Honea Path 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.
IndexHonea PathSouth CarolinaNational
Cost of living index7995100
IndexHonea PathSouth CarolinaNational
Goods & Services index94101100
Groceries index103109100
Health care index95100100
Housing index4380100
Transportation index8193100
Utilities index95104100
Here we can see a simple outline of the cost of living in Honea Path, SC. As you can see, with the average cost of living in Honea Path, SC being 79, that puts it 17% lower than the average of South Carolina and 21% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Honea Path, SC, the price of goods and services are 7% lower than the average of South Carolina as well as 6% lower than the nation's average.

Did you know?

  • The cost of living in Honea Path is 17% lower than the South Carolina average.
  • The cost of living in Honea Path is 21% lower than the national average.
  • The cost of housing in Honea Path is 57% 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.

Find Real Estate Listings In Honea Path

Location
Price
Bedrooms
Bathrooms
 

New Real Estate Listings In Honea Path

Compare Honea Path, SC Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in
Price difference in compared to
Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
Use the salary calculator to compare your current salary in Honea Path, SC to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Honea Path, SC, then you would need to earn more income in order to maintain the same standard of living. To use the Honea Path, SC salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$31,782$2,649$742$954
Renters$12,276$1,023$286$368
The affordability of the housing market in Honea Path, 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 Honea Path, SC homeowners, the median income is $31,782. This indicates that a monthly maximum of $742 should be spent by homeowners on all housing related costs. Renters have a median income of $12,276. This indicates that renters should have a maximum of $286 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%
The South Carolina sales tax and South Carolina income tax rates should definitely be considered when determining the overall cost of living in Honea Path, SC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The South Carolina sales tax is 6% and the maximum surtax is 9%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The South Carolina income tax rates range from 0% to 7%.

Goods & Services

ItemHonea PathNational avg.Difference
Haircut $12.75$14.5912.6%
Beauty Salon $40.00$34.6815.3%
Toothpaste $3.52$2.4742.3%
Shampoo $1.09$1.026.7%
Movie $9.13$9.877.5%
Bowling $3.50$4.3920.3%

Groceries

ItemHonea PathNational avg.Difference
Ground Beef $4.79$4.487.0%
Fried Chicken $1.55$1.465.9%
Milk $2.60$2.3610.3%
Potatoes $2.82$3.067.9%
Pizza $10.00$9.248.2%
Beer $8.32$8.633.6%

Health Care

ItemHonea PathNational avg.Difference
Optometrist $100.00$99.780.2%
Doctor $96.33$105.038.3%
Dentist $82.00$88.707.6%
Ibuprofen $10.65$9.4113.2%
Lipitor $277.99$298.506.9%

Housing

ItemHonea PathNational avg.Difference
Home Price $79,500.00$175,700.0054.8%
Avg. Mortgage Payment $732.54$1,081.0332.2%
Apartment Rent $347.00$920.0062.3%

Transportation

ItemHonea PathNational avg.Difference
Gasoline $1.70$2.0918.8%
Tire Balancing $37.00$45.2918.3%

Utilities

ItemHonea PathNational avg.Difference
All Electricity$144.62$170.8015.3%
Phone $30.95$28.269.5%
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.
Princeton, SC6075-25%
Cokesbury, SC13878-22%
West Pelzer, SC84480-20%
Ware Shoals, SC2,09281-19%
Homeland Park, SC6,57481-19%
Honea Path, SC3,61079-21%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Eagle Lake, TX3,61181-19%
Holiday City South, NJ3,6091066%
Elizabethtown, NC3,61186-14%
Romeo, MI3,60891-9%
Rockwell, AR3,61397-3%
Honea Path, SC3,61079-21%
Source: The Honea Path, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.