B+
6%
Overall NAT. AVG.
1%
Goods & Services NAT. AVG.
17%
Housing NAT. AVG.
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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 Smyrna Delaware National
Cost of living106108100
Goods & Services101104100
Groceries100102100
Health care99103100
Housing117121100
Transportation101102100
Utilities10798100

An Overview of Cost of Living in Smyrna, DE

Getting a feel for the cost of living in Smyrna is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Smyrna is 106, which is 6% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Smyrna are priced in a manner consistent with other areas. This means that residents of Smyrna can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

What Do Locals Say About the Cost of Living in Smyrna?

Locals have the inside scoop on their city. So, we polled 5 residents in Smyrna to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 40% find it reasonable with decreasing prices, but 60% think it's quite pricey, with prices that continue to rise.

Is Smyrna Affordable?

Is Smyrna affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Smyrna, the median home price is 13.9% higher than the national average and monthly rent prices are 24.7% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Smyrna boasting a median household income of $59,830, 8.1% higher than the national average.

What Factors can Influence the Cost of Living in Smyrna?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Smyrna, the housing index comes in at 17.1% higher than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Smyrna, the general sales tax rate starts at 0%, and income tax rates begin at 0%.

Where is the Data From?

The cost of living data in Smyrna displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Smyrna is 2% lower than the Delaware average
  • The cost of living in Smyrna is 6% higher than the national average
  • Smyrna housing is 17% 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

Most Affordable Places to Live in and Around Smyrna

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Compare Smyrna, DE Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$65,982$5,499$1,539$1,980
      Renters$48,620$4,052$1,134$1,459
      The affordability of the housing market in Smyrna, 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 Smyrna homeowners, the median income is $65,982. This indicates that a monthly maximum of $1,539 should be spent by homeowners on all housing related costs. Renters have a median income of $48,620. This indicates that renters would have a maximum of $1,134 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 Smyrna National avg. Difference
      Haircut $23.17$24.264.5%
      Beauty Salon $52.17$45.5614.5%
      Toothpaste $3.59$3.703.1%
      Shampoo $1.28$1.280.0%
      Movie $12.40$12.132.2%
      Bowling $19.44$18.008.0%

      Groceries

      Item Smyrna National avg. Difference
      Ground Beef $6.11$5.844.7%
      Fried Chicken $1.41$1.5710.1%
      Milk $4.68$4.670.1%
      Potatoes $5.38$4.939.0%
      Pizza $12.29$12.091.7%
      Beer $11.43$10.419.8%

      Health Care

      Item Smyrna National avg. Difference
      Optometrist $143.30$125.6814.0%
      Doctor $134.50$135.780.9%
      Dentist $120.11$113.296.0%
      Ibuprofen $10.51$10.651.3%
      Lipitor $377.86$468.6019.4%

      Housing

      Item Smyrna National avg. Difference
      Home Price $210,300.00$184,700.0013.9%
      Avg. Mortgage Payment $1,951.15$2,346.6916.9%
      Apartment Rent $1,183.00$949.0024.7%

      Transportation

      Item Smyrna National avg. Difference
      Gasoline $3.44$3.460.5%
      Tire Balancing $62.39$59.924.1%

      Utilities

      Item Smyrna National avg. Difference
      All Electricity $214.53$193.9910.6%
      Phone $195.25$192.251.6%
      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.
      Hartly, DE1678316.5%
      Henderson, MD1578910.7%
      Little Creek, DE288937.3%
      Leipsic, DE141954.9%
      Sudlersville, MD423954.6%
      Smyrna, DE11,6941066.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      El Campo, TX11,695964.5%
      Salem, OH11,6928812.4%
      Tomball, TX11,689991.1%
      Excelsior Springs, MO11,6888910.9%
      Spearfish, SD11,7021011.5%
      Smyrna, DE11,6941066.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.