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Cost of Living in Hilton Head Island

Is it better to rent or buy in Hilton Head Island? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$95,354
$1,840/mo

Median in area: $1,840

$687,943

Median in area: $687,943

$137,589

If you Rent

🔑
$1,993 /mo
Base Rent$1,840
Est. Utilities$153
% of Income25.1%
Pre-tax Residual$5,953

If you Buy

🏠
$4,885 /mo
P&I (6.792%)$3,585
Taxes & Ins$1,147
Est. Utilities$153
% of Income61.5%
Pre-tax Residual$3,061

Cost of Living FAQs

Is it cheaper to rent or buy in Hilton Head Island?›

Based on median housing data, renting is currently more affordable on a monthly basis in Hilton Head Island. The estimated all-in monthly cost for renting is $1,993, while owning a median-priced home with a 20% down payment is roughly $4,885 per month (a difference of $2,892).

How much do utilities cost in Hilton Head Island?›

The average monthly utility cost (electricity and natural gas) for a typical home in Hilton Head Island is approximately $153. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Hilton Head Island?›

To comfortably afford the median rent and utilities in Hilton Head Island without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $79,720 per year.