Delaware – Retirement Guide

Delaware   Retirement Guide

Top Retirement Cities in Delaware: 

Rehoboth Beach | Smyrna

Tiny Delaware offers big perks as a retirement destination. Much of this sliver of state is coastline, and many charming coastal and beach communities attract retirees. It’s literally a challenge to avoid a waterway in Delaware. The state is flanked by 26 miles of Atlantic Ocean coastline, 25 miles of Delaware Bay coastline, and 115 miles of inland bay shoreline.

Beyond prime waterfront real estate, the state’s low tax rates are another bonus for retirees; Delaware has no sales tax, Social Security benefits are tax exempt, and seniors can exempt a portion of pension and investment income from state taxes, which max out at 6.75% for top earners.

Location is everything in Delaware. As mentioned, relaxing coastal communities are reason for retirees to choose Delaware as a retirement destination, but so too is the state’s proximity to other tourist destinations like Philadelphia, Washington, DC and New York City. All are an easy drive or train ride away, and can give retirees a taste of nearby urban culture.

Pros: Low taxes, beachside communities
Con: High cost of living in some areas

At a Glance:
Best For: Beach lovers
Population: 917,092
Cost of Living: 13% higher than national average
Median Home Cost: $196,200
Unemployment: 7.1%
Top State Income Tax: 6.75%

Still, Delaware has a higher cost of living than the national average, though this is often isolated to certain towns. Retirees are advised to research cost of living in town’s they are interested in before relocating.

Top Retirement Cities in Delaware:  Rehoboth Beach | Smyrna

Photo by Nouhailler via Flickr. All statistics were up to date as of publication. See these sources for the most current data.