C+
14%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
49%
Housing NAT. AVG.
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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 Fort Mill South Carolina National
Cost of living11493100
Goods & Services103100100
Groceries10099100
Health care11194100
Housing14980100
Transportation9491100
Utilities89107100

An Overview of Cost of Living in Fort Mill, SC

Understanding the cost of living in Fort Mill 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 Fort Mill cost of living index is 114, which is 14% higher 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.

Housing costs significantly influence the Fort Mill cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 49.3%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.

What Do Locals Say About the Cost of Living in Fort Mill?

Locals have the inside scoop on their city. So, we polled 5 residents in Fort Mill to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 20% find it reasonable with decreasing prices, but 80% think it's quite pricey, with prices that continue to rise.

Is Fort Mill Affordable?

Is Fort Mill an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fort Mill is 65.3% higher than the national average, while the average monthly rent prices are 11.9% higher than average. The affordability of any location can also be influenced by median income levels. Fort Mill has a median household income of $101,699, which is 83.8% higher than the national average.

What Factors can Influence the Cost of Living in Fort Mill?

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Fort Mill, the groceries index is 0.3% higher than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Fort Mill, the healthcare costs are 10.6% higher than the national average.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Fort Mill, the utilities index is 11.2% lower than the national average.

Where is the Data From?

The Fort Mill cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Fort Mill is 23% higher than the South Carolina average
  • The cost of living in Fort Mill is 14% higher than the national average
  • Fort Mill housing is 49% higher 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 Fort Mill

See all the best places to live around Fort Mill

Compare Fort Mill, SC Cost of Living

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      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$118,990$9,916$2,776$3,570
      Renters$45,850$3,821$1,070$1,376
      A good indicator of the general affordability of housing in Fort Mill, SC, is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Fort Mill, the median monthly income is $118,990 for those who own their own homes. Under the standard rule, that income level would allow for $2,776 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $45,850, per the median income in the area. That would allow for renters to spend up to $1,070 on monthly rental expenses.

      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 Fort Mill National avg. Difference
      Haircut $18.25$24.2624.8%
      Beauty Salon $59.75$45.5631.1%
      Toothpaste $3.81$3.702.8%
      Shampoo $1.27$1.280.7%
      Movie $13.55$12.1311.7%
      Bowling $21.67$18.0020.4%

      Groceries

      Item Fort Mill National avg. Difference
      Ground Beef $6.27$5.847.3%
      Fried Chicken $1.39$1.5711.5%
      Milk $4.61$4.671.2%
      Potatoes $4.98$4.931.0%
      Pizza $10.96$12.099.3%
      Beer $10.47$10.410.5%

      Health Care

      Item Fort Mill National avg. Difference
      Optometrist $143.74$125.6814.4%
      Doctor $148.29$135.789.2%
      Dentist $115.52$113.292.0%
      Ibuprofen $10.77$10.651.1%
      Lipitor $467.34$468.600.3%

      Housing

      Item Fort Mill National avg. Difference
      Home Price $305,400.00$184,700.0065.3%
      Avg. Mortgage Payment $3,159.30$2,346.6934.6%
      Apartment Rent $1,062.00$949.0011.9%

      Transportation

      Item Fort Mill National avg. Difference
      Gasoline $3.29$3.464.9%
      Tire Balancing $53.32$59.9211.0%

      Utilities

      Item Fort Mill National avg. Difference
      All Electricity $167.89$193.9913.5%
      Phone $189.90$192.251.2%
      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.
      Catawba, SC1,069990.6%
      JAARS, NC1,0907821.8%
      Rock Hill, SC74,410981.7%
      Lesslie, SC3,185990.9%
      India Hook, SC3,7621033.1%
      Fort Mill, SC19,92011414.4%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Ennis, TX19,917972.6%
      Snellville, GA19,9231043.9%
      Parma Heights, OH19,9168910.9%
      Havelock, NC19,927955.0%
      Lake Zurich, IL19,91212726.9%
      Fort Mill, SC19,92011414.4%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.