Cost of living in Hickory Grove, SC

Are you planning a move to Hickory Grove, SC and wondering if it is an expensive place to live in? We’ll break down the cost of living in Hickory Grove by answering the following key questions - what is expected cost of living Hickory Grove, what is the median income in Hickory Grove, what is a good livable salary in Hickory Grove, and what are the average rent and home prices in Hickory Grove.

Is Hickory Grove expensive to live in?

Hickory Grove is part of Charlotte-Concord-Gastonia -SC Metro metro area, which is ranked 165 out of 273 cities across the US in terms of cost of living. According to C2ER (the Council for Community and Economic Research), the cost of living in Hickory Grove is estimated to be 91.7% of the national average making it an average US city.

Total monthly expenditure you can expect to incur depends on the cost of housing, food, utilities, transportation, healthcare, other miscellaneous goods and services. Note that your household composition (single or married, number of kids) and home ownership status (renting vs. owning) might affect your monthly expenses.

Hickory Grove, SC is ranked
165/273 cities in the US
estimated to be 91.7% of the national average making it an average US city

  See our Hickory Grove City Guide

How does Hickory Grove compare with the rest of the US?

Hickory Grove is ranked 165 out of 273 cities across the US in terms of cost of living. The cost of living in Hickory Grove is 91.7% of the national average.

Compare Hickory Grove to:

CategoryHickory GroveU.S. Average
Hamburger$4.49
(-0.77%)
$4.52
Chicken (2 pcs)$4.19
(+1.10%)
$4.14
Large Pizza$10.24
(-3.89%)
$10.64
Milk (1/2 gal)$1.58
(-28.24%)
$2.03
Bread$3.29
(-2.28%)
$3.37
Doctor Visit$108.33
(-6.89%)
$115.79
Dentist Visit$116.5
(+14.64%)
$99.45
Rent$870
(-34.54%)
$1,170.47
Mortgage$953.26
(-25.48%)
$1,196.14
Gas$2.02
(-5.20%)
$2.12
Energy Bill$164.19
(-0.96%)
$165.76
Compared to national average
8% lower
Housing compared to national average
22% lower

What is a cost of living calculator?

A cost of living calculator helps you to assess how much you will need to make in order to live comfortably in a specific city. It takes into account various expenses that you will make in your daily lives (on housing, food, utilities, transportation, entertainment, etc.) and helps you determine a livable salary. The prices of goods and services vary in different cities, and hence having a cost of living index or calculator can make the decision to move easier by allowing you to directly compare one city with another.

Cost of Living Calculator for Hickory Grove

Get an estimate of the pre-tax and post-tax income, your expected expenditure on food, utilities, transportation, housing, and more with our cost-of-living calculator. Simply pick your marital status and family type from the drop-down. The calculator will give you a breakdown of your monthly spends on food, utilities, transportation, housing, healthcare, and other miscellaneous items to help you determine your cost of living in Hickory Grove. Try it now.

Marital Status

Family Type

Your required pre-tax income
$0
Your required post-tax income
$0
CategoryExpenditure
Food$0
Utilities$0
Transportation$0
Healthcare$0
Housing (Rent / Mortgage)$0
Other Housing$0
Miscllaneous$0
Total Annual Expenditure$0

What is a livable salary in Hickory Grove?

The median household income in a city certainly helps gauge the cost of living. The median household income in Hickory Grove is $54,286, which is 2% more than that of the state. The median income for an individual is $31,016, which is 0% less than that of the state.

The minimum salary you need to live in Hickory Grove is the sum of your daily expenses (groceries, utilities, transportation, entertainment), your monthly housing-related costs (rent, mortgage, insurance, maintenance), any debt expenses (monthly interest payments and principal paydowns), as well as your savings and investment goals.

A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax).

Understanding the expected costs in Hickory Grove can help you determine whether a given salary is a livable salary. For instance, if you know the typical housing costs in Hickory Grove, you can use widely followed simple rules to determine if you can afford it on your salary. A good rule of thumb for housing affordability is the 28% rule: your monthly rent or the sum of your monthly mortgage, property taxes, and insurance should not exceed 28% of your gross income (income before tax). Another good rule of thumb is the 50-30-20 rule which says 50% of the net income (income after tax) should be spent on needs, 30% on wants, and 20% on savings and investments. So plan to ensure that your net income covers your needs and wants, so that you can live comfortably in Hickory Grove, SC.

Median Household Income
$54,286

Median Individual Income
$31,016

What is the average rent in Hickory Grove?

Housing is generally the biggest monthly cost that you would need to account for. The average rent in Hickory Grove (located in Charlotte-Concord-Gastonia -SC Metro) metro area for a 2-bed home is $870, which is 25% less than the average rent across the US. However, this average takes into account both metro and suburban areas. So, the costs may go up or down depending on which neighborhood you eventually decide to stay.

Rent compared to national average
25% less

What is the median home price in Hickory Grove?

The median home price in Hickory Grove is $177,000 with a median price per sqft of $127.

The cost of living index for housing estimates the cost of housing in Hickory Grove to be 78% of the national average. This makes it one of the least expensive cities in the US.

Median Home Price
177k
Median Price/Sqft
$127
Average Rent
$870
Housing Index
78%

About the cost of living data

  1. To calculate the cost of living, data has been taken from C2ER (Council for Community and Economic Research)
  2. The Cost of Living Index takes into account the data from 273 cities across the US
  3. The Cost of Living Index and hence, the ranking reflects cost differentials for professional households in the top income quintile

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Listing provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. © 2021 Triangle MLS, Inc. of NC.
All information provided is deemed reliable but is not guaranteed and should be independently verified. Triangle MLS, Inc of NC, ZeroDown and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Triangle MLS, Inc. of NC and ZeroDown assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law.

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Based on information submitted to the MLS GRID as of 7/29/2021, 6:19:23 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.