A-
1%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
3%
Housing NAT. AVG.
Search Homes for Sale
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 Red Hill South Carolina National
Cost of living9993100
Goods & Services97100100
Groceries10299100
Health care8994100
Housing9780100
Transportation8891100
Utilities121107100

An Overview of Cost of Living in Red Hill, SC

Understanding the cost of living in Red Hill 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 Red Hill cost of living index is 99, which is 1% 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.

The cost of living in Red Hill closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Red Hill can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Is Red Hill Affordable?

Is Red Hill affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Red Hill, for instance, where the median home price falls 5.5% lower than the national average, and monthly rent rates are 1.5% higher than usual. Additionally, median income levels contribute to the equation, with Red Hill flaunting a median household income of $47,839, 13.5% lower than the national norm.

What Factors can Influence the Cost of Living in Red Hill?

Groceries: The costs associated with groceries have witnessed substantial increases over the past 2-3 years. In select markets, food prices have escalated by more than 20% during this timeframe, whereas others have seen more restrained upticks. The variances in food expenses can exert a considerable influence on the overall cost of living in a given locale. In Red Hill, the groceries index is 1.7% higher than the national average.

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Red Hill, the housing index is 3.4% lower than the national average.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Red Hill, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Where is the Data From?

The Red Hill cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

New Real Estate Listings in Red Hill Area
Search Homes for Sale in Red Hill, SC

Cost Of Living Quick Facts

  • The cost of living in Red Hill is 6% higher than the South Carolina average
  • The cost of living in Red Hill is 1% lower than the national average
  • Red Hill housing is 3% 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 Red Hill

See all the best places to live around Red Hill

Compare Red Hill, SC Cost of Living

      vs
      How would you rate the cost of living in Red Hill?
      Write a review to give others more information about this area.
      Is the cost of living increasing or decreasing in Red Hill?
      Write a review to give others more information about this area.
      See all Red Hill poll results

      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$55,318$4,610$1,291$1,660
      Renters$31,341$2,612$731$940
      The percentage of monthly income spent on housing related expenses can help predict the affordability of housing in Red Hill, 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 Hill, homeowners have a median income of $55,318. Using that number, a maximum of $1,291 per month should be allocated to housing expenses. For those who are renting instead of owning, the median income is $31,341, which means there is a maximum of $731 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 Hill 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 Red Hill 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 Red Hill 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 Red Hill National avg. Difference
      Home Price $174,500.00$184,700.005.5%
      Avg. Mortgage Payment $2,134.33$2,346.699.0%
      Apartment Rent $963.00$949.001.5%

      Transportation

      Item Red Hill National avg. Difference
      Gasoline $3.18$3.468.0%
      Tire Balancing $46.64$59.9222.2%

      Utilities

      Item Red Hill 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%
      Conway, SC24,747964.1%
      Aynor, SC785963.8%
      Socastee, SC25,846981.6%
      Forestbrook, SC7,6131044.2%
      Red Hill, SC16,290991.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Douglas, AZ16,292918.5%
      Parkway, CA16,28211716.8%
      Stuart, FL16,2791033.2%
      Somerton, AZ16,301964.1%
      New River, AZ16,30313434.1%
      Red Hill, SC16,290991.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.