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Average Cost of Living in Delaware: An In-Depth Guide

If you’re looking to buy a home in Delaware, you might not know how to get started. Estimating costs is hard when moving out-of-state and figuring out where to begin. Learning about the market and how to look at the average cost of living can help you decide if Delaware is cost effective for you.
If you’re looking to buy a home in Delaware, you might not know how to get started. Estimating costs is hard when moving out-of-state and figuring out where to begin. Learning about the market and how to look at the average cost of living can help you decide if Delaware is cost effective for you.

Moving to a new area is always tricky when trying to estimate the cost. Even if it’s a place you’ve always dreamed of living, you need to know how much these costs are. Are they compatible with your job, or will you get offered other opportunities that can make up for the cost of living?

Getting a solid idea before moving out allows you to plan for the cost of living, such as ensuring you can afford a home, insurance, and all the extras that come with it. While research is an important part of this equation, it’s just as necessary to work with a local real estate agent who can offer proper guidance and advice, while assisting you in figuring out the cost of living in your proposed new state.

If you’re planning on moving to Delaware, also known as the First State, here’s some basic information that can give you a well-rounded idea of what to expect. You can plan the best time to move and buy a home in Delaware. Take this knowledge into account as you work with your real estate agent to come up with a final number for your home purchase.

Typical Home Prices in Delaware in 2019

The real estate market in Delaware is described as hot right now. That means there’s a lot of competition to live in the state, and prospective buyers are willing to pay sellers more money than what the market value of a home is. Currently, the median value of a home in Delaware state is $237,300.

Other helpful data in relation to the homebuyer market shows that the values have gone up over 0.9% in the past year, with predictions they’ll rise .06% in 2019. The average cost boils down to $149 per square foot. While most homes are listed for $249,990, they sell for an average of $234,300.

The average home sits on the real estate market for a little over 100 days. It’s important to work with a skilled real estate agent when buying your home, so you can negotiate for a lower price. You should expect to pay more to live in the state of Delaware, but it is possible to attempt a negotiation.

How Much Are Delaware Property Taxes?

If you’re moving to Delaware for the first time, you might take advantage of an exemption when paying the transfer tax after buying a house. Most first-time home buyers are eligible for this if their property cost less than $400,000. If the property is more than $400,000, the transfer tax is 1.25% of the amount more than $400,000.

While the transfer tax is a one time issue, many prospective homeowners are still curious about property taxes. Delaware has some of the lowest tax rates in the country, with a tax rate of .056%, This translates to $1,078 for a home that is worth $194K. Overall, the average annual taxes on most homes that are priced at the state median value is $1,329.

Property taxes can be difficult to understand as you’re factoring in other costs. In cases like these, it’s best to consult with a realtor for help and guidance. Talking with a qualified real estate agent can give you a better idea of what to be aware of when moving to Delaware and dealing with property taxes.

Average Homeowners Insurance in Delaware

Delaware offers some of the lowest rates for homeowner’s insurance. According to, Delaware’s average annual rate is $748 on a $200,000 home, with a $1,000 deductible and $100,000 liability. This is $480 less than the national average rate of $1,288.

Other ways you can get a better idea of how much you’ll pay for homeowner’s insurance involves your home’s condition and how old it is. Other factors that play a role include the crime rate where the home is and your credit score.

If you’re required to pay more than you’d like for homeowner’s insurance, there are things you can do to lower the cost. If you live in a neighborhood that has a high crime rate, installing a home security system can help bring your overall insurance rate down.

Talk with your real estate agent to learn more about homeowner’s insurance and the estimated costs for any potential homes you’re interested in. Your agent can help you find out about discounts and other ways you can ensure a lower rate.

Common Home Maintenance and Repair Costs in Delaware

Delaware is prone to rain frequently, with the average amount of rainfall being 45 inches per year, more than the US average which is 38 inches. Because of how much rain you’ll deal with, possible home costs can include repairing gutters and downspouts. This can range from $173 to $520, depending on the size of your home, how old it is, and how much work is needed to keep the gutters working.

Another issue related to the amount of rainfall the state sees is roof repair. Again, age of the house and how much work is needed dictates the overall cost. It’s helpful to know that it can range from $351 to $1,329.

Crime rates in Delaware are higher than those of the national average. In this case, it’s useful to have a home security system installed iif you’re moving from a low-crime state and aren’t anticipating the possible changes and how to protect yourself. It’s not necessary to go with the highest or most costly security system, but something that can provide protection for your home when you’re gone can deter criminals and help you feel equipped to handle anything that comes your way.

Other Costs of Living in Delaware to Consider

Delaware is a small state, so you might not find everything you’re looking for here when seeing the sights or enjoying the nightlife. Although there is public transportation in the form of Amtrak and buses, it’s important to have a car, if you’d like to drive out of state to experience the sights.

Some people feel the public schools are not up to par with other parts of the country. If you have children and find this concerning, perhaps invest additional money in a private or religious school to avoid this issue.

Because there’s so many people living in a small state, you must travel to find parks and places to hike and take in the outdoors, if that’s something you enjoy. Again, this isn’t impossible, but you’ll need a car to get to your preferred destination, so get ready for extra travel.

Talk to your real estate agent, so you feel comfortable about knowing what to expect before moving to Delaware.

Find a Top Delaware Real Estate Agent

Working with an experienced real estate agent who is local can give you the help and guidance you’re looking for when planning an out-of-state move to Delaware. Besides getting you the lowest price possible for the home you’re looking for, they can help you outline what you should expect to pay while living there.

Clever Partner Agents can help you find the home you’re envisioning, while giving you the opportunity to take part in a homeowner’s rebate program. This can give you $1,000 back in your pocket with no negotiation necessary.

Get started today by contacting a Clever buyer’s agent who can help you get started on your move.


Reuven Shechter

Reuven Shechter is the Outreach Coordinator at Clever Real Estate, the free online service that connects you with top real estate agents to help save on commission. He spreads the word about Clever, disseminating studies to journalists and developing relationships with media outlets. Reuven is passionate about investing in real estate and creating lasting success for families. His writing has been featured in Max Real Estate Exposure, Leverage Marketing, and more.

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