Total monthly cost of ownership
Cost to Own a Home in Hilton Head Island, South Carolina
A $652,000 home here costs
$4,893per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $209,500 a year.
A standard mortgage calculator would have told you $3,555. The real number is $1,338 higher every month, 38% more than the payment most buyers budget for.
Compare Beaufort County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Hilton Head Island against Beaufort County and South Carolina
| Measure | Hilton Head Island | Beaufort County |
|---|---|---|
| Median home value | $652,100 | $407,600 |
| Median property tax | $2,965 | $2,022 |
| Effective tax rate | 0.455% | 0.496% |
| Median gross rent | $1,518 | $1,484 |
| Population | 37,805 | 192,123 |
The weather behind that power bill
Hilton Head Island sits in Beaufort County, which averages a high of 91.8°F in its hottest month and a low of 40.1°F in its coldest, with 45.02" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 2,570 cooling and 1,732 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Beaufort County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Beaufort County
Full Beaufort County cost breakdown · Every county in South Carolina
Talk to someone who works this market
These are Hilton Head Island averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Hilton Head Island every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Hilton Head Island I already own here and may sell
Common questions
How much does it cost to own a home in Hilton Head Island?
A $652,000 home in Hilton Head Island, South Carolina costs approximately $4,893 per month with 20% down at 7.24%. That is $3,555 principal and interest, $247 property tax, $314 homeowners insurance, $233 utilities and $543 set aside for maintenance.
What is the property tax rate in Hilton Head Island?
Hilton Head Island has an effective property tax rate of 0.455%, based on a median home value of $652,100 and median real estate taxes of $2,965. That is lower than the Beaufort County average of 0.496%.
What is the average home price in Hilton Head Island?
The median owner-occupied home value in Hilton Head Island, South Carolina is $652,100, against $407,600 across Beaufort County.
Is it cheaper to rent or buy in Hilton Head Island?
Median gross rent in Hilton Head Island is $1,518 a month, against $4,893 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Hilton Head Island?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Hilton Head Island, South Carolina at today's rate takes a household income of roughly $209,500 a year. That covers the full $4,893 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Hilton Head Island, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for South Carolina.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.