, Delaware Metropolitan Statistical Area. According to the Census Bureau, as of 2010, the population of the town is 10,023.
The median income in Smyrna comes in at $54,675 and the median home value is $184,600 for 2019.
/10
Population: 2,195
Rank Last Year: 8 (No Change)
Home Price To Income Ratio: 3.0x (3rd most affordable)
Income To Rent Ratio: 75.0x (5th cheapest)
More On Townsend: Homes For Sale | Data | Photos
The median income in Townsend comes in at $105,000 and the median home value is $313,900 for 2019.
/10
Population: 20,754
Rank Last Year: 10 (Up 1)
Home Price To Income Ratio: 3.2x (7th most affordable)
Income To Rent Ratio: 77.1x (4th cheapest)
More On Middl: Homes For Sale | Data | Photos
The median income in Middl comes in at $87,375 and the median home value is $282,200 for 2019.
/10
Population: 1,382
Rank Last Year: 11 (Up 1)
Home Price To Income Ratio: 3.3x (9th most affordable)
Income To Rent Ratio: 42.5x (29th cheapest)
More On Blades: Homes For Sale | Data
The median income in Blades comes in at $43,264 and the median home value is $143,800 for 2019.
There You Have It Mr. Or Mrs. Delaware Cheapskate
If you’re looking at the cost of living numbers in Delaware, this is an accurate list of the most affordable places to live in delaware for 2019.
Here’s a look at the most expensive cities in Delaware according to the data:
- Newark
- Selbyville
- Millville
For more Delaware reading, check out:
- 10 Best Places To Raise A Family In Delaware
- 10 Safest Places In Delaware
- These Are The 10 Richest Cities In Delaware
