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Everyone wants a home that mixes affordability with comfort and Delaware does this very well. Families love the First State's beaches, midlands, and mountains as tourists before moving here and calling it home.
But before you decide to relocate, you have to do some research into the exact cost of living around the state -- and that's how we're going to help you.
These are the places in Delaware that cost a pretty penny -- the most expensive cities in the state.
After we saved up for months and could finally afford it, we landed on this list of the ten most expensive cities in Delaware for 2022.
So where is the most expensive place to live in Delaware? That would be Millville.
the 2016-2020 American Community Survey for the 31 places in Delaware with more than 1,000 people.
What's the most expensive place to live in Delaware? Well, HomeSnacks crunched the numbers and discovered that Millville is the most expensive place to live in Delaware.
So hopefully Cheswold (the cheapest place to live in Delaware) can show these guys how to live on a budget in the coming years. Read on for how these places had costs rise faster than inflation.
And if you already knew these places were expensive, check out some more reading about Delaware and the most expensive cities in the country:
The 10 Most Expensive Places To Live In Delaware For 2022
The median income in Millville comes in at $70,938 and the median home value is $335,900 for 2022.
The median income in Ocean View comes in at $75,852 and the median home value is $367,800 for 2022.
The median income in Georg comes in at $41,943 and the median home value is $222,300 for 2022.
The median income in Lewes comes in at $72,609 and the median home value is $612,700 for 2022.
The median income in Newark comes in at $60,767 and the median home value is $277,700 for 2022.
The median income in Millsboro comes in at $50,931 and the median home value is $212,200 for 2022.
The median income in Rehoboth Beach comes in at $117,083 and the median home value is $1,147,600 for 2022.
The median income in Bridgeville comes in at $47,830 and the median home value is $312,000 for 2022.
The median income in Milford comes in at $45,948 and the median home value is $199,600 for 2022.
The median income in Milton comes in at $59,924 and the median home value is $301,800 for 2022.
Methodology: How We Determined The Most Expensive Places To Live In The First State For 2022
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 2016-2020 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 most 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 31 places in Delaware that have more than 1,000 people.
The place with the highest cost of living in Delaware according to the data is Millville. You can download the data here.
Summary: Taking A Chunk Out Of Your Paycheck In Delaware For 2022
Well there you have it, the places in Delaware that have the highest cost of living, with Millville ranking as the most expensive city in the First State.
Here's a look at the most affordable cities in Delaware according to the data:
For more Delaware reading, check out:
- Best Places To Live In Delaware
- Cheapest Places To Live In Delaware
- Most Dangerous Cities In Delaware
- Best Places To Raise A Family In Delaware
- Safest Places In Delaware
- Worst Places To Live In Delaware
Detailed List Of The Most Expensive Cities In Delaware