With a cost of living close to the national average, the Charleston region offers an affordable cost of living, especially compared to other rapidly growing regions. With a cost of living close to the national average, the Charleston region offers an affordable cost of living, especially compared to other rapidly growing communities. As a SoFi member, you have access to exclusive benefits designed to help you succeed with your money, your community and your career. Earn points for moving toward financial independence every step of the way.
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We recommend that you review the privacy policy of the site you are accessing. SoFi does not guarantee or endorse the products, information or recommendations provided on any third-party website. Last updated: November 4, 2020 The cost of living in South Carolina is lower compared to many other parts of the country. It's no surprise that the state has one of the largest influxes of new residents in the country.
With coastal beaches in the east and mountain peaks in the west, South Carolina definitely has plenty of reasons for its growing popularity. If you're thinking about moving to South Carolina, find out what to expect from a variety of living costs. Average annual per capita cost in South Carolina Food and beverages (not restaurants) All other personal expenses Here's what you can expect in terms of the cost of living for housing in South Carolina per month, based on average prices for different living situations. When combined all together, public services can represent a large percentage of your cost of living each month.
This is how the expenses are broken down for each category. The average monthly cost of transportation in South Carolina is an important cost that you should consider in your budget, whether you live in one of South Carolina's largest cities, such as Charleston and Columbia, or in more rural areas, such as Calhoun and Greenville counties. These 2024 data from the MIT Living Wage Calculator give you an idea of the average transportation costs each year based on family size. Average annual transportation cost Two working adults, no children Two working adults, three children This is how annual medical expenses vary by family size, according to the MIT living wage calculator.
Like just over half of the states, South Carolina has a gradual income tax rate. People with the highest incomes in the state pay 6.4% in income taxes, according to the Tax Foundation. That tax rate is in addition to federal income tax. For comparison, California has the highest state income tax bracket, at 13.3%, while states like Texas, Florida and Nevada have no income tax.
The cost of living in South Carolina varies depending on the area in which you settle. These are three of the most affordable areas that aren't too rural, according to 2024 data from the Community and Economic Research Council's cost-of-living index. Employment industries include energy, banking, transportation, and healthcare. Some of the area's major employers include Savannah Riversite, SRP Federal Credit Union, Bridgestone, UPS Customs Brokerage and Medac. Centrally located in South Carolina, Columbia scores 92 on the cost-of-living index.
The recently revitalized downtown area hosts a variety of festivals throughout the year and is home to the Soda City market. As the state's capital, the government is the city's largest employer, followed by health and insurance companies, the University of South Carolina and the U.S. In the U.S., South Carolina is an increasingly popular place with lots of affordable places across the state. And you'll start to feel at home right from the start with picturesque cultural, artistic and natural reserves to explore.
Start your trip to South Carolina with a SoFi home loan that includes low down payment options and a guaranteed closing date. (WCSC): An apartment search platform listed the Charleston area as the second most livable metropolitan area in the state of Palmetto. The cost of living in Charleston-N (Charleston, SC) is 2.16% lower than in your current city. The city that ranked first among South Carolina's metropolitan areas was Myrtle Beach, which ranked 63rd nationally.
Here's what you can expect in terms of the cost of living of housing in South Carolina per month, based on average prices for different life situations. Transportation is an important cost to factor into your budget, whether you live in one of South Carolina's largest cities, such as Charleston and Columbia, or in more rural areas, such as Calhoun and Greenville counties. Charleston was reportedly ranked for its economy, its “low cost of living” and “spacious apartments,” quality schools and abundant green spaces. The amount of money you need based on the cost of living in South Carolina depends on factors such as your lifestyle and family size.
Greenville was six places behind Charleston in 77th, while Spartanburg ranked 85th nationally and Columbia ranked in the Position 113.
