If you are a first time home buyer, it’s easy to look at the home’s sale price and stop there. But there are several smaller, related costs that you’ll want to take into consideration as you plan your budget and your future. One of these costs is real estate tax. If you have owned homes before and are looking to relocate, it’s still smart to investigate real estate tax, as taxes vary state to state, county to county, and even city to city.
From median income to home values and rent rates, taxes, utilities, groceries, health care, transportation, and other miscellaneous costs, there’s much that goes into determining a state’s cost of living. Below, we take a detailed look at individual factors that determine the cost of living in Delaware, as well as how these numbers compare to national and regional averages.
The state of Delaware is a bit of a hidden gem when it comes to top spots for retirement. What makes it so attractive? Delaware is a low-tax state, and is an easy drive to major metropolitan cities like Philadelphia and Baltimore, as well as the District of Columbia. "The First State" offers a wealth of culture and history, and is in close proximity to highly-rated health care facilities like Johns Hopkins Hospital. Surrounded by 19 state parks and trails to help retirees stay active and fit, learn more about Delaware’s retirement benefits here.