Is It Expensive To Live In Hilton Head SC?
The resort town of Hilton Head is located on the coast of South Carolina, and it is more commonly known as Hilton Head Island. With about 40,000 residents and a median age of 57, the city is famous amongst retirees. Also, the town features top-notch amenities that are family-friendly, and everyone can find something fun to do in this beautiful Lowcountry coastal destination. Tourists love it, but what’s it like to be a resident? Is it expensive to live in Hilton Head, South Carolina? Let’s find out.
If you are wondering what Hilton Head SC is known for, it would have to be the world-class beaches and golf courses that make it stand out as a top vacation destination. During the summer vacation season, the population can swell up to 150,000 people, and this creates some traffic and crowds, but it also boosts the costs of living, especially when it comes to housing.
Even though the crime rate in Hilton Head SC is low, making it safe and overall an excellent place to live, many would argue that the costs of living are relatively high. The median home value, according to Zillow and Realtor, is around $450,000 and the average rent is about $2,300. If a decade ago, you would’ve been able to rent a one-bedroom apartment with $750/month, nowadays, you can get the same apartment for almost double the price.
Going 33 miles to the south along the coast, you would reach Savannah GA, which is about 50% cheaper than the Hilton Head island of South Carolina. The costs of living on the island are higher than Naples, FL, by about 8%, making it less affordable for the lower and even the middle class. Because of the high costs of living, more people consider it a better place to visit and not to live in.
You can reach out to our realtors in Hilton Head SC if you want to find out more about the housing market in the area, or if you are interested in selling/buying property. Is the cost of living in Hilton Head South Carolina outweighing the world-class amenities of this resort town, or is it the other way around? Let us know by leaving a comment.
Popular Real Estate Glossary Terms
Bond whose interest is free of federal, state, or local tax in the state of the issuer. It is typically a municipal bond of estate or county agency. For example, a New York City resident ...
Date of the valuation of property, usually contained in a report. ...
Right of tenant to make use of a property's wood or food producing capacity to provide for his or her own necessities. ...
making land more beautiful to look at by adding improvements such as lawns, trees, and bushes. Increases the value of the property. ...
What does the word draw mean in domain-specific terminology? A draw means a specific sum of money or other valuables that a person or company transfers to another for personal (or business ...
Also known as “cap rate” or “income yield”, Capitalization Rate is a useful way to compute the rate of return on a real estate investment. It is commonly used in the ...
House that can be bought at a low price because it is in poor condition. A buyer who is handy may find it attractive because he can personally make the needed repairs without hiring others. ...
One who sells real estate or other products. ...
Has not been registered on the companies books. It belongs to the person holding it. See also bearer bond; bearer instrument. ...
Have a question or comment?
We're here to help.