A-
3%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
13%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; 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 Wade Hampton South Carolina National
Cost of living10393100
Goods & Services102100100
Groceries9899100
Health care10094100
Housing11380100
Transportation9091100
Utilities92107100

An Overview of Cost of Living in Wade Hampton, SC

The cost of living in Wade Hampton affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Wade Hampton is 103, which is 3% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Wade Hampton, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Wade Hampton will resemble that of an average city, contributing to a manageable cost of living.

Is Wade Hampton Affordable?

Wondering if Wade Hampton is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Wade Hampton, for example, the median home price is 19.5% higher than what folks pay nationally, and monthly rent is 3% lower than the usual rates. Plus, income levels matter too, with Wade Hampton boasting a median household income of $58,071, which is 5% higher than the national average.

What Factors can Influence the Cost of Living in Wade Hampton?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Wade Hampton, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Wade Hampton, the groceries index is 1.7% lower than the national average.

Transportation: In areas where public transportation is scarce or unavailable, residents often find themselves compelled to own and upkeep vehicles, thereby increasing the overall cost of living. Monthly expenses encompass fuel, insurance, routine maintenance and potentially lease or financing payments. In Wade Hampton, the transportation index is 9.7% lower than the national average.

Where is the Data From?

The cost of living in Wade Hampton, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Wade Hampton is 10% higher than the South Carolina average
  • The cost of living in Wade Hampton is 3% higher than the national average
  • Wade Hampton housing is 13% 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

Most Affordable Places to Live in and Around Wade Hampton

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Compare Wade Hampton, SC Cost of Living

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      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

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$80,827$6,736$1,886$2,425
      Renters$41,052$3,421$958$1,232
      A good way to judge both the affordability of the housing and the cost of living in Wade Hampton is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Wade Hampton has a median income of about $80,827 for people who own homes. Based on that number, a maximum of $1,886 should be spent on expenses related to housing. Renters have a slightly different median income, which is $41,052. Based on this average, renters should spend no more than $958 on all rental costs if they want to maintain a non-impoverished standard of living.

      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 Wade Hampton National avg. Difference
      Haircut $25.74$24.266.1%
      Beauty Salon $51.07$45.5612.1%
      Toothpaste $3.61$3.702.4%
      Shampoo $1.37$1.287.2%
      Movie $14.47$12.1319.3%
      Bowling $18.39$18.002.2%

      Groceries

      Item Wade Hampton National avg. Difference
      Ground Beef $6.24$5.846.8%
      Fried Chicken $1.50$1.574.6%
      Milk $4.56$4.672.4%
      Potatoes $5.31$4.937.6%
      Pizza $11.78$12.092.5%
      Beer $10.45$10.410.4%

      Health Care

      Item Wade Hampton National avg. Difference
      Optometrist $120.21$125.684.4%
      Doctor $123.75$135.788.9%
      Dentist $114.80$113.291.3%
      Ibuprofen $10.43$10.652.1%
      Lipitor $534.74$468.6014.1%

      Housing

      Item Wade Hampton National avg. Difference
      Home Price $220,800.00$184,700.0019.5%
      Avg. Mortgage Payment $1,581.44$2,346.6932.6%
      Apartment Rent $921.00$949.003.0%

      Transportation

      Item Wade Hampton National avg. Difference
      Gasoline $3.07$3.4611.2%
      Tire Balancing $56.50$59.925.7%

      Utilities

      Item Wade Hampton National avg. Difference
      All Electricity $170.53$193.9912.1%
      Phone $189.75$192.251.3%
      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.
      Gramling, SC97963.7%
      Tigerville, SC2,023981.9%
      Startex, SC5568020.2%
      Slater-Marietta, SC2,0988316.6%
      Judson, SC1,4128514.8%
      Wade Hampton, SC20,1921032.5%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Plainview, TX20,1948217.8%
      Kirkland, QC20,189n/a 
      Nogales, AZ20,182946.3%
      Payson, UT20,1811098.9%
      Mountain Brook, AL20,17816059.6%
      Wade Hampton, SC20,1921032.5%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.