How Expensive Is It to Live in South Carolina?

South Carolina, often called the Palmetto State, draws many with its pleasant climate, diverse culture, and appealing landscapes. This Southeastern state offers a blend of historic cities, coastal charm, and scenic natural beauty, making it an attractive destination for both residents and visitors. Understanding the financial aspects of living in South Carolina is an important step for anyone considering a move to this vibrant state.

Overall Financial Landscape

South Carolina generally presents a more affordable cost of living compared to the national average, often scoring below the national index of 100. The state’s cost of living index typically ranges from 89.3 to 95.5, indicating that overall expenses are notably lower than the national benchmark.

The average household income in South Carolina stands at $92,833, with a median household income of $66,818 annually. While these figures are somewhat lower than the national averages, the reduced cost of living can help to balance the financial equation for residents.

Regional variations exist across the state, with certain areas being more expensive than others. Coastal cities like Charleston and Hilton Head Island typically have higher living costs, including elevated housing prices, reflecting their popularity and demand. Conversely, inland cities and more rural areas, such as Greenville, Aiken, and Columbia, generally offer a more economical lifestyle, making them attractive options for those seeking lower expenses.

Housing and Utility Expenses

Housing represents a substantial portion of living expenses, and South Carolina generally offers more accessible options than many other states. The median home value across the state was $236,700 in 2023, and increased to $377,600 by January 2025, which remains lower than the national median. For renters, a one-bedroom apartment averages around $1,392 and a two-bedroom averages $1,556 per month as of August 2025.

Rental prices vary significantly by location; for instance, a one-bedroom apartment in Charleston averages $1,826, while in Columbia it is around $1,157, and in Greenville, it is $1,309. Similarly, median home prices reflect these regional differences, with Charleston at $584,661, Columbia at $216,536, and Greenville at $358,800. Factors influencing these costs include population growth, limited housing inventory, increased construction expenses, and fluctuating interest rates.

Utility costs in South Carolina can be a notable expense. The average monthly utility bill in the state is around $418.23 to $507, influenced by factors such as the hot, humid summers that necessitate extensive air conditioning use. Electricity bills average around $138 to $138.65 per month, and total cooling costs during summer can reach an average of $842. High energy consumption contributes to these figures.

Daily Living Costs

Food costs constitute a significant portion of a household’s budget, with average monthly grocery bills for a family of four estimated at around $1,401. For an individual, this figure is closer to $350 per month. While grocery prices generally align with national averages, variations exist across different cities, with some areas like Charleston experiencing slightly higher costs for certain food items. Eating out also contributes to the overall food budget, with an average daily cost for meals around $88 per person.

The annual cost for transportation can range from approximately $10,477 to $17,554, depending on factors such as commuting habits and vehicle ownership. Gasoline prices in the state typically hover around $2.77 to $2.81 per gallon for regular fuel. Car insurance premiums average between $1,418 and $2,009 annually for full coverage, while minimum liability coverage can be around $625 per year.

Several factors influence car insurance rates, including a driver’s record, age, location, the type of vehicle, and even credit score. Urban areas, due to higher traffic density and increased accident rates, often see higher premiums compared to rural regions. While public transportation options are available in major urban centers, personal vehicles remain the primary mode of transport for a large segment of the population.

Healthcare costs in South Carolina are generally lower than the national average. An individual can expect to spend approximately $6,677 per year on healthcare, encompassing various services. This lower cost can be attributed to the overall cost of living and a competitive healthcare market within the state. Miscellaneous personal expenses, such as personal care items, clothing, and entertainment, also factor into a household’s budget. For instance, monthly gym memberships in major cities like Charleston, Columbia, and Greenville typically range from $29.17 to $71.

Taxation and Essential Services

South Carolina’s tax structure plays an important role in the overall cost of living. The state imposes a graduated income tax. For the 2024 tax year, income tax rates range from 0% to 6.2%. These tax brackets apply uniformly regardless of filing status.

The statewide sales tax rate in South Carolina is 6%. However, consumers may encounter additional local sales taxes imposed by counties and municipalities, which can increase the total sales tax rate to as high as 9% in some areas.

Property taxes in South Carolina are notably low compared to national averages, with an average effective property tax rate ranging from 0.53% to 0.72%. The calculation of property taxes involves three main components: the property’s fair market value, an assessment ratio, and the local millage rate. For owner-occupied primary residences, the assessment ratio is 4% of the fair market value, while other property types, such as rental or commercial properties, are assessed at 6%. Millage rates, expressed in mills, are set annually by local governing bodies and can vary across counties and cities.

For example, a home valued at $200,000 used as a primary residence would be assessed at $8,000 (4% of $200,000). This assessed value is then multiplied by the local millage rate to determine the tax bill. This system contributes to the state’s affordability for homeowners. South Carolina also exempts primary homeowners from paying property taxes specifically for school operating costs.

Childcare costs can be a substantial expense for families. In South Carolina, the average annual cost for infant care ranges from approximately $7,007 to $9,048, or about $584 to $754 per month. For a 4-year-old, the annual cost is around $8,216. These costs can vary based on the type of care and geographic location within the state, with urban areas often having higher rates.

Public K-12 education is largely funded through taxes. Incidental fees for specific activities or supplies may still apply. For higher education, in-state tuition rates for public colleges and universities in South Carolina averaged around $12,159 to $16,262 per year for the 2024-2025 academic year.