Quick facts: Laurel, DE

Quick Facts

108.1
Cost of Living
above US average
4,161
Population
55.28
Crime Rate per 1000
above US average
$42,710
Median Income
below US average
$279,000
Median House Price
above US average
$1666.67
Average Rent
above US average
Poverty rate Data is updating, will be available soon
5.2%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $42,710.

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Income Needed to Buy

βœ— Stretch
$88k/year
Based on $279,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $88k vs median $42,710
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Income Needed to Rent

⚠ Stretch
$71k/year
Based on $1666.67/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $71k vs median $42,710
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Laurel, DE

Laurel, Delaware, is a charming small town located in Sussex County, known for its rich history and small-town atmosphere. Situated at the intersection of the Nanticoke River and several major highways, Laurel serves as a hub for locals and visitors alike. With a population of around 4,000, it’s a tight-knit community that hosts various cultural events throughout the year, including the popular Laurel Fall Festival. The town has a quaint downtown area featuring local shops, restaurants, and historic buildings that reflect its heritage. Outdoor enthusiasts can enjoy access to the nearby Nanticoke River, which offers opportunities for fishing, kayaking, and scenic walks along the water. Laurel is also home to several parks, providing spaces for recreation and relaxation. The town is close to larger cities like Salisbury, Maryland, and Georgetown, Delaware, allowing for easy access to more extensive amenities while maintaining a peaceful, rural ambiance. Its blend of history, community spirit, and natural beauty makes Laurel a unique place to visit or reside.

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