Cost Of Living in Georgetown, DE

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B+

7%

Overall NAT. AVG.

6%

Goods & Services NAT. AVG.

19%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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	107	108	100
Goods & Services	106	104	100
Groceries	100	102	100
Health care	104	103	100
Housing	119	121	100
Transportation	98	102	100
Utilities	95	98	100

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Cost Of Living Quick Facts

The cost of living in Georgetown is 1% lower than the Delaware average
The cost of living in Georgetown is 7% higher than the national average
Georgetown housing is 19% higher than the national average
Delaware general sales tax is 100% lower than the national average
Delaware state income tax is 15% 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	$64,271	$5,356	$1,500	$1,928
Renters	$39,032	$3,253	$911	$1,171

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 $64,271. This indicates that a monthly maximum of $1,500 should be spent by homeowners on all housing related costs. Renters have a median income of $39,032. This indicates that renters would have a maximum of $911 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	$29.11	$24.26	20.0%
Beauty Salon	$52.88	$45.56	16.1%
Toothpaste	$3.76	$3.70	1.6%
Shampoo	$1.20	$1.28	6.5%
Movie	$13.93	$12.13	14.8%
Bowling	$23.28	$18.00	29.3%

Groceries

Item	Georgetown	National avg.	Difference
Ground Beef	$5.47	$5.84	6.3%
Fried Chicken	$1.34	$1.57	14.8%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.39	$4.93	9.2%
Pizza	$12.81	$12.09	6.0%
Beer	$10.53	$10.41	1.1%

Health Care

Item	Georgetown	National avg.	Difference
Optometrist	$144.11	$125.68	14.7%
Doctor	$139.66	$135.78	2.9%
Dentist	$132.33	$113.29	16.8%
Ibuprofen	$10.65	$10.65	0.0%
Lipitor	$369.07	$468.60	21.2%

Housing

Item	Georgetown	National avg.	Difference
Home Price	$222,300.00	$184,700.00	20.4%
Avg. Mortgage Payment	$2,380.70	$2,346.69	1.4%
Apartment Rent	$1,088.00	$949.00	14.6%

Transportation

Item	Georgetown	National avg.	Difference
Gasoline	$3.40	$3.46	1.7%
Tire Balancing	$57.32	$59.92	4.3%

Utilities

Item	Georgetown	National avg.	Difference
All Electricity	$182.13	$193.99	6.1%
Phone	$182.79	$192.25	4.9%

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	Population	Cost of Living Index	National Avg.
Long Neck, DE	2,869	86	14.0%
Farmington, DE	184	91	9.1%
Laurel, DE	4,311	96	4.3%
Blades, DE	1,123	97	2.7%
Ellendale, DE	751	98	2.2%
Georgetown, DE	7,436	107	7.0%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Scappoose, OR	7,436	123	23.2%
Ellwood City, PA	7,436	89	11.5%
Whitinsville, MA	7,435	124	24.1%
Clarkston, WA	7,435	97	2.7%
Montpelier, VT	7,434	115	15.4%
Georgetown, DE	7,436	107	7.0%