Hilton Head Island, South Carolina Cost Of Living

F

29%

Overall NAT. AVG.

2%

Goods & Services NAT. AVG.

105%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Hilton Head Island	South Carolina	National
Cost of living	129	95	100
Goods & Services	98	100	100
Groceries	94	100	100
Health care	111	96	100
Housing	205	80	100
Transportation	96	97	100
Utilities	93	109	100

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Cost Of Living Quick Facts

The cost of living in Hilton Head Island is 37% higher than the South Carolina average
The cost of living in Hilton Head Island is 29% higher than the national average
Hilton Head Island housing is 105% 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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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$85,346	$7,112	$1,991	$2,561
Renters	$46,207	$3,851	$1,078	$1,386

The affordability of the housing market in Hilton Head Island, SC as well as the overall cost of living can be predicted 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 be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Hilton Head Island homeowners, the median income is $85,346. This indicates that a monthly maximum of $1,991 should be spent by homeowners on all housing related costs. Renters have a median income of $46,207. This indicates that renters would have a maximum of $1,078 for their rent related monthly costs.

South Carolina Sales Tax

State	General Sales Tax	With Max Surtax
South Carolina	6%	9%

South Carolina Income Tax

State	Income Tax (Low)	Income Tax (High)
South Carolina	0%	7%

Goods & Services

Item	Hilton Head Island	National avg.	Difference
Haircut	$19.88	$20.27	2.0%
Beauty Salon	$37.36	$40.39	7.5%
Toothpaste	$1.80	$2.36	23.6%
Shampoo	$0.97	$1.08	9.6%
Movie	$9.30	$10.99	15.4%
Bowling	$18.03	$15.49	16.4%

Groceries

Item	Hilton Head Island	National avg.	Difference
Ground Beef	$4.46	$4.30	3.9%
Fried Chicken	$1.27	$1.40	9.0%
Milk	$1.94	$2.20	12.1%
Potatoes	$3.96	$3.22	23.1%
Pizza	$11.63	$10.74	8.3%
Beer	$9.98	$9.60	3.9%

Health Care

Item	Hilton Head Island	National avg.	Difference
Optometrist	$91.76	$109.73	16.4%
Doctor	$110.78	$118.34	6.4%
Dentist	$142.03	$100.94	40.7%
Ibuprofen	$8.94	$9.93	10.0%
Lipitor	$497.37	$469.53	5.9%

Housing

Item	Hilton Head Island	National avg.	Difference
Home Price	$446,700.00	$184,700.00	141.9%
Avg. Mortgage Payment	$731.05	$1,229.62	40.5%
Apartment Rent	$1,114.00	$949.00	17.4%

Transportation

Item	Hilton Head Island	National avg.	Difference
Gasoline	$2.59	$2.71	4.5%
Tire Balancing	$50.40	$51.86	2.8%

Utilities

Item	Hilton Head Island	National avg.	Difference
All Electricity	$151.42	$170.84	11.4%
Phone	$185.61	$187.18	0.8%

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	Population	Cost of Living Index	National Avg.
Shell Point, SC	2,343	94	6.0%
Port Royal, SC	11,891	101	1.5%
Wilmington Island, GA	15,005	105	4.7%
Bluffton, SC	15,765	106	6.0%
Talahi Island, GA	1,454	119	19.0%
Hilton Head Island, SC	39,651	129	29.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Bullhead City, AZ	39,653	82	17.8%
Shakopee, MN	39,656	110	10.1%
Maplewood, MN	39,678	105	4.9%
Woodlawn, MD	39,685	107	6.7%
Duncanville, TX	39,599	95	4.6%
Hilton Head Island, SC	39,651	129	29.2%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.