Laurel, DE Cost Of Living

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Laurel 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.
Index	Laurel	Delaware	National
Cost of living index	102	114	100
Index	Laurel	Delaware	National
Goods & Services index	117	116	100
Groceries index	127	121	100
Health care index	96	100	100
Housing index	78	121	100
Transportation index	99	104	100
Utilities index	93	93	100

A general overview of the cost of living index for Laurel, DE is displayed above. In Laurel, DE, the overall cost of living index is 102, which is 11% lower than the Delaware average and 2% higher than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Laurel, DE, the city's goods and services are 1% higher than the Delaware average and 17% higher than the U.S. average.

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Did you know?

The cost of living in Laurel is 11% lower than the Delaware average.
The cost of living in Laurel is 2% higher than the national average.
The cost of housing in Laurel is 22% lower than the national average.
Delaware general sales tax is 100% lower than the national average.
Delaware state income tax is 1% lower than the national average.

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Compare Laurel, DE Cost of living To Other Cities

Salary Calculator

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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

The salary calculator is used in order to provide a comparison of your current salary in Laurel, DE to another city of your choice. The calculator will inform you of what your salary needs to be in any specific city in order for you to maintain your living standard based on what the city’s cost of living is. As an example, if you are seeking to move to a city that has a higher cost of living compared to Laurel, DE, you would have to earn a higher income to maintain a standard of living that is similar. To get started with the Laurel, DE salary calculator, input the new city’s name and then move the slider to indicate your current income. The salary calculator will now process the numbers and show you whether you need to earn more or less in the chosen city. A comprehensive breakdown of the cost of living will also be shown.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$48,878	$4,073	$1,140	$1,466
Renters	$25,179	$2,098	$587	$755

If you want to find a good determining factor for the cost of living and the general affordability of housing in Laurel, DE, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Laurel, DE, the median monthly income is $48,878 for those who own their own homes. Under the standard rule, that income level would allow for $1,140 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $25,179, per the median income in the area. That would allow for renters to spend up to $587 on monthly rental expenses.

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%

For those who live in Laurel, DE and want to know what the true cost of living is, they ought to look at both the Delaware income tax rate and the Delaware sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In Delaware, the sales tax is 0%, while the most you'll pay in surtax is 0%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in Delaware, the income tax rate ranges between 2.2% to 6.6%.

Goods & Services

Item	Laurel	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	Laurel	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	Laurel	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	Laurel	National avg.	Difference
Home Price	$142,700.00	$184,700.00	22.7%
Avg. Mortgage Payment	$1,135.23	$1,273.32	10.8%
Apartment Rent	$753.00	$949.00	20.7%

Transportation

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

Utilities

Item	Laurel	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.
Quantico, MD	25	112	12%
Whaleyville, MD	102	112	12%
Delmar, DE	1,792	100	0%
Federalsburg, MD	2,675	101	1%
Pittsville, MD	1,335	101	1%
Laurel, DE	3,984	102	2%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Bloomfield Hills, MI	3,984	200	100%
Crescent Springs, KY	3,986	101	1%
Dundee, FL	3,986	84	-16%
Berne, IN	3,982	81	-19%
Desoto Lakes, FL	3,982	111	11%
Laurel, DE	3,984	102	2%

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

Laurel, DE Cost of Living