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Cost of Living in Wilmington

Is it better to rent or buy in 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.

$81,764
$1,460/mo

Median in area: $1,460

$372,638

Median in area: $372,638

$74,528

If you Rent

🔑
$1,610 /mo
Base Rent$1,460
Est. Utilities$150
% of Income23.6%
Pre-tax Residual$5,204

If you Buy

🏠
$2,767 /mo
P&I (6.5%)$1,884
Taxes & Ins$733
Est. Utilities$150
% of Income40.6%
Pre-tax Residual$4,046

Cost of Living FAQs

Is it cheaper to rent or buy in Wilmington?›

Based on median housing data, renting is currently more affordable on a monthly basis in Wilmington. The estimated all-in monthly cost for renting is $1,610, while owning a median-priced home with a 20% down payment is roughly $2,767 per month (a difference of $1,157).

How much do utilities cost in Wilmington?›

The average monthly utility cost (electricity and natural gas) for a typical home in Wilmington is approximately $150. This estimate uses local utility rate schedules combined with median energy consumption profiles.

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

To comfortably afford the median rent and utilities in Wilmington without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $64,400 per year.