Cost of Living in Middletown, DE

An Overview of Cost of Living in Middletown, DE

Knowing the cost of living in Middletown allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Middletown stands at 117, marking it 17% higher than the national average.

Housing costs are a very significant part of the Middletown cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 53.2% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.

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

The most insightful perspective on a city comes from its residents. We recently surveyed 5 locals to gauge their perception of the cost of living in Middletown. The feedback revealed that 40% of respondents found the cost of living to be reasonable, with prices on the decline, while 60% regarded it as notably expensive with prices that continue to rise.

Is Middletown Affordable?

Is Middletown 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 Middletown, the median home price is 59.6% higher than the national average and monthly rent prices are 38.1% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Middletown boasting a median household income of $91,663, 65.7% higher than the national average.

What Factors can Influence the Cost of Living in Middletown?

Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Middletown, healthcare costs are 1.1% lower than the national average.

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.

Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.

Where is the Data From?

The Middletown cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.