A move across state lines means making adjustments in several ways. Depending on your city of origin, getting used to prices and compensation in your new hometown can take some time. Knowing what to expect before you move makes the transition a bit easier. If you’re planning to relocate to the Holy City, the following information about the Charleston, SC, cost of living will help you plan accordingly.
You will find out everything you need to know about the Charleston, SC, cost of living and more when you work with Pam Harrington Exclusives. We’ll help you locate your ideal Lowcountry home in one of the area’s most sought-after neighborhoods.
Our experienced real estate agents can also assist you in managing the other facets of your transition. Bring us your questions about financial expectations, neighborhood amenities, local laws and regulations, and anything else you need to know.
Charleston, SC, Cost of Living: Overview
The most important thing to know about the cost of living in Charleston is that it is relatively average for the United States. According to the Council for Community and Economic Research, Charleston had a 111.5 index or 11% higher than the national average in 2020.
While the overall cost of living in Charleston is 11% above the national average, various categories range in how much they fluctuate from the norm.
For example, according to another index published by Realtor.com:
- On average, families in Charleston spend a mere 6% above the standard on groceries
- Charleston’s housing costs round off at the Nation’s median
- Healthcare costs are 5.6% below the average
- Local spending is 5.2% less
So, it’s true—you really can have your house and live in it too!
Other Financial Benefits of Moving to the Charleston Area
Charleston’s cost of living is close to average, which means a move here helps you avoid the inflation of other major cities. There are also other financial benefits to relocating to the Holy City.
Did you know? Recently, Boeing and Volvo invested assembly manufacturers right here in Charleston. The booming industry has brought jobs, profit, and stability to the Lowcountry. Becoming a Charleston resident means benefiting when corporate America decides to move south.
For instance, South Carolina property taxes rank among the lowest in America. The effective real estate tax rate in SC is 0.57%, compared to North Carolina’s 0.86% or Georgia’s 0.91%.
Purchasing a home at a comparable price could cost you more in taxes in a state that requires a higher obligation from homeowners. Contact our knowledgeable real estate team to learn more today!
Finding Your Dream Home at the Right Cost
If you have questions about the Charleston, SC living costs or the other financial implications of moving to the area, contact Pam Harrington Exclusives.
We can simplify the answers to your complex questions to help you get acquainted with the South Carolina Lowcountry. We can also help you find an amazing home on Kiawah Island, Seabrook Island, or in Charleston.
Our agency offers some of the finest real estate available in the region, so you can be sure you’re getting the best home when you work with us.
Charleston’s growing popularity means that our luxury houses often sell fast. You’ll have an advantage when details about our new listings are sent directly to your inbox. When you’re ready to put in a bid on your perfect home, we’ll be here to help with every detail of the process.