Cost Of Living in Red Bank, SC

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	Red Bank	South Carolina	National
Cost of living	93	93	100
Goods & Services	98	100	100
Groceries	99	99	100
Health care	86	94	100
Housing	76	80	100
Transportation	82	91	100
Utilities	131	107	100

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Cost Of Living Quick Facts

The cost of living in Red Bank is 1% lower than the South Carolina average
The cost of living in Red Bank is 7% lower than the national average
Red Bank housing is 24% 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

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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	$64,225	$5,352	$1,498	$1,927
Renters	$26,017	$2,168	$607	$781

The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Red Bank, SC, as well as what the overall cost of living might be. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payments and not more than 36 percent of income on all expenses and debts. In Red Bank, homeowners have a median income of $64,225. Using that number, a maximum of $1,498 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $26,017, which means there is a maximum of $607 to be spent on the costs of renting a home or apartment.

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	Red Bank	National avg.	Difference
Haircut	$20.75	$24.26	14.5%
Beauty Salon	$30.56	$45.56	32.9%
Toothpaste	$3.65	$3.70	1.5%
Shampoo	$1.33	$1.28	3.6%
Movie	$12.93	$12.13	6.6%
Bowling	$24.33	$18.00	35.2%

Groceries

Item	Red Bank	National avg.	Difference
Ground Beef	$6.15	$5.84	5.3%
Fried Chicken	$1.67	$1.57	6.2%
Milk	$4.61	$4.67	1.3%
Potatoes	$5.50	$4.93	11.5%
Pizza	$10.35	$12.09	14.4%
Beer	$10.53	$10.41	1.1%

Health Care

Item	Red Bank	National avg.	Difference
Optometrist	$59.00	$125.68	53.1%
Doctor	$150.00	$135.78	10.5%
Dentist	$78.33	$113.29	30.9%
Ibuprofen	$10.46	$10.65	1.8%
Lipitor	$416.30	$468.60	11.2%

Housing

Item	Red Bank	National avg.	Difference
Home Price	$130,600.00	$184,700.00	29.3%
Avg. Mortgage Payment	$1,725.28	$2,346.69	26.5%
Apartment Rent	$848.00	$949.00	10.6%

Transportation

Item	Red Bank	National avg.	Difference
Gasoline	$3.22	$3.46	6.9%
Tire Balancing	$32.03	$59.92	46.5%

Utilities

Item	Red Bank	National avg.	Difference
All Electricity	$290.58	$193.99	49.8%
Phone	$192.75	$192.25	0.3%

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, SC	2,355	83	17.3%
Springdale, SC	2,878	87	12.8%
Swansea, SC	773	88	12.4%
Gaston, SC	2,074	89	11.0%
St. Andrews, SC	21,355	90	10.3%
Red Bank, SC	9,971	93	7.2%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Lambertville, MI	9,970	100	0.3%
Morden, MB	9,973	n/a
Flat Rock, MI	9,974	96	4.2%
Watervliet, NY	9,976	98	2.0%
Charter Oak, CA	9,963	143	42.6%
Red Bank, SC	9,971	93	7.2%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Red Bank, SC