A-
5%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
18%
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 Oak Grove South Carolina National
Cost of living9593100
Goods & Services98100100
Groceries9999100
Health care8694100
Housing8280100
Transportation8291100
Utilities131107100

An Overview of Cost of Living in Oak Grove, SC

Understanding the cost of living in Oak Grove can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Oak Grove cost of living index is 95, which is 5% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

Everyday expenditures like food, housing, goods and services, transportation and health care in Oak Grove are priced in a manner consistent with other areas. This means that residents of Oak Grove can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

Is Oak Grove Affordable?

Is Oak Grove affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Oak Grove, the median home price is 27.4% lower than the national average and monthly rent prices are 5.7% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Oak Grove boasting a median household income of $58,349, 5.5% higher than the national average.

What Factors can Influence the Cost of Living in Oak Grove?

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Oak Grove, the healthcare costs are 14.1% lower than the national average.

Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Oak Grove, the general sales tax rate starts at 6%, and income tax rates begin at 0%.

Transportation: When public transportation options are limited or non-existent, residents frequently resort to vehicle ownership, which can significantly contribute to the overall cost of living. Monthly financial obligations encompass fuel, insurance, regular maintenance and potentially lease or financing expenses. In Oak Grove, the transportation index is 18.5% lower than the national average.

Where is the Data From?

The cost of living in Oak Grove, 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 Oak Grove is 1% higher than the South Carolina average
  • The cost of living in Oak Grove is 5% lower than the national average
  • Oak Grove housing is 18% lower 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 Oak Grove

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Compare Oak Grove, 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$63,070$5,256$1,472$1,892
      Renters$35,364$2,947$825$1,061
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Oak Grove, SC, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Oak Grove homeowners, is $63,070. This would allow for a maximum of $1,472 per month to be spent on housing costs. For renters, the median monthly income is $35,364 which would result in a maximum of $825 to be spent on rental 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 Oak Grove National avg. Difference
      Haircut $20.75$24.2614.5%
      Beauty Salon $30.56$45.5632.9%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.33$1.283.6%
      Movie $12.93$12.136.6%
      Bowling $24.33$18.0035.2%

      Groceries

      Item Oak Grove National avg. Difference
      Ground Beef $6.15$5.845.3%
      Fried Chicken $1.67$1.576.2%
      Milk $4.61$4.671.3%
      Potatoes $5.50$4.9311.5%
      Pizza $10.35$12.0914.4%
      Beer $10.53$10.411.1%

      Health Care

      Item Oak Grove National avg. Difference
      Optometrist $59.00$125.6853.1%
      Doctor $150.00$135.7810.5%
      Dentist $78.33$113.2930.9%
      Ibuprofen $10.46$10.651.8%
      Lipitor $416.30$468.6011.2%

      Housing

      Item Oak Grove National avg. Difference
      Home Price $134,000.00$184,700.0027.4%
      Avg. Mortgage Payment $1,725.28$2,346.6926.5%
      Apartment Rent $1,003.00$949.005.7%

      Transportation

      Item Oak Grove National avg. Difference
      Gasoline $3.22$3.466.9%
      Tire Balancing $32.03$59.9246.5%

      Utilities

      Item Oak Grove National avg. Difference
      All Electricity $290.58$193.9949.8%
      Phone $192.75$192.250.3%
      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.
      Springdale CDP, SC2,3558317.3%
      Springdale, SC2,8788712.8%
      Gaston, SC2,0748911.0%
      St. Andrews, SC21,3559010.3%
      Pelion, SC1,076909.8%
      Oak Grove, SC12,040955.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Greatwood, TX12,04012221.7%
      Red Bank, NJ12,03914444.5%
      North Merrick, NY12,03716766.5%
      Neosho, MO12,0368416.2%
      Minden, LA12,0358812.1%
      Oak Grove, SC12,040955.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.