Cost of Living in Murrells Inlet, SC

C
11%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
37%
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 Murrells Inlet South Carolina National
Cost of living11193100
Goods & Services97100100
Groceries10299100
Health care8994100
Housing13780100
Transportation8891100
Utilities121107100
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Cost Of Living Quick Facts

  • The cost of living in Murrells Inlet is 19% higher than the South Carolina average
  • The cost of living in Murrells Inlet is 11% higher than the national average
  • Murrells Inlet housing is 37% 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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Compare Murrells Inlet, SC Cost of Living

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      Salary Calculator

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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$62,756$5,230$1,464$1,883
      Renters$42,778$3,565$998$1,283
      The affordability of the housing market in Murrells Inlet, 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 Murrells Inlet homeowners, the median income is $62,756. This indicates that a monthly maximum of $1,464 should be spent by homeowners on all housing related costs. Renters have a median income of $42,778. This indicates that renters would have a maximum of $998 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% 6.5%

      Goods & Services

      Item Murrells Inlet National avg. Difference
      Haircut $26.38$24.268.7%
      Beauty Salon $56.15$45.5623.2%
      Toothpaste $3.77$3.701.8%
      Shampoo $1.38$1.287.5%
      Movie $11.30$12.136.8%
      Bowling $19.43$18.008.0%

      Groceries

      Item Murrells Inlet National avg. Difference
      Ground Beef $6.22$5.846.5%
      Fried Chicken $1.67$1.576.2%
      Milk $4.59$4.671.8%
      Potatoes $5.51$4.9311.6%
      Pizza $10.83$12.0910.4%
      Beer $10.61$10.411.9%

      Health Care

      Item Murrells Inlet National avg. Difference
      Optometrist $78.10$125.6837.9%
      Doctor $137.50$135.781.3%
      Dentist $97.17$113.2914.2%
      Ibuprofen $10.75$10.650.9%
      Lipitor $373.44$468.6020.3%

      Housing

      Item Murrells Inlet National avg. Difference
      Home Price $267,100.00$184,700.0044.6%
      Avg. Mortgage Payment $2,134.33$2,346.699.0%
      Apartment Rent $1,129.00$949.0019.0%

      Transportation

      Item Murrells Inlet National avg. Difference
      Gasoline $3.18$3.468.0%
      Tire Balancing $46.64$59.9222.2%

      Utilities

      Item Murrells Inlet National avg. Difference
      All Electricity $258.50$193.9933.3%
      Phone $194.25$192.251.0%
      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.
      Bucksport, SC6078415.5%
      Georgetown, SC8,884954.9%
      Garden City, SC11,193982.5%
      Socastee, SC25,846981.6%
      Forestbrook, SC7,6131044.2%
      Murrells Inlet, SC9,29211110.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Harahan, LA9,2931066.2%
      Girard, OH9,2938317.4%
      Cowichan Valley B, BC9,293n/a 
      Steger, IL9,289928.1%
      Corman Park No. 344, SK9,288n/a 
      Murrells Inlet, SC9,29211110.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
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