Georgetown, Delaware Cost Of Living

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D

Overall 9%

Goods & Services 17%

Housing 1%

Date & Last Updated: This data reflects 2019 and was released from C2ER in January, 2020; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Georgetown	Delaware	National
Cost of living	109	114	100
Goods & Services	117	116	100
Groceries	127	121	100
Health care	96	100	100
Housing	101	121	100
Transportation	99	104	100
Utilities	93	93	100

Key findings

The cost of living in Georgetown is 5% lower than the Delaware average
The cost of living in Georgetown is 9% higher than the national average
Georgetown housing is 1% higher than the national average
Delaware general sales tax is 100% lower than the national average
Delaware state income tax is 11% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$49,247	$4,104	$1,149	$1,478
Renters	$35,981	$2,998	$840	$1,080

The affordability of the housing market in Georgetown, DE as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Georgetown homeowners, the median income is $49,247. This indicates that a monthly maximum of $1,149 should be spent by homeowners on all housing related costs. Renters have a median income of $35,981. This indicates that renters would have a maximum of $840 for their rent related monthly costs.

Delaware Sales Tax

State	General Sales Tax	With Max Surtax
Delaware	0%	0%

Delaware Income Tax

State	Income Tax (Low)	Income Tax (High)
Delaware	2.2%	6.6%

Goods & Services

Item	Georgetown	National avg.	Difference
Haircut	$16.50	$17.49	5.7%
Beauty Salon	$40.00	$38.17	4.8%
Toothpaste	$2.89	$2.32	24.5%
Shampoo	$1.07	$1.01	5.7%
Movie	$11.50	$10.72	7.2%
Bowling	$18.00	$13.86	29.9%

Groceries

Item	Georgetown	National avg.	Difference
Ground Beef	$4.59	$3.90	17.7%
Fried Chicken	$2.09	$1.40	49.7%
Milk	$2.32	$1.96	18.2%
Potatoes	$4.52	$3.18	42.0%
Pizza	$10.00	$10.39	3.8%
Beer	$7.99	$9.23	13.4%

Health Care

Item	Georgetown	National avg.	Difference
Optometrist	$106.50	$106.34	0.2%
Doctor	$106.50	$115.25	7.6%
Dentist	$88.50	$98.38	10.0%
Ibuprofen	$11.79	$9.26	27.3%
Lipitor	$467.89	$466.47	0.3%

Housing

Item	Georgetown	National avg.	Difference
Home Price	$199,800.00	$184,700.00	8.2%
Avg. Mortgage Payment	$1,135.23	$1,273.32	10.8%
Apartment Rent	$810.00	$949.00	14.6%

Transportation

Item	Georgetown	National avg.	Difference
Gasoline	$2.44	$2.59	5.9%
Tire Balancing	$54.00	$48.90	10.4%

Utilities

Item	Georgetown	National avg.	Difference
All Electricity	$153.32	$167.60	8.5%
Phone	$173.76	$163.42	6.3%

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, State	Population	Cost of Living Index	National Avg.
Long Neck, DE	2,656	93	-7%
Laurel, DE	3,984	102	2%
Blades, DE	1,302	103	3%
Seaford, DE	7,417	103	3%
Greenwood, DE	1,280	105	5%
Georgetown, DE	6,917	109	9%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Upper Sandusky, OH	6,917	86	-14%
Forest Glen, MD	6,915	139	39%
Kaufman, TX	6,919	92	-8%
Plaquemine, LA	6,920	91	-9%
Live Oak, FL	6,921	82	-18%
Georgetown, DE	6,917	109	9%

Source: The Georgetown, DE cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.

Georgetown, DE Cost of Living

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