Fort Mill 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.
IndexFort MillSouth CarolinaNational
Cost of living index10195100
IndexFort MillSouth CarolinaNational
Goods & Services index97101100
Groceries index100109100
Health care index101100100
Housing index10380100
Transportation index10093100
Utilities index110104100
Displayed above is a general overview of the Fort Mill, SC cost of living index. The overall cost of living index in Fort Mill, SC is 101, which is 6% higher than the South Carolina average and 1% higher than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Fort Mill, SC are 3% lower than the South Carolina average and 3% lower than the national average.

Did you know?

  • The cost of living in Fort Mill is 6% higher than the South Carolina average.
  • The cost of living in Fort Mill is 1% higher than the national average.
  • The cost of housing in Fort Mill is 3% higher 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 Fort Mill, SC Cost of living To Other Cities

Salary Calculator

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Using the salary calculator lets you compare the salary you earn in Fort Mill, SC to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Fort Mill, SC, you have to earn a higher income in order to still have the same standard of living. To operate the Fort Mill, SC salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$85,451$7,121$1,994$2,564
Renters$31,250$2,604$729$938
If you want to find a good determining factor for the cost of living and the general affordability of housing in Fort Mill, SC, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Fort Mill, SC, the median monthly income is $85,451 for those who own their own homes. Under the standard rule, that income level would allow for $1,994 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $31,250, per the median income in the area. That would allow for renters to spend up to $729 on monthly rental expenses.

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%
One thing to keep in mind when considering the cost of living in Fort Mill, SC is the South Carolina sales tax and South Carolina income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The South Carolina sales tax rate is 6% and the maximum surtax that can be charged is 9%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The South Carolina income tax rates range from 0% to 7%.

Goods & Services

ItemFort MillNational avg.Difference
Haircut $12.40$14.5915.0%
Beauty Salon $36.40$34.685.0%
Toothpaste $2.52$2.471.9%
Shampoo $1.08$1.025.7%
Movie $10.39$9.875.3%
Bowling $5.97$4.3935.9%

Groceries

ItemFort MillNational avg.Difference
Ground Beef $4.51$4.480.7%
Fried Chicken $1.59$1.468.6%
Milk $2.59$2.369.9%
Potatoes $3.37$3.0610.1%
Pizza $8.49$9.248.1%
Beer $8.34$8.633.4%

Health Care

ItemFort MillNational avg.Difference
Optometrist $119.20$99.7819.5%
Doctor $95.20$105.039.4%
Dentist $91.20$88.702.8%
Ibuprofen $9.12$9.413.1%
Lipitor $322.28$298.508.0%

Housing

ItemFort MillNational avg.Difference
Home Price $190,200.00$175,700.008.3%
Avg. Mortgage Payment $879.18$1,081.0318.7%
Apartment Rent $837.00$920.009.0%

Transportation

ItemFort MillNational avg.Difference
Gasoline $2.19$2.094.9%
Tire Balancing $39.18$45.2913.5%

Utilities

ItemFort MillNational avg.Difference
All Electricity$170.61$170.800.1%
Phone $35.01$28.2623.9%
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.
Riverview, SC23288-12%
Rock Hill, SC68,18594-6%
Catawba, SC1,43894-6%
Pineville, NC7,85595-5%
Lesslie, SC2,40896-4%
Fort Mill, SC12,0681011%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Cornelius, OR12,06811010%
Brown Deer, WI12,06797-3%
Bogalusa, LA12,07182-18%
Cloquet, MN12,06495-5%
Leeds, AL12,06391-9%
Fort Mill, SC12,0681011%
Source: The Fort Mill, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.