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We're pretty sure that most people know that Delaware's state bird is the Blue Hen Chicken and that Dover is the state's capital, but did you know that the First State has some really cool, really affordable places to live in the country?
Yes, there are affordable places in Delaware, but you're going to have to know how to navigate the state's above average cost of living if you're going to call it home. And that's where HomeSnacks comes in, folks. We took a look at the US Census data and cost of living data for Delaware and created a list of the cheapest places to live in the Blue Hen State for 2020 .
And guess what? You don't have to sacrifice comfort for affordability if you choose to live in one of Delaware's most affordable places. The state has hip millennial cities like Smyrna, family friendly cities like Wyoming, and retirement cities like Seaford for every budget. With statistics like these, it's no wonder that many of Delaware's most affordable places are also some of the Delaware's fastest growing cities. Do we think there's a direct correlation between jobs, affordability, and people flocking to these affordable places to live the Delaware dream? Absolutely
So, want to know where you can your income will go the furthest in Delaware? Keep reading.
It's not rocket science, people. When you live in one of Delaware's most affordable places, you'll save money on the fun things to do and see in the oldest state in the country. Like, scoring tickets to the Delaware Taco Festival in Wilmington or taking a road trip to Bethany Beach.
So, where is Delaware's most affordable place to live ? We suggest you take a look at Delaware's number one most affordable place for 2020, Wyoming.
To see how your city compared, take a look at the list below. And if you don't find your favorite there, head to the bottom.
And if you already knew these places were cheap, check out some more reading about Delaware and the cheapest places in the country:
The 10 Cheapest Places To Live In Delaware For 2020
/10
Population: 1,437
Rank Last Year: 1 (No Change)
Home Price To Income Ratio: 2.6x (2nd most affordable)
Income To Rent Ratio: 71.2x (8th cheapest)
More On Wyoming: Homes For Sale | Data | Photos
The median income in Wyoming comes in at $69,118 and the median home value is $177,500 for 2020.
/10
Population: 1,478
Rank Last Year: 15 (Up 13)
Home Price To Income Ratio: 2.9x (4th most affordable)
Income To Rent Ratio: 72.1x (7th cheapest)
More On Felton: Homes For Sale | Data | Photos
The median income in Felton comes in at $63,945 and the median home value is $183,100 for 2020.
/10
Population: 1,313
Rank Last Year: 4 (Up 1)
Home Price To Income Ratio: 1.7x (1st most affordable)
Income To Rent Ratio: 50.0x (21st 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 $48,103 and the median home value is $83,100 for 2020.
/10
Population: 1,140
Rank Last Year: 3 (Down 1)
Home Price To Income Ratio: 2.9x (5th most affordable)
Income To Rent Ratio: 79.6x (1st cheapest)
More On Bellefonte: Homes For Sale | Data | Photos
The median income in Bellefonte comes in at $77,917 and the median home value is $223,500 for 2020.
/10
Population: 11,333
Rank Last Year: 7 (Up 2)
Home Price To Income Ratio: 3.1x (6th most affordable)
Income To Rent Ratio: 56.7x (13th 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 $61,220 and the median home value is $187,800 for 2020.
/10
Population: 7,572
Rank Last Year: 5 (Down 1)
Home Price To Income Ratio: 3.5x (14th most affordable)
Income To Rent Ratio: 56.2x (14th 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 $46,387 and the median home value is $160,500 for 2020.
/10
Population: 1,790
Rank Last Year: 12 (Up 5)
Home Price To Income Ratio: 3.6x (17th most affordable)
Income To Rent Ratio: 53.0x (16th cheapest)
More On Delmar: Homes For Sale | Data | Photos
The median income in Delmar comes in at $40,529 and the median home value is $147,600 for 2020.
/10
Population: 1,017
Rank Last Year: 2 (Down 6)
Home Price To Income Ratio: 3.3x (12th most affordable)
Income To Rent Ratio: 51.2x (20th cheapest)
More On Greenwood: Homes For Sale | Data | Photos
The median income in Greenwood comes in at $45,625 and the median home value is $150,800 for 2020.
/10
Population: 2,332
Rank Last Year: 8 (Down 1)
Home Price To Income Ratio: 2.8x (3rd most affordable)
Income To Rent Ratio: 75.5x (5th cheapest)
More On Townsend: Homes For Sale | Data | Photos
The median income in Townsend comes in at $117,964 and the median home value is $324,700 for 2020.
/10
Population: 1,719
Rank Last Year: 14 (Up 4)
Home Price To Income Ratio: 3.2x (11th most affordable)
Income To Rent Ratio: 53.7x (15th cheapest)
More On Delaware City: Homes For Sale | Data
The median income in Delaware City comes in at $56,833 and the median home value is $184,100 for 2020.
How We Determined The Most Affordable Places To Live In The First State For 2020
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 2014-2018 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. You can download the data here.
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 2020.
Here's a look at the most expensive cities in Delaware according to the data:
- Newark
- Millville
- Newport
For more Delaware reading, check out:
- Best Places To Retire In Delaware
- Safest Places In Delaware
- Best Places To Raise A Family In Delaware
Where Are The Most Affordable Places To Live In Delaware?
| Rank | City | CheapScore |
|---|---|---|
| 1 | Wyoming | 7.0 |
| 2 | Felton | 7.67 |
| 3 | Cheswold | 7.67 |
| 4 | Bellefonte | 9.33 |
| 5 | Smyrna | 11.33 |
| 6 | Seaford | 11.67 |
| 7 | Delmar | 12.0 |
| 8 | Greenwood | 12.17 |
| 9 | Townsend | 12.33 |
| 10 | Delaware City | 13.0 |
