Depending on your lifestyle and priorities, Wilmington, DE, can be a great place to live. Wilmington offers an affordable cost of living, especially with no state sales tax and low property taxes, making it attractive for those looking to save on daily expenses. The city is well-situated near Philadelphia, Baltimore, and Washington, D.C., allowing residents to access larger cities while enjoying a quieter, community-focused lifestyle. Wilmington also has a growing job market, particularly in finance, banking, and healthcare. This city also has a vibrant cultural scene along the Riverfront, with museums, parks, and seasonal events.
History Of Wilmington, De
Like the majority of cities in the east, Wilmington has been changing for more than 350 years. The area stabilized under British rule (with Quaker influence) after periods of Swedish (1638), Dutch (1655), and British (1664) colonization. In 1739, the King of England granted a borough charter, changing the name from Willington (after Thomas Willing, the first “developer” of the land who laid it out in a grid pattern like Philadelphia) to Wilmington, likely in honor of Spencer Compton, Earl of Wilmington, a favorite of the King.
The town gradually grew into a thriving commercial and residential area between the time the charter was granted and the Revolution. Wilmington was strategically important during the Revolution because of its resources, important leaders, position, and milling industry.
Living Expenses
Unfortunately, Wilmington has a higher cost of living than nearby states and cities. In particular, Wilmington, Delaware, has a 10% higher cost of living than the national average. Housing, utilities, groceries, and transportation are some of the areas that define the total cost of living, and these costs can change based on a number of variables. Wilmington’s low taxes make it an affordable option on the East Coast, while costs like groceries and dining are close to national averages.
- The cost of housing is 10% greater than the national average.
- The utilities cost has decreased by 12%.
- The cost of transport (gas and bus fares) has increased by 12%.
- Prices for groceries are up 11%.
- Healthcare expenses have increased by 16%.
Property Rates In Wilmington, De
With an average of five offers and a 19-day listing period, Wilmington’s real estate market is extremely competitive. Last month, the median price of a property was $497,808, up 2.0% from the year before.
It’s crucial to remember that Wilmington is still a seller’s market, which drives up prices and speeds up property transactions. If you want to purchase a home in the region, this information is essential.
Given the escalating cost of homes in Wilmington, housing expenses rank among the most important factors to take into account when calculating the total cost of living.
The median home price in Wilmington is around $250,000–$300,000, which is affordable compared to nearby cities like Philadelphia or New York.
Wilmington’s real estate market has been relatively stable, with moderate appreciation in recent years. Homes in popular neighborhoods tend to appreciate more, and properties close to the Riverfront and Trolley Square are often in high demand.
Wilmington, De Weather Each Year
Wilmington, DE, is the ideal location for you if you want to live somewhere where you can experience all four seasons. Wilmington’s mild climate allows for more extensive annual temperature variations as well as noticeable seasonal variations.
Wilmington experiences different weather conditions all year round. The winters are frigid and covered in snow, and the summers are hot and muggy. With an average high temperature of 85 degrees Fahrenheit, July is the hottest month, while January is the coldest, with an average low temperature of 27 degrees.
Wilmington’s snow season, which lasts around four months from the end of November to March, is perfect for snow lovers. With an average of six inches of snowfall, February has the greatest snowfall of any month.
However, spring and early summer would be the most comfortable seasons to visit the city if you’re seeking the ideal time of year. However, relocating to Wilmington can be ideal for you if you want to live somewhere with consistently mild temps.
Crime Rates In DE
Crime Rates Approximately 4,100 crimes, including 3,100 property crimes and 1,000 violent crimes, are reported in Wilmington each year. Wilmington has an overall crime rate of 59 offenses per 1,000 residents, which is far higher than the state of Delaware’s rate.
Regretfully, Wilmington has a higher crime rate than other states and cities in the area. Crime rates are typically greater in the city’s southern section, close to the river. Therefore, it is best to look for housing in Wilmington’s northern area if you are thinking about moving there.
Options For Food And Dining
A person’s existence and the cost of living are greatly impacted by the daily expense of food. In Wilmington, the average annual food expenditure for a family of four is approximately $9,714; the average yearly expenditure for a single adult is approximately $3,364. These numbers are approximations that could change based on the individual and family. These expenses, however, are comparable to the national and state averages.
Wilmington, however, is renowned for having some of the state’s greatest dining establishments. There are several options to suit every taste, ranging from casual to upscale dining. Some of the most popular restaurants in the area are listed here.
Wilmington DE Job Market
Wilmington is a stunning city in the North that is known as the Corporate Capital of America and the urban center of the region. The median household income in this area is $49,354 annually, while the average is $72,244.
It is a hub for innovation and banking, with countless work options for anyone, making it a popular destination for families and young professionals. Wilmington’s unemployment rate, however, is at 10%, higher than the 6% national average.
Wilmington’s job market has grown by 2.7% in the past year, despite the high unemployment rate that currently exists. Over the next ten years, job growth is expected to reach 28.8%, which is below the national average but still encouraging.
Given that the national average sales tax rate is 7%, Wilmington’s lack of sales tax rates is one of its most alluring aspects. It is important to keep in mind, nevertheless, that Wilmington’s income tax rate is 8% when the national average is 4.6%.
All things considered, Wilmington is a vibrant city with a lot to offer its citizens. This city offers something for everyone, from reasonably priced shopping to a thriving employment market and countless chances. Wilmington might therefore be the ideal location for you if you’re seeking a fresh start.
Education Systems In DE
Numerous esteemed schools and universities, including Wilmington University and the Delaware College of Art and Design, are located in Wilmington. There are 304 schools in the city, comprising 114 elementary schools, 38 high schools, 57 middle schools, and more than 200 preschools.
Based on a number of criteria, including equity and academic achievement, Wilmington boasts some of the greatest public schools in the region. It’s crucial to look at some of the best local schools if you’re relocating to Wilmington with kids and want to live somewhere with great educational options.
Wilmington’s educational system is run by the well-regarded Red Clay Consolidated School District. With a 14:1 student-teacher ratio, it has more than 15,000 pupils in grades PK–12.
Pros and Cons
Pros
- Excellent liveability
- Excellent instruction
- Lovely weather
- Various
- Minimal sales tax
- Restaurants with a high-ranking
Cons
- Elevated Criminal Activity
- Increased housing expenses
- low income in the median
- Rainy conditions
- Strong storms
FAQ
Is Wilmington, Delaware, A Great Location To Live?
With so many eateries, coffee shops, and parks to choose from, Wilmington provides its citizens with a pleasant fusion of urban and suburban moods. This makes it a popular place for families and young professionals to relocate.
Is It Costly To Live In Wilmington, Delaware?
Because housing costs in Wilmington are almost 10% more than the national average, living there can be expensive. Utility bills, however, are less costly. Additionally, the cost of basic essentials like food and clothing is higher than the national average. Despite this, Wilmington is a fantastic place to live because it provides a lot of advantages to its citizens.
What Should I Know Before Relocating To Wilmington, Delaware?
Wilmington’s suburban neighborhoods, close proximity to large cities, varied educational possibilities, and excellent liveability are the main reasons why people are relocating there.
Why Are Individuals Relocating To Delaware In Such Large Numbers?
Delaware has emerged as a popular location for East Coast benefits because of its low taxes, reasonably priced housing, robust job economy, and close proximity to major financial hubs.
