Georgetown 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.
IndexGeorgetownSouth CarolinaNational
Cost of living index9295100
IndexGeorgetownSouth CarolinaNational
Goods & Services index98101100
Groceries index104109100
Health care index97100100
Housing index7180100
Transportation index9993100
Utilities index115104100
The above illustration supplies generalized information for the Georgetown, SC cost of living index. Compared to other cities in South Carolina and cities across the country, the cost of living index in Georgetown, SC is 92, which is 3% lower than the South Carolina average and 8% lower than that for the entire country. The index is comprised of the following criteria: cost of retail goods and services (33%), groceries (13%), health care (5%), housing (30%), cost of public/private transportation (9%) and utilities (10%). Everyday goods and services, along with housing account for 63 percent of the total cost of living index. Goods and services that are a necessity regardless of location provide an accurate general sense of the cost of living in one city versus another. As seen above, the cost of retail goods and services in Georgetown, SC are 3% lower than the average for South Carolina and 2% lower than the rest of the country.

Did you know?

  • The cost of living in Georgetown is 3% lower than the South Carolina average.
  • The cost of living in Georgetown is 8% lower than the national average.
  • The cost of housing in Georgetown is 29% 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 Georgetown, 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 Georgetown, 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 Georgetown, SC, you have to earn a higher income in order to still have the same standard of living. To operate the Georgetown, 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$39,542$3,295$923$1,186
Renters$18,828$1,569$439$565
The affordability of the housing market in Georgetown, SC as well as the overall cost of living can be indicated accurately by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should ever be used on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Georgetown, SC homeowners, the median income is $39,542. This indicates that a monthly maximum of $923 should be spent by homeowners on all housing related costs. Renters have a median income of $18,828. This indicates that renters should have a maximum of $439 used for their rent related monthly costs.

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 Georgetown, 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

ItemGeorgetownNational avg.Difference
Haircut $13.60$14.596.8%
Beauty Salon $40.20$34.6815.9%
Toothpaste $2.52$2.471.9%
Shampoo $1.07$1.024.7%
Movie $8.50$9.8713.9%
Bowling $3.36$4.3923.5%

Groceries

ItemGeorgetownNational avg.Difference
Ground Beef $4.19$4.486.4%
Fried Chicken $1.45$1.461.0%
Milk $2.79$2.3618.4%
Potatoes $3.19$3.064.2%
Pizza $9.25$9.240.1%
Beer $8.43$8.632.3%

Health Care

ItemGeorgetownNational avg.Difference
Optometrist $93.20$99.786.6%
Doctor $102.00$105.032.9%
Dentist $81.20$88.708.5%
Ibuprofen $9.64$9.412.4%
Lipitor $316.28$298.506.0%

Housing

ItemGeorgetownNational avg.Difference
Home Price $121,100.00$175,700.0031.1%
Avg. Mortgage Payment $740.74$1,081.0331.5%
Apartment Rent $704.00$920.0023.5%

Transportation

ItemGeorgetownNational avg.Difference
Gasoline $2.06$2.091.7%
Tire Balancing $46.39$45.292.4%

Utilities

ItemGeorgetownNational avg.Difference
All Electricity$224.88$170.8031.7%
Phone $26.14$28.267.5%
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.
Murrells Inlet, SC8,0271099%
Pawleys Island, SC84231131%
Georgetown, SC9,11092-8%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Hernando, FL9,10987-13%
Rock Falls, IL9,11183-17%
Anna, TX9,10890-10%
Midway City, CA9,10413535%
Oakville, CT9,11811717%
Georgetown, SC9,11092-8%
Source: The Georgetown, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.