Why You Should Retire in Delaware: The Best State for 2024

9 minute read

What You’ll Gain From Reading This Article: Gain a comprehensive understanding of why Delaware is ranked the top retirement destination in 2024. Explore Delaware’s tax benefits, reasonable cost of living, local attractions, and 55+ communities.

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Are you dreaming of an East Coast retirement? The cosmopolitan feel of New York might be what first comes to mind. Or, you might think of the stunning fall colors and mountainous scenery of Vermont. But one small East Coast state has recently climbed the ranks to become the top retirement spot in 2024.

Bankrate conducted an exhaustive ranking of best places to retire, and Delaware is at the top of the list. Why retire in Delaware? It’s one of the smallest states in the country, but what it lacks in size it more than makes up for in affordability, climate, and things to do. Could you picture yourself enjoying your retirement years here?

Affordability

For many people planning their retirement, affordability is a primary consideration. Delaware snagged the top spot on Bankrate’s list for that very reason. First and foremost, the state is tax-friendly. If you spend your retirement years here, you won’t have to pay taxes on your Social Security benefits. Delaware doesn’t have a state or local sales tax, and property taxes are less expensive than the rest of the country, according to Bankrate.

The overall cost of living in Delaware is slightly more expensive than the average in the United States—3.5% higher, according to Best Places. But compared to other coastal states, Delaware has a very reasonable cost of living. You can get beautiful ocean views and still stick to your budget.

55+ Community Recommendations

• Heritage Shores – Bridgeville, DE: Heritage Shores is a 55+ community featuring an 18-hole golf course. This large active adult community has nearly 2,000 homes ranging in price from the low $300ks to the high $500ks.  
• Noble’s Pond – Dover, DE: Noble’s Pond is inspired by the Main Street charm of the 1950s and 1960s. Once construction on this 55+ community is completed, it will have a total of 800 single-family and attached homes priced in the high $300ks to the high $400ks.
• The Ponds at Bayberry – Middletown, DE: The Ponds at Bayberry is a new 55+ community in Delaware. You will find a mix of single-family and attached homes selling in the low $500ks to high $500ks in this active adult community. 
• Independence – Millsboro, DE: Independence is another 55+ community currently under construction in Delaware. When completed, it will feature 455 single-family homes in 12 different styles. Home prices range from the high $400ks to the low $800ks.
• Bishop’s Landing – Millville, DE: Bishop’s Landing is an active lifestyle community that attracts residents with its low-maintenance lifestyle and amenities. It has a total of 449 homes starting in the high $500ks and going up to the low $600ks.

Health Care

Quality health care is a top priority for many people in their retirement years. In 2024, U.S. News & World Report ranked Delaware the second-best state in the country for hospital quality. The state also earned high marks in several other categories of this ranking: #6 for health care quality, #9 for best states for health care, and #10 for health care access.

ChristianaCare Hospitals is the top-ranked hospital in the state. U.S. News & World Report notes that this health care provider is high-performing in two specialties and 13 procedures/conditions. Delaware is also home to several other high-performing hospitals. Retiring in this East Coast state offers the convenience and peace of mind of quality health care close to home.

Climate

Delaware is a coastal state. It’s located on the Atlantic Ocean, and it’s flanked by two major bays: Delaware Bay and Chesapeake Bay. While coastal states are often associated with hurricanes, these are rare in this state. However, with tropical storms and other seasonal weather, the state gets a decent amount of rain and snow.

In Delaware, you can expect hot summers and cold winters. You can expect temperatures to get up into the 80s in summer and down below freezing in winter. Some people want to leave the cold entirely behind in their retirement years. But if you embrace the changing of the seasons, you will find yourself at home in Delaware.

Location and Accessibility

Delaware gets major points for its location and accessibility. You can enjoy all that the state has to offer while only being a few hours from Baltimore, New York, Philadelphia, and Washington, D.C. If you want to get away to enjoy time in a major city, that option is always there.

Delaware’s largest regional airport is Wilmington Airport. You may also fly in and out of Philadelphia International Airport, depending on your travel destination.

Within the state, DART First State is the major public transportation provider with more than 500 buses and 70 routes. Residents can also ride the metro subway, elevated, and trolley lines within the state. The Amtrak and PATCO also operate in Delaware, giving residents access to destinations within the state and outside of it.

Recreation and Leisure

Your Delaware retirement will put you within easy reach of plenty of options for recreation and leisure. As a coastal state, much of Delaware’s waterfront is made up of beautiful beaches. Rehoboth Beach is home to a boardwalk and sandy strip of shoreline that draws sunbathers, swimmers, and shoppers. Bethany Beach also has a boardwalk and beautiful waterfront that offers both relaxation and excitement. You can eat oceanside, or you can get out on the water to surf or kayak.

While beaches are alluring, they aren’t the only outdoor space to explore in Delaware. You can also discover the natural beauty of the state parks. You can hike, bike, bird watch, swim, and picnic at spots like White Clay Creek State Park and Fenwick Island State Park.

When you aren’t hitting the beaches, you can hit the green. Delaware is home to many public golf courses and private golf clubs. Discover 27 scenic holes at Bear Trap Dunes, or challenge yourself to the 18 holes at The Rookery South. Whether you are looking to seriously up your game or simply looking to enjoy some quality time with your clubs, there’s no shortage of courses to discover in Delaware.

Community and Culture

A significant portion of Delaware’s population is over 62, one of the reasons Bankrate ranked the state as the best retirement spot. With so many residents enjoying their retirement years, there are plenty of people to connect with and build a community. Many of the communities in the state are tight-knit and welcoming to new members. Especially if you’re looking to settle down in a 55+ community, there are plenty of opportunities to get to know your neighbors.

However you build connections in Delaware, you will never lack places to experience culture and fun together. The state is home to many museums, theaters, and art galleries. Biggs Museum of American Art in Dover boasts an impressive collection of modern and historical work dating back to the 700s. Delaware Theatre Company puts on shows in Wilmington. You can also find art galleries catering to nearly any taste and medium in Wilmington, Rehoboth Beach, and more.

Delaware also brings people together with festivals and events throughout the year. You can look forward to plenty of holiday cheer in the winter. The Jaycees put on an annual Christmas parade in Wilmington, and Rehoboth Beach hosts a tree lighting and holiday sing-along in November. During the spring and summer months, you’ll have plenty of chances to smell the flowers (literally at the Wilmington Flower Market) and listen to live music (try Ladybug Music Festival in Wilmington).

Educational Opportunities

If you’re planning to retire in Delaware, you can easily embrace a commitment to learning. The University of Delaware undergraduate or granted programs are available to residents who are 60 or older tuition-free. You can apply and pursue your passion for learning as a part-time or full-time student, paying only for your textbooks and supplies.

While you can dedicate your time to being a student again, you also have opportunities to attend classes that fit with the rest of your busy schedule. The University of Delaware also offers classes through the Osher Lifelong Learning Institute. Each semester, more than 2,000 people participate in the program, which offers more than 300 different courses in subjects like history, art, literature, science, and more.

The University of Delaware isn’t your only option for educational enrichment. Delaware State University also offers adult and continuing education opportunities.

The state’s library system also offers ways for the 55+ community to connect and learn. For example, the Delaware Division of Libraries and the Delaware Division of the Arts work together on the Delaware Creative Aging program.

55places Can Help You Buy a Home in Delaware

Given its affordability, location, and myriad opportunities for active adults to enjoy their time, it’s no surprise that Delaware is being recognized as a retirement hotspot. Contact 55places.com today to start your home search in Delaware!