Hilton Head Island, SC is an attractive destination for many due to its picturesque views and perfect location on the coast. It is a popular spot for both tourists and locals alike. However, it can be quite expensive to live there with the average 2 bedroom rent costing $1,520 per month compared to the US average of $1,430. Additionally, the Grocery Cost Index is 107 versus 100 in the US—this reflects a higher cost of living in Hilton Head Island than other parts of America. There are a few businesses that contribute to this high cost such as Sea Pines Resort, Hyatt Regency Hotel & Spa, and Marriott Vacation Club International. With multiple golf courses, luxury resorts, upscale restaurants and shopping centers all within close proximity, it's no wonder why Hilton Head is so expensive!
Hilton Head Island has an unemployment rate of 3.4%. The US average is 6.0%.
Hilton Head Island has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 34.7%, which is higher than the US average of 33.5%.
Tax Rates for Hilton Head Island
- The Sales Tax Rate for Hilton Head Island is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Hilton Head Island is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hilton Head Island
- The average income of a Hilton Head Island resident is $45,116 a year. The US average is $28,555 a year.
- The Median household income of a Hilton Head Island resident is $87,884 a year. The US average is $69,021 a year.