Hilton Head Island, SC is considered one of the best vacation destinations in the United States. In fact, many tourists have had such a wonderful time here that they have decided to turn their vacation experience into everyday life.
The lovely year-round weather, excellent restaurants, and convenient access to several beaches are just some of the many reasons why people choose to live in Hilton Head. If you’re also considering moving to this beautiful town, this article is for you.
One of the factors one must take into account when relocating is cost of living. Simply put, cost of living is the amount of money necessary to cover an individual’s basic expenses in a particular location and time period. These basic expenses are housing, food, transportation, healthcare, and miscellaneous costs.
The cost of living of a specific location, such as Hilton Head Island cost of living, is often used to compare the affordability of living in this town compared to a person’s current place of residence. This can help you determine if your plans of moving here would be beneficial for you and your family given your projected income.
Cost of Living Index in Hilton Head Island, SC
A cost-of-living index is particularly helpful if you are considering moving to Hilton Head Island and you want to know if you would be able to afford to live in this town. This index is based on a national average of 100, which is a constant figure across all basic expenses.
So, for example, if the COL index of housing in a given area is 130, then it is 30% higher than the national average. Below is a table showing the cost of living in Hilton Head, SC to give you an idea how expensive or affordable this location is relative to the rest of the country.
|Cost of Living||Hilton Head Island||South Carolina||United States|
Based on the table above, you’ll see that the overall cost of living in Hilton Head South, Carolina is 20.3% higher than the national average, with housing as the highest expense, which is 80.3% higher than the national average.
Groceries and health care are also higher than the national average, but only by a small percentage. Other expenses like utilities, transportation, and miscellaneous expenses are all lower than the national average.
The Average Cost of Living in Hilton Head Island, SC
The average cost of living in Hilton Head, SC for 1 person is $1,650, including rent. For a family of 4, the average cost of living with rent is $3,821.
To give you a better idea of the affordability of the basic expenses in this town, we have listed the average cost of food and grocery items below:
Average Cost of Meals in Restaurants
|Average Cost of Meals in Hilton Head Island, SC||Average Cost|
|Lunch at an Inexpensive Restaurant||$12.1|
|Dinner at a Restaurant||$64.9|
|Combo Meal at a Fast-Food Restaurant||$7.06|
|Domestic Beer (0.5-liter draught)||$3.92|
|Coke/Pepsi (0.33-liter bottle)||$1.5|
Average Cost of Grocery Items
|Average Cost of Grocery Items in Hilton Head Island, SC||Average Cost|
|Milk (1 liter)||$0.95|
|Loaf of Fresh White Bread (500g)||$4.92|
|Eggs (regular, 12)||$3.06|
|Rice (white, 1kg)||$4.77|
|Local Cheese (1kg)||$10.1|
|Beef Round Back Leg Red Meat (1kg)||$12.4|
|Water (1.5-liter bottle)||$1|
|Bottle of Wine (Mid-Range)||$8.43|
|Monthly Rent in Hilton Head Island, SC||Average Cost|
|1-bedroom Apartment in City Center||$1,260|
|Cheap 1-bedroom Apartment||$724|
|3-bedroom Apartment in City Center||$1,554|
|Cheap 3-bedroom Apartment||$1,501|
As of October 2022, the typical listing home price of properties in Hilton Head Island is $700K, with a median listing price per square foot of $434. The median sold home price is $662K.
There are 21 neighborhoods in Hilton Head Island, SC. Among these, the most expensive is Wexford Plantation, which has a median listing home price of $2.5M. The most affordable neighborhood is Old House Creek, with a median listing home price of $145K.
For those who are renting, the average rent in Hilton Head, SC for a 1-bedroom apartment is $1,260, while the typical monthly rent for a cheaper apartment of the same size is $724. For a larger 3-bedroom apartment, the average rent is $1,554. The usual rent for a cheaper unit of the same size is $1,501.
Cost of Utilities
The cost of Utilities in Hilton Head Island is about the same as the rest of the nation, with a cost-of-living index of 99.1. Below are the average costs of utilities for an individual and a family.
|Utilities in Hilton Head Island, SC||Average Cost|
|Utility Bill for 1 person (electricity, heating, water, etc.)||$99.2|
|Utility Bill for a Family (electricity, heating, water, etc.)||$152|
|Internet plan for 1 month (50 Mbps+, unlimited)||$71.9|
Transportation expenses in Hilton Head Island are relatively more affordable than the rest of the country. The cost-of-living index for transportation in this town is 67.4, meaning this basic expense is 32.6% lower than the national average.
|Transportation in Hilton Head Island, SC||Average Cost|
|Local Transport Ticket||$2.18|
|Monthly Ticket Local Transport||$56.6|
|Taxi Ride (8 km / 5 miles)||$17.8|
|Gas / Petroleum (1 liter / 0.26 gallon)||$0.79|
Hilton Head Island, SC and Taxes
When researching about the cost of living in Hilton Head, it is important to also check the taxes in the region. Good news – South Carolina’s property taxes are among the lowest in the country.
The average effective property tax rate in the state is just 0.55%. Given this, homeowners can expect to pay $550 for every $100,000 in home value. Most South Carolina homeowners pay less than $1,000 in property taxes annually. For seniors, taxes may be even lower because of the Homestead Exemption, which significantly reduces property taxes.
Now that you know the cost of living on Hilton Head Island, you will be able to assess whether moving to this town would be financially viable for you. If you’d like to explore the homes for sale in the area, I would be more than happy to show you your options. Call me today at (843) 304-0152 so we can discuss your budget and preferences.
Frequently Asked Questions
What is the cost of living in Hilton Head Island, SC, compared to other places in the US?
One of the common questions we get from potential buyers is, “Is it expensive to live in Hilton Head?” Given Hilton Head Island’s overall cost-of-living index of 120.3, so it is slightly higher than the national average.
What is the average salary in Hilton Head Island, SC? How does this compare to other places in the US?
Hilton Head Island average income is $92,227, with salaries ranging from $79,965 to $105,173. This is a bit lower than the national average income of $97,962.
I'm thinking about moving to Hilton Head Island, SC. Can you tell me more about the quality of life there?
Perched between the Atlantic Ocean and the Intracoastal Waterway, Hilton Head Island offers residents gentle sea breezes, gorgeous scenery, and a relaxing way of life. There’s an abundance of amenities, including championship golf courses, fine restaurants, luxurious resorts, and private villas.