Milford cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexMilfordDelawareNational
Cost of living index102111100
IndexMilfordDelawareNational
Goods & Services index105107100
Groceries index105106100
Health care index9698100
Housing index99126100
Transportation index9597100
Utilities index109109100
Displayed above is a general overview of the Milford, DE cost of living index. The overall cost of living index in Milford, DE is 102, which is 9% lower than the Delaware average and 2% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Milford, DE are 2% lower than the Delaware average and 5% higher than the national average.

Did you know?

  • The cost of living in Milford is 9% lower than the Delaware average.
  • The cost of living in Milford is 2% higher than the national average.
  • The cost of housing in Milford is 1% lower than the national average.
  • Delaware general sales tax is 100% lower than the national average.
  • Delaware state income tax is 100% lower than the national average.

Find Real Estate Listings In Milford

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Milford

Compare Milford, DE Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current salary in Milford, DE to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Milford, DE, then you would need to earn more income in order to maintain the same standard of living. To use the Milford, DE salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$61,637$5,136$1,438$1,849
Renters$29,862$2,489$697$896
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Milford, DE, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Milford, DE homeowners have a median income of $61,637. Using that number, you will come up with a maximum of $1,438 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $29,862, which means there is a maximum of $697 to be spent on the costs of renting a home or apartment.

Delaware Sales Tax

StateGeneral Sales TaxWith Max Surtax
Delaware0%0%

Delaware Income Tax

StateIncome Tax (Low)Income Tax (High)
Delaware0%6.75%
When you are determining the total cost of living in Milford, DE you will want to make sure you consider both the Delaware sales tax and the Delaware income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in Delaware is 0%, with the highest surtax being 0%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in Delaware have a range from 0% to 6.75%.

Goods & Services

ItemMilfordNational avg.Difference
Haircut $12.33$15.5620.8%
Beauty Salon $33.33$36.117.7%
Toothpaste $2.63$2.476.2%
Shampoo $1.05$0.968.8%
Movie $11.67$10.1315.2%
Bowling $4.79$4.741.2%

Groceries

ItemMilfordNational avg.Difference
Ground Beef $4.77$3.9819.8%
Fried Chicken $1.59$1.4112.8%
Milk $2.02$2.062.3%
Potatoes $3.74$2.9825.3%
Pizza $9.61$9.471.4%
Beer $9.66$8.799.8%

Health Care

ItemMilfordNational avg.Difference
Optometrist $131.00$101.0429.6%
Doctor $82.39$107.4423.3%
Dentist $88.34$90.422.3%
Ibuprofen $9.90$9.286.7%
Lipitor $434.08$426.501.8%

Housing

ItemMilfordNational avg.Difference
Home Price $181,300.00$175,700.003.2%
Avg. Mortgage Payment $861.28$1,133.2324.0%
Apartment Rent $810.00$920.0012.0%

Transportation

ItemMilfordNational avg.Difference
Gasoline $1.88$1.995.6%
Tire Balancing $43.80$45.764.3%

Utilities

ItemMilfordNational avg.Difference
All Electricity$182.99$163.8111.7%
Phone $29.95$28.395.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Farmington, DE8888-12%
Harrington, DE3,64398-2%
Frederica, DE1,08599-1%
Woodside East, DE2,140100-0%
Viola, DE1781011%
Milford, DE9,8821022%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Bloomingdale, TN9,88290-10%
Vernal, UT9,88298-2%
Friendly, MD9,88113131%
Columbia, IL9,88999-1%
Clinton, TN9,87483-17%
Milford, DE9,8821022%
Source: The Milford, DE cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.