Red Bank 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.
IndexRed BankSouth CarolinaNational
Cost of living index9697100
IndexRed BankSouth CarolinaNational
Goods & Services index111105100
Groceries index98105100
Health care index93101100
Housing index7680100
Transportation index9896100
Utilities index106107100
A general overview of the cost of living index for Red Bank, SC is displayed above. In Red Bank, SC, the overall cost of living index is 96, which is 1% lower than the South Carolina average and 4% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Red Bank, SC, the city's goods and services are 5% higher than the South Carolina average and 11% higher than the U.S. average.

Did you know?

  • The cost of living in Red Bank is 1% lower than the South Carolina average.
  • The cost of living in Red Bank is 4% lower than the national average.
  • The cost of housing in Red Bank is 24% 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 Red Bank, 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
The salary calculator is meant to help you compare your salary in Red Bank, SC to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Red Bank, SC, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Red Bank, SC salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$53,111$4,426$1,239$1,593
Renters$28,229$2,352$659$847
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Red Bank, 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 Red Bank, SC homeowners have a median income of $53,111. Using that number, you will come up with a maximum of $1,239 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $28,229, which means there is a maximum of $659 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 Red Bank, 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

ItemRed BankNational 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

ItemRed BankNational 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

ItemRed BankNational 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

ItemRed BankNational avg.Difference
Home Price $115,500.00$175,700.0034.3%
Avg. Mortgage Payment $784.40$1,133.2330.8%
Apartment Rent $908.00$920.001.3%

Transportation

ItemRed BankNational avg.Difference
Gasoline $1.82$1.998.8%
Tire Balancing $51.88$45.7613.4%

Utilities

ItemRed BankNational 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.
Springdale, SC2,21689-11%
Gaston, SC1,57191-9%
Swansea, SC70891-9%
St. Andrews, SC21,29893-7%
South Congaree, SC2,47595-5%
Red Bank, SC9,12896-4%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
St. Rose, LA9,12593-7%
Scotchtown, NY9,13211919%
Economy, PA9,13394-6%
Berkeley, MO9,12086-14%
Laurens, SC9,13685-15%
Red Bank, SC9,12896-4%
Source: The Red Bank, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.