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 index9094100
IndexGeorgetownSouth CarolinaNational
Goods & Services index98102100
Groceries index101102100
Health care index9695100
Housing index6580100
Transportation index8790100
Utilities index121107100
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 90, which is 5% lower than the South Carolina average and 10% 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 4% lower than the average for South Carolina and 2% lower than the rest of the country.
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Did you know?

  • The cost of living in Georgetown is 5% lower than the South Carolina average.
  • The cost of living in Georgetown is 10% lower than the national average.
  • The cost of housing in Georgetown is 35% 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.

Compare Georgetown, SC Cost of living To Other Cities

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      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
      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$41,662$3,472$972$1,250
      Renters$16,819$1,402$392$505
      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 $41,662. This indicates that a monthly maximum of $972 should be spent by homeowners on all housing related costs. Renters have a median income of $16,819. This indicates that renters should have a maximum of $392 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 $17.00$17.492.8%
      Beauty Salon $50.00$38.1731.0%
      Toothpaste $2.32$2.320.0%
      Shampoo $0.95$1.016.1%
      Movie $9.44$10.7212.0%
      Bowling $15.00$13.868.2%

      Groceries

      ItemGeorgetownNational avg.Difference
      Ground Beef $4.18$3.907.2%
      Fried Chicken $1.32$1.405.4%
      Milk $1.94$1.961.1%
      Potatoes $3.75$3.1817.8%
      Pizza $8.99$10.3913.5%
      Beer $10.59$9.2314.7%

      Health Care

      ItemGeorgetownNational avg.Difference
      Optometrist $85.00$106.3420.1%
      Doctor $123.33$115.257.0%
      Dentist $97.60$98.380.8%
      Ibuprofen $10.59$9.2614.3%
      Lipitor $339.67$466.4727.2%

      Housing

      ItemGeorgetownNational avg.Difference
      Home Price $120,600.00$184,700.0034.7%
      Avg. Mortgage Payment $1,038.38$1,273.3218.5%
      Apartment Rent $617.00$949.0035.0%

      Transportation

      ItemGeorgetownNational avg.Difference
      Gasoline $2.35$2.599.4%
      Tire Balancing $41.16$48.9015.8%

      Utilities

      ItemGeorgetownNational avg.Difference
      All Electricity$229.77$167.6037.1%
      Phone $184.06$163.4212.6%
      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, SC9,1611055%
      Pawleys Island, SC6716868%
      Georgetown, SC9,07190-10%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Hondo, TX9,07185-15%
      Beverly Hills, FL9,07386-14%
      Smithville, MO9,06999-1%
      Berkeley, MO9,06883-17%
      Newark, NY9,06888-12%
      Georgetown, SC9,07190-10%
      Source: The Georgetown, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2019.