Cost of Living in Hilton head island, SC

Housing

The housing market plays a significant role in determining the cost of living in Hilton head island, SC.

• Housing Index: 125.0 / 100
• Median Home Price is: $590000
• Average Rent (2 BR Apartment): $2400 per month
• Average Rent (2 BR House): $2500 per month

Considering your potential move to Hilton head island, SC, the data indicates a housing index of 125.0, reflecting a higher-than-average cost of living. The median home price registers at 590000, which is quite significant and suggests that homeownership may require a substantial financial investment. Conversely, the average rent for a 2-bedroom apartment stands at 2400, while a 2-bedroom house averages 2500. It's advisable to assess both renting and buying options carefully, keeping in mind the expenses beyond housing, such as utilities and local amenities, which could impact your overall budget.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Hilton head island, SC.

• Electricity Price: 14.18 USD (median by state)
• Natural Gas Price: $23.51 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $250 per month

Living in Hilton head island, SC could entail higher utility costs. Electricity costs sit at 14.18, while natural gas is priced at 23.51 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 115.5

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $93694

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Hilton head island, SC, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.