Wilmington Cost of Living

What living in Wilmington costs

Wilmington carries a cost index of 1.00x the national baseline, placing it above 49 of the 99 metros tracked and below 42. Rent runs about $1,500 monthly; the median home is near $320,000.

Price-to-rent sits around 18 — the middle band where buying and renting are close enough that the decision turns on how long you will stay and what else you would do with the down payment.

Working and living here

Wilmington is a metro of roughly 0.7M and roughly flat, running on banking/finance, chemicals, healthcare. Larger employers include Bank of America, JPMorgan Chase, ChristianaCare.

Two tax details that change take-home here: Wilmington levies a local income tax of about 1.25% on top of state and federal — roughly $1,250 a year on a $100,000 salary — and Delaware taxes income as well.

Getting around: Wilmington is served by limited transit. Budget for a car — around $9,000 a year all-in once insurance, fuel, maintenance and parking are counted, a cost the index assumes but does not itemise.

Climate: Mid-Atlantic climate with cold winters near 27°F lows and hot humid summers with July highs near 87°F.

City of Wilmington levies a 1.25% local wage tax, and it remains a major banking-industry hub due to Delaware's favorable corporate law and tax structure.