New Castle County leads state in purchasing power

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New Castle County residents continue to have more purchasing power than residents of Kent and Sussex.

In its second annual study, SmartAsset, a New York financial technology company, considered those metrics to determine the best places to save money.

In the case of New Castle County, a higher cost of living was offset by higher median household income.

Not included in the report were ower property tax rates in Kent and Sussex counties. The lower rates have contributed to an influx of retirees from higher-tax states.

Delaware also has a tax environment that is favorable for many retirees.

Rank County Median Household Income Cost of Living Purchasing Power Estimated Tax Rate Best Places to Save Index
1 New Castle, DE $66,283 $36,104 1.84 12.27% 54.90
2 Sussex, DE $54,218 $32,324 1.68 12.27% 49.14
3 Kent, DE $55,184 $34,856 1.58 12.27% 45.72
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