Hilton Head Area Information
Hilton Head Market Information
With a population of just under 34,000 Hilton Head Island is a small town with lots of big city amenities. To help you better understand the area you’ll be moving to, we’ve put together some information about the cost of living, trends, housing costs, area businesses, culture, festivals and more.
Hilton Head Employment Outlook
For a small town, Hilton Head Island boasts a lot of opportunities, particularly if you’re willing to commute throughout Beaufort Country. The vast majority of employment opportunities in Hilton Head Island are in the private sector, which accounts for nearly 86% of the employment market. Local government accounts for 9.67% of the market, followed by the state and federal governments.
There are more than 5,120 employers in the Hilton Head Island area. Of those, 5,038 are private companies. The average weekly wage is $406 in Hilton Head Island, or roughly $31,400 a year. Private sector wages are slightly lower than government wages.
The vast majority of private sector jobs are in services as opposed to products, which accounts for a little less than 11% of all business activity. The top service jobs are in leisure and hospitality, owing largely to Hilton Head Island being a tourist destination, trade, transportation and utilities. Construction and manufacturing related products account for the goods made in the greater Hilton Head area.
Unemployment in the Hilton Head Island area is lower than the national average. As of mid 2010, the state unemployment rate was 10.3%. In comparison, Hilton Head’s unemployment was just under 6%.
Hilton Head Cost of Living
The annual median family income in Hilton Head Island is $82,646. When adjusted for cost of living, it’s $77,968 per year.
The cost of living is higher in Hilton Head than other communities of its size, primarily because of its real estate, which is nearly double the national average. This is a bit deceiving since any island real estate in any part of the country will be higher than comparable property on the mainland.
Outside of housing, the cost of living is roughly the same as the national average. Utilities are a bit less, food a bit higher. If the national average was expressed as 100 on a scale, Hilton Head’s cost of living is as follows: