Housing costs in Newark?
A typical home costs
$325,700, which is 3.7% less expensive than the national average of
$338,100 and 3.1% less expensive than the average Delaware home, at
$336,200. Renting a two-bedroom unit in Newark costs
$1,490 per month, which is 4.2% more than the national average of
$1,430 and 10.7% more than the state average of
$1,330.
Can I afford Newark?
To live comfortably in Newark, Delaware, a minimum annual income of
$62,280 for a family, and
$49,200 for a single person is recommended.
What does A.I. say about Newark?
The cost of living in Newark, DE is generally considered to be relatively affordable, with median home values slightly below the national average at $226,900. Renters can expect to pay an average of $1,300 for a one-bedroom apartment, while groceries and other consumer goods are about 13% lower than the national average. Utility costs such as electricity and water are very competitively priced compared to other parts of the country. The low cost of living combined with ample job opportunities make Newark a great place for people who are looking for an affordable place to live.