THE iconic welcome sign on the road into Byron Bay has been one of the most quoted, photographed, vandalised, stolen and graffitied pieces of public infrastructure in Australia.

It's supposed to say: "Weclome to Byron Bay. Cheer up, slowdown and chillout."

But some clever wag has worn away at the bottom of the B in Bay and now it says something quite different.

Welcome to Byron Pay. Cheer up, slowdown and chillout.

Perhaps it was some disgruntled Schoolie, or a hipster from Sydney or south east Queensland passing judgment on what it costs to stay in the bay.

All of that paradise and serenity doesn't come cheaply. Local residents know that all too well.

But the summer season is upon us and you can expect to pay a pretty penny if you want to party in Byron Bay.

The hippy days of living on lentils and love alone are long gone.

Now if you want to stay, eat and drink in Byron Bay you better have a line of credit bigger than Chris Hemsworth's chest.

No doubt Byron Shire Council will get around to restoring the welcome sign on Ewingsdale Road.

But in the mean time we are all reminded living in this region does come at a premium.