The Living Costs in Charleston, SC

Charleston is a prominent and rapidly expanding urban center in South Carolina for various reasons, including its subtropical climate, world-renowned culinary traditions, miles of beautiful beaches, spectacular sunsets, and scenic beauty, to mention a few. New residents are being welcomed into the metro area at a rate of about 38 per day on average. Charleston, South Carolina, is the 231st populous city in the United States, with a population of approximately 120,000 people.
 
Relocating to a different location can be an absolutely thrilling experience, but it can also lead to high living costs due to the increased competition. It is highly recommended that you research the cost of living in the city of Charleston and evaluate the cost of living in your current location if you are considering shifting somewhere. The ability to determine whether this city is more inexpensive or perhaps more expensive than your current place will be advantageous to you in your decision.

What is Cost of Living?
 
For the purposes of this article, the cost of living is defined as the total amount of money required to shoulder an individual's basic living expenses in a specific region and period of time. Lodging, meals, taxation, and medical are all included in this definition. When comparing the practicality of dwelling inside one place to another, the cost of living is widely utilized as a criterion. A cost of living index is highly effective if you are considering relocating to Charleston, South Carolina, and want to determine whether or not relocating here will be advantageous for you and your family based on your anticipated earnings.

Cost of Living in Charleston, SC
 
* Compared to the national average, the living cost in Charleston, South Carolina, is 11% higher.
* Charleston has an average living cost of $2,071.
* Without rent, the projected monthly expenses for a household of four is roughly $3,596.24.
* For a single person who does not pay rent, the anticipated monthly costs come to $1,033.94$.
* According to the city's median after-tax earnings of $4344, it is adequate to fulfill living costs for 2.1 months.
* Charleston is ranked 282nd (in the top 3% of all locations to live globally) on the list of the most fantastic places to live.
* The Holy City is the 89th finest place to migrate to the United States.
* Charleston is the most pleasant city in South Carolina, and it is ranked first in the state.

Cost of Food and Groceries in Charleston, SC
 
* Generally speaking, grocery expenditures in Charleston are approximately 4% more than the national average.
* A meal in a low-cost restaurant is usually priced at  $20.00.
* A three-course feast for two individuals at a mid-range diner will cost you $56.00.
* A McMeal from McDonald's (or a comparable combo meal) is approximately $8.25.
* A regular Cappuccino will cost you $4.99
* A 0.33-liter bottle of Coke or Pepsi usually costs $2.04.
* A 0.33-liter bottle of water is around $1.79.
* A 1.5-liter bottle of water (1.5-liter bottle): $1.83.
* A 1 liter Milk is roughly $0.79.
* A 500g loaf of fresh white bread is approximately $2.69.
* A 1kg of White rice is around $3.85.
* A 1 dozen of Egg is roughly $1.88.
* A 1kg of Chicken fillet is roughly $12.49.
* A 1kg of Beef round is around $12.26.
* A 1kg of Apples is approximately $4.84.
* A 1kg of Bananas usually costs $1.38.
* A 1kg of Oranges is roughly $7.48.
* A 1kg of Tomatoes costs $4.43.
* A 1kg of Potatoes is around $3.56.
* A 1kg of Onions typically costs $3.73.
* One head of Lettuce is roughly $2.50.
* A bottle of mid-range wine will cost you $12.50.

Health Care Costs in Charleston, SC
 
* In the United States, an optometrist appointment typically costs $81.87, which is 24.6%, far less than the national average of $108.57.
* A visit with a general practitioner costs, on average, $131.23, which is 13.0% more expensive than the national average of $116.17 per visit.
*Getting a basic consultation with a dentist in Charleston costs approximately $102.76, which is 3.7% more costly than the national average of $99.13.
* Healthcare expenditures in Charleston are 1% lower than the national average in terms of the total cost of care.
 
Costs of Basic Services in Charleston, SC
 
The cost of a monthly membership in a gym is $27.00.
Approximately $16.70 for a basic haircut at a salon.
The cost of one month of daycare or preschool is $1,000.
On weekends, you can rent a tennis court for an hour for $20.00.
$12.00 for a movie ticket (for an international release).
 
Housing Costs in Charleston, SC
 
Charleston, South Carolina, has a median home price of $386,600.
South Carolina has a median home price equivalent to $223,400.
Home prices in the United States are averaging $291,700.
Over 40% of the people who live in Charleston rent their homes.
The average monthly rental for a studio unit is $1,000.
For a four-bedroom house or apartment, the average monthly rent is more than $2,000 per month.

Utility Costs in Charleston, SC
 
* An estimated $228.13 in monthly electricity costs are incurred by residents of Charleston. Compared to the national average, which is $167.67, this is 36.1% more pricey.
* In Charleston, the average monthly telephone cost is approximately $187.31. Compared to the national average, which is $175.64, this is 6.6% more costly.

The Costs of Education in Charleston, SC
 
* In Charleston, there are 55 public and private institutions and 14 universities and colleges to choose from.
* The annual tuition for a private kindergarten runs from $1,100 to $4,500.
* The average tuition cost at private elementary schools is roughly $6,000, but it can range anywhere from $2,000 to more than $20,000, depending on the school you decide to send your child to.
* Higher education tuition fees are approximately $7,000 on average, but they can range anywhere from $2,000 to over $28,000, depending on the institution you choose to attend.
 
Transportation Costs in Charleston, SC
 
* Over 70% of Charleston locals use their automobiles regularly to get to and from work and to carry out their other daily activities.
* Fuel, upkeep, and vehicle insurance are less expensive in Charleston than on the national average.
* Gasoline is approximately $1.85 per gallon.
* The cost of vehicle insurance ranges from $1,000 to $1,500.
* The cost of automotive maintenance will vary depending on the brand and model of your vehicle.

Taxes in Charleston, SC
 
* In addition to having cheaper property taxes, relocating to Charleston has other financial advantages.
* South Carolina has the 7th cheapest average property tax rate in the United States.
* In South Carolina, the effective property tax rate is 0.57%.
* Retirement benefits from Social Security are not subject to state taxation for retirees.
* Seniors who receive additional income in retirement outside of Social Security are eligible for a tax deduction of up to $15,000.
 
The Holy City is, without a doubt, a great place to call home. It is our goal that the content of this article has informed you in determining whether or not migrating to Charleston, South Carolina, will be advantageous to your situation. For those considering purchasing a home in this area, please do not hesitate to contact us. We will be delighted to be of assistance to you in finding the ideal property for your family based on your lifestyle, individual preferences, and finances. If you have any questions or would like to book an appointment, please get in touch with us by phone at 843-400-3032 or by email at info@riverlandrealtysc.com.