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Cost of Living in South Wilmington

Is it better to rent or buy in South Wilmington? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$84,943
$1,082/mo

Median in area: $1,082

$185,700

Median in area: $185,700

$37,140

If you Rent

🔑
$1,330 /mo
Base Rent$1,082
Est. Utilities$248
% of Income18.8%
Pre-tax Residual$5,749

If you Buy

🏠
$1,615 /mo
P&I (6.831%)$972
Taxes & Ins$395
Est. Utilities$248
% of Income22.8%
Pre-tax Residual$5,464

Cost of Living FAQs

Is it cheaper to rent or buy in South Wilmington?›

Based on median housing data, renting is currently more affordable on a monthly basis in South Wilmington. The estimated all-in monthly cost for renting is $1,330, while owning a median-priced home with a 20% down payment is roughly $1,615 per month (a difference of $285).

How much do utilities cost in South Wilmington?›

The average monthly utility cost (electricity and natural gas) for a typical home in South Wilmington is approximately $248. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in South Wilmington?›

To comfortably afford the median rent and utilities in South Wilmington without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $53,200 per year.