I have received inquiries about ways to reduce summer cooling costs. This was from a retiree living in a single-family home in Newark, who was worried that their summer electricity bills were coming in much higher than expected. As we talked, it became clear that this was not just about cooling costs, but a larger concern about whether to continue maintaining their current home.

People approaching retirement often face two main choices: to keep their current single-family home or to move to a condo, townhome, or an active senior community for those aged 55 and older, which requires less maintenance. In simpler terms, it's a question of whether to maintain a larger space with more freedom or to reduce maintenance responsibilities by paying monthly fees.

Let's look at electricity rates in the Newark area. According to Delmarva Power, the rate was about 18.79 cents per kilowatt-hour in April 2026, and it was adjusted to around 15 cents in June. Due to recent rate increases, a household using 811 kilowatt-hours per month is expected to see an additional charge of about $14.64. Gas rates have also increased, with average households paying about $22 more per month due to rising pipeline and supply costs.

If the terminology is unfamiliar, think of it this way: HOA fees are what condo or townhome residents pay monthly, which cover maintenance tasks like exterior painting, roof repairs, and snow removal, managed by the office. In a single-family home, these tasks must be done by the homeowner or contracted out at their own expense.

It's also important to consider the price differences in housing. Condos in Newark are priced around $163,000, while single-family homes are about $535,000. This is more than a threefold difference, so many people use the funds from downsizing for retirement living expenses or medical cost reserves. However, specific statistics on condo HOA fees in Newark are not available, so it's wise to check the management fees for individual listings before making a contract. Newark is a small city with the University of Delaware, so there are not as many options for active senior communities compared to larger cities like Philadelphia or Baltimore, but if you expand to nearby counties, you can find places with landscaping and indoor pools.

• Single-family home - spacious but responsible for all heating/cooling and repair costs
• Condo/townhome - lower purchase price and maintenance covered by fees, but incurs fixed monthly costs
• Active senior community - well-managed with amenities, but additional community fees apply

Let's also touch on property taxes. The residential property tax rate in the unincorporated areas of New Castle County is $0.1575 per $100 of assessed value. If you are over 65, you can apply for the Senior School Property Tax Credit, which allows for a reduction of up to $500 on school taxes. However, if you moved to Delaware after 2018, you must reside for at least 10 years to qualify, so those coming from out of state should check this requirement. The application deadline is April 30 each year. Some people moving to Newark choose to keep their single-family homes simply because the property tax rate is lower than in their previous state, but when factoring in winter heating costs and repairs for older homes, the actual results can differ from initial expectations.

In summary, while Newark's property taxes are not overly burdensome, rising electricity and gas rates mean that heating and cooling costs will need to be monitored. If you want to reduce maintenance responsibilities, consider a condo or active senior community; if you prioritize space and independence, maintaining a single-family home may be worth considering.

The rates and tax information in this article are based on the time of publication and may vary according to county or utility company policies. Please consult a professional before making any applications or contracts. This is not investment or legal advice.