10 Best Cities to Retire in Delaware in 2021

10 Best Cities to Retire in Delaware in 2021

If you’re thinking about retiring in the Northeast, Delaware can be a great destination. When you’re looking at is Delaware a good place to retire, it’s important to consider all the factors, from the cost of living to the 65-plus population to the restaurants and shopping nearby. Here are 10 great cities to consider for your post-retirement years.

Stephanie Faris

Published October 25th, 2021

Table of Contents

Key Takeaways

  • Delaware is stocked full of small, charming towns that will give you plenty to do in retirement.
  • The cost of living is higher than average overall, but you’ll find some cities are more affordable than others.
  • Delaware offers long, chilly winters, but you’ll also get milder summers.

If you’re thinking about retiring in the Northeast, Delaware can be a great destination. When you’re looking at is Delaware a good place to retire, it’s important to consider all the factors, from the cost of living to the 65-plus population to the restaurants and shopping nearby.

Retiring in Delaware means cold, snowy winters, but you’ll also get a beautiful fall and spring and a milder summer than in southern states. Although the state is tax friendly, with no Social Security tax or sales tax, the cost of living is higher than average. By looking around, you can find the most affordable town that gives you all the amenities you need. Here are 10 great cities to consider for your post-retirement years.

Salisbury

CITY POPULATION: 32,935
SHARE OF POPULATION 65+: 11.5%
COST OF LIVING FOR RETIREES: 2% above the national average
PER CAPITA INCOME FOR POPULATION: $21,990
TAX RATING FOR RETIREES: Tax Friendly

Those looking for affordable beach towns in Delaware should start their search in the Salisbury area. The city is filled with some of the best beachfront towns, as well as other small, charming areas like Delmar and Blades. It’s also a great choice if you’re trying to decide whether to retire in Delaware or Maryland since it’s right on the border.

Dover

CITY POPULATION: 38,166
SHARE OF POPULATION 65+: 14.4%
COST OF LIVING FOR RETIREES: 6% above the national average
PER CAPITA INCOME FOR POPULATION: $25,130
TAX RATING FOR RETIREES: Tax Friendly

If you’re looking specifically for the best retirement communities in Delaware, Dover is likely your best option. You’ll find multiple 55-plus communities, as well as some of the best neighborhoods in Delaware overall. You’ll also get plenty of dining options and attractions, including sporting and cultural events.

Newark

CITY POPULATION: 33,515
SHARE OF POPULATION 65+: 13.6%
COST OF LIVING FOR RETIREES: 19% above the national average
PER CAPITA INCOME FOR POPULATION: $28,092
TAX RATING FOR RETIREES: Tax Friendly

Several sites have awarded Newark as one of the best places to retire in Delaware 2018, 2019 and beyond. Best known as home to the University of Delaware, the city has plenty of outdoor and indoor recreation, as well as access to all the amenities.

Wilmington

CITY POPULATION: 70,875
SHARE OF POPULATION 65+: 12.9%
COST OF LIVING FOR RETIREES: 8% above the national average
PER CAPITA INCOME FOR POPULATION: $30,238
TAX RATING FOR RETIREES: Tax Friendly

One of the best-known northern Delaware towns is Wilmington, a large city that will have pretty much everything you could need. Beautiful gardens and cultural attractions will give you plenty to do. You’ll also have access to top-notch healthcare, including Christiana Care, which is headquartered in Wilmington and has multiple locations in the area.

Milford

CITY POPULATION: 11,732
SHARE OF POPULATION 65+: 20.6%
COST OF LIVING FOR RETIREES: 5% above the national average
PER CAPITA INCOME FOR POPULATION: $26,710
TAX RATING FOR RETIREES: Tax Friendly

Milford is another charming town that’s one of the best places to retire in Delaware. A river walk and park give you plenty of space to enjoy the outdoors, and you’ll find a large selection of boutiques, restaurants, and attractions downtown.

Middleton

CITY POPULATION: 22,900
SHARE OF POPULATION 65+: 16.3%
COST OF LIVING FOR RETIREES: 19% above the national average
PER CAPITA INCOME FOR POPULATION: $39,809
TAX RATING FOR RETIREES: Tax Friendly

Middleton’s rapid growth and abundant 55-plus communities make it one of the best cities in Delaware for enjoying retirement. The cost of living is high, but the over-65 population is sizable, as well, making it a good choice for more affluent retirees.

New Castle

CITY POPULATION: 5,392
SHARE OF POPULATION 65+: 20.8%
COST OF LIVING FOR RETIREES: 10% above the national average
PER CAPITA INCOME FOR POPULATION: $43,969
TAX RATING FOR RETIREES: Tax Friendly

If you like historic buildings, you’ll probably find New Castle one of the best towns in Delaware. One of the best things about New Castle, though, is its close proximity to Wilmington, where you’ll find all the best restaurants, as well as dining and shopping options.

Seaford

CITY POPULATION: 8,013
SHARE OF POPULATION 65+: 17.3%
COST OF LIVING FOR RETIREES: Even with the national average
PER CAPITA INCOME FOR POPULATION: $24,811
TAX RATING FOR RETIREES: Tax Friendly

Any list of the best towns to retire in Delaware has to include Seaford, which has been named one of the best small towns in America. It has a modest population that contains its fair share of those over age 65, and it’s also packed with arts and culture, including plenty of events.

Hockessin

CITY POPULATION: 13,478
SHARE OF POPULATION 65+: 24.5%
COST OF LIVING FOR RETIREES: 42% above the national average
PER CAPITA INCOME FOR POPULATION: $58,730
TAX RATING FOR RETIREES: Tax Friendly

If you’re looking for a family-friendly place, consider Hockessin. In this town, you’ll get a diversity of housing options and access to all the amenities. But what really makes it one of the best places to retire in DE is its easy commute to the airport.

Georgetown

CITY POPULATION: 7,563
SHARE OF POPULATION 65+: 17.7%
COST OF LIVING FOR RETIREES: 5% above the national average
PER CAPITA INCOME FOR POPULATION: $25,652
TAX RATING FOR RETIREES: Tax Friendly

As you’re looking at where to retire in Delaware, Georgetown is another location to consider. You’ll have a short drive to the beach, but there’s plenty to do without ever leaving town. Residents enjoy regular festivals and concerts in the park to keep that small-town feel.

Bottom Line

Why is Delaware a good state to retire? Arts and culture are at the forefront of the reasons, but the tax friendliness also makes it a winner. It’s important to consider the higher than average cost of living in your decision, though. Wherever you decide to retire, Retirable can help by working with you to craft a plan. That will ensure you can enjoy your dream retirement without worrying about your finances.

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Author

Stephanie Faris

Stephanie Faris has written about finance for entrepreneurs and marketing firms since 2013. She spent nearly a year as a writer for a credit card processing service and has written about finance for numerous marketing firms and entrepreneurs. Her work has appeared on Money Under 30, The Motley Fool, MoneyGeek, E-commerce Insiders, and GoBankingRates.

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