Forest Acres cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexForest AcresSouth CarolinaNational
Cost of living index10397100
IndexForest AcresSouth CarolinaNational
Goods & Services index111105100
Groceries index98105100
Health care index93101100
Housing index9980100
Transportation index9896100
Utilities index106107100
An overview of the general cost of living index for Forest Acres, SC is displayed above for your reference. Residents in Forest Acres, SC enjoy a cost of living index of 103. This index is 7% higher than the South Carolina average, and 3% higher than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Forest Acres, SC, the average cost of goods and services is 5% higher than it is in South Carolina, and it is 11% higher than the national average.

Did you know?

  • The cost of living in Forest Acres is 7% higher than the South Carolina average.
  • The cost of living in Forest Acres is 3% higher than the national average.
  • The cost of housing in Forest Acres is 1% lower than the national average.
  • South Carolina general sales tax is 18% higher than the national average.
  • South Carolina state income tax is 100% lower than the national average.

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Compare Forest Acres, SC Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
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Groceries index
Health care index
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The salary calculator allows you to compare how much your current salary in Forest Acres, SC would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Forest Acres, SC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Forest Acres, SC salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$71,534$5,961$1,669$2,146
Renters$33,339$2,778$778$1,000
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Forest Acres, SC, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Forest Acres, SC homeowners have a median income of $71,534. Using that number, you will come up with a maximum of $1,669 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $33,339, which means there is a maximum of $778 to be spent on the costs of renting a home or apartment.

South Carolina Sales Tax

StateGeneral Sales TaxWith Max Surtax
South Carolina6%9%

South Carolina Income Tax

StateIncome Tax (Low)Income Tax (High)
South Carolina0%7%
For those who live in Forest Acres, SC and want to know what the true cost of living is, they ought to look at both the South Carolina income tax rate and the South Carolina sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In South Carolina, the sales tax is 6%, while the most you'll pay in surtax is 9%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in South Carolina, the income tax rate ranges between 0% to 7%.

Goods & Services

ItemForest AcresNational avg.Difference
Haircut $15.85$15.561.8%
Beauty Salon $50.53$36.1139.9%
Toothpaste $2.77$2.4712.2%
Shampoo $0.92$0.965.1%
Movie $11.42$10.1312.8%
Bowling $4.58$4.743.3%

Groceries

ItemForest AcresNational avg.Difference
Ground Beef $4.14$3.983.8%
Fried Chicken $1.14$1.4119.1%
Milk $1.75$2.0615.3%
Potatoes $3.21$2.987.6%
Pizza $11.81$9.4724.7%
Beer $8.96$8.791.9%

Health Care

ItemForest AcresNational avg.Difference
Optometrist $103.96$101.042.9%
Doctor $87.34$107.4418.7%
Dentist $95.77$90.425.9%
Ibuprofen $9.30$9.280.2%
Lipitor $333.71$426.5021.8%

Housing

ItemForest AcresNational avg.Difference
Home Price $179,000.00$175,700.001.9%
Avg. Mortgage Payment $784.40$1,133.2330.8%
Apartment Rent $852.00$920.007.4%

Transportation

ItemForest AcresNational avg.Difference
Gasoline $1.82$1.998.8%
Tire Balancing $51.88$45.7613.4%

Utilities

ItemForest AcresNational avg.Difference
All Electricity$196.42$163.8119.9%
Phone $24.95$28.3912.1%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Gadsden, SC1,69687-13%
Springdale, SC2,21689-11%
Hopkins, SC3,25789-11%
Gaston, SC1,57191-9%
St. Andrews, SC21,29893-7%
Forest Acres, SC10,5331033%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Canandaigua, NY10,53299-1%
Wabash, IN10,53481-19%
Burlington, WI10,528100-0%
Gulf Shores, AL10,5231055%
Big Rapids, MI10,54381-19%
Forest Acres, SC10,5331033%
Source: The Forest Acres, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.