Newark, DE

Above Avg · 112

Delaware · Population 30,309 · Updated March 2026

$1,611
Median Rent / Month
$71,373
Median Income
$357,600
Median Home Value
$1,542
Owner Costs / Month

Affordability

How far your income goes in Newark

27.1%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Delaware

State-level tax rates that affect your costs

6.6%
Income Tax (Top Rate)
0%
Sales Tax
0.57%
Property Tax Rate

Estimated Annual Costs

$19,332
Annual Rent
$4,711
State Income Tax
$2,038
Property Tax (est.)

Cost of Living Overview

Newark is more expensive than the national average. Higher housing costs are typically the primary driver. With a cost index of 112 (where 100 equals the national median), Newark residents can expect to pay median rent of $1,611/month while earning a median household income of $71,373/year.

The median home value in Newark, DE is $357,600, with typical monthly owner costs around $1,542 including mortgage, insurance, and taxes. With a rent-to-income ratio of 27.1%, Newark falls within the generally affordable range, though it's approaching the 30% burden threshold.

Delaware has a moderate income tax rate of 6.6%. Combined with a 0% sales tax rate and 0.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Newark.

Frequently Asked Questions

Common questions about living costs in Newark

What is the cost of living in Newark, DE?
The cost of living index in Newark, DE is 112 (US average = 100). Median monthly rent is $1,611, median household income is $71,373/year, and the median home value is $357,600.
Is Newark, DE affordable?
No, Newark is more expensive than the national average with a cost index of 112. The rent-to-income ratio is 27.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Newark, DE?
The median gross rent in Newark, DE is $1,611 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $19,332.
What is the median household income in Newark?
The median household income in Newark, DE is $71,373 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Delaware?
Delaware has a top income tax rate of 6.6%, a sales tax of 0%, and an effective property tax rate of 0.57%.