The $100,000 Salary Analysis for Hockessin CDP, DE

1. The Verification Test

A nominal salary of $100,000 is not the amount that hits your bank account. This breakdown estimates take-home pay for a single filer using 2024 tax brackets and standard deductions.

• Gross Salary: $100,000
• Federal Income Tax: ~ -$14,000 (Marginal rate: 24%)
• FICA (Social Security/Medicare): ~ -$7,650
• Delaware State Income Tax: ~ -$4,900 (Progressive rates; effective rate ~4.9%)
• ESTIMATE Net Pay (Annual): ~$73,450
• ESTIMATE Net Pay (Monthly): ~$6,120

2. Smart Budget (50/30/20)

Based on your monthly net of $6,120, here is the reality of the 50/30/20 rule in Hockessin.

• Needs (50% - $3,060):
  • Rent (1BR): $0 (Data currently unavailable. Assume market rate for New Castle County: $1,400 - $1,600).
  • Utilities/Internet: $200.
  • Groceries/Household: $500.
  • Car/Insurance/Gas: $500 (Required area).
  • Remaining for Needs: $260 (Buffer).
• Wants (30% - $1,836):
  • Dining out, entertainment, subscriptions, shopping.
• Savings/Debt (20% - $1,224):
  • Retirement contributions, student loans, or emergency fund.

3. Hockessin CDP Tax Context

Delaware is a High-Tax State compared to the national average.

• vs. Texas/Florida: You pay ~$4,900 more in state income tax annually than someone earning $100,000 in a state with 0% income tax.
• vs. California/NY: Delaware is significantly lower than the top brackets in CA/NY, but higher than the flat rates in states like IL (4.95%) or PA (3.07%).

4. FAQ

"Is $100k good here?"
It is a livable salary, but not "wealthy." In Hockessin, $100k allows for comfortable solo living and moderate savings, provided you budget strictly for housing. It does not stretch far enough for easy luxury or rapid wealth accumulation due to the cost of living in New Castle County.

"Local income tax?"
No. Hockessin CDP does not levy a local income tax. You owe Delaware State Tax and Federal Tax only.