If you are considering moving to South Carolina, find out about the cost of living, including housing, food, and transportation! Then seek the services of a realtor in Greenville, SC, who will help you choose the desired property, following your budget and the location where you want to purchase the property. South Carolina is an excellent state with a lot to offer. One of the attractions of this state is that it has one of the lowest crime rates in the country. Whether you love breathtaking beauty, or a warm and welcoming atmosphere, South Carolina has a lot to offer. South Carolina has unparalleled scenic beauty, from rural mountains to sandy beaches. Anyone who enjoys excellent weather or is a nature lover should visit South Carolina. South Carolina is a trendy place to live, but the cost of living here is lower than the national average. When you examine the expense of living in South Carolina, you can easily find a real estate option that fits your budget and your current needs. Find a South Carolina real estate agent who understands what you’re looking for, will advocate for you, and swiftly close the transaction. Start by browsing this home guide, then keep scrolling for all the details on how to invest in real estate in South Carolina.
Real estate price range in South Carolina
No matter where you live, housing (rental or mortgage) is one of the highest living costs. You should base your budget on projected housing costs to know how much it might cost. The cost of living in South Carolina is below the national average. With that in mind, you need to know which areas fit your budget. Renting is relatively affordable in South Carolina, and you can save even more when renting with a roommate. For example, renting and sharing a two-bedroom apartment can save you about $700 a month. In this scenario, if you’re leasing for 12 months, you can save over $8,000 by choosing to have a roommate. South Carolina has many rental properties, from modern high-rise apartments to historic single-family homes. South Carolina has something for every renter.
Find the perfect apartment in South Carolina.
When unsure about a neighborhood, evaluate month-to-month apartments before committing to a long-term 12-month contract. If you are a first-time renter, choose to live in a place that will allow you to build your credit and savings. Finally, if you want to rent an apartment and have a more personal relationship than with a property manager, consider renting directly from the landlord.
Transportation in South Carolina
For a single adult, the average cost of transportation in South Carolina, whether driving or commuting, ranged between $1,200 to $1,805 per year. For a family of four, two working adults and two children, you can expect to spend about $15,000 a year on transportation. South Carolina has minimal public transit in operation, including city buses. Public transport may be an option, but it is easier to use reliable private transport. You can get a better idea of the cost of owning a car by looking at average gas prices in major cities in South Carolina.
Food prices in South Carolina
The average single person in South Carolina spends about $3,000 a year on food. For a family of four with two working adults and two children, these costs are about $10,000 a year, or about $800 a month. Note that these numbers apply to meals prepared in a home kitchen. If you are a fan of expensive fine dining, you can plan to spend extra on food. Eating outside the kitchen can be challenging, with many delicious South Carolina restaurants and iconic dishes. South Carolina is known for its famous boiled peanuts, chili cheese, kebabs, kale, sweet teas, and more.
Medical expenses in South Carolina
Maintaining a healthy lifestyle is always an important priority, no matter where you live. Health insurance is always needed for regular check-ups or chronic illnesses. The right health insurance will help you get the treatment you need in emergencies. An adult without children will pay about $3,000 yearly in medical bills, while a family of four (two working adults and two children) will pay about $9,000, excluding childcare. Child support increases care costs, averaging $11,000 per year. Before buying real estate in South Carolina, check your health insurance to see what insurance is available in your new state. If you need to move outside the filing period, usually in November, you can report the move to ensure you qualify for out-of-state insurance coverage. When you leave the state, you can keep your parent’s policy until you are 26 years old. Before you move, check with your current insurance provider to find out which doctors are in network for your new location.
Utilities in South Carolina
Average rates for utility services differ depending on which city you moved to. South Carolina has a competitive advantage in utility pricing, with a national average monthly utility bill of $240. Only Charleston has rates slightly higher than the state average. Monthly utility costs for the average home in South Carolina’s major cities, including electricity, heating, air conditioning, water, and garbage, are $150-$200 per month. Note that this average cost does not include other expenses like the Internet. The average monthly fee for the Internet is in the range of $60-$70 per month. You also need to account for your monthly cell phone bill. The national average price for a cell phone is approximately $95 per month. You can link your phone to your Internet service provider to save some of these costs. Other discounts may include special deals for new customers, so discuss this with your supplier.
Entertainment and fitness
South Carolina has plenty of fitness and entertainment options. Before moving to South Carolina, look at your financial expenses for fitness and various recreational activities. South Carolina has relatively mild winters and hot, humid summers, and this humid climate can make it difficult to exercise outside in the summer. Consider a gym membership to stay in shape all year round. Fortunately, the cost of an average monthly fitness club membership in South Carolina’s major cities is relatively low, ranging from $30 to $60 per month, depending on your chosen fitness club. South Carolina offers many outdoor activities, such as hiking, backpacking, and sailing, to save you money when the weather is nice.
South Carolina taxes
South Carolina has eight national parks and many museums that offer year-round family fun. South Carolina is a great place to live, but state income taxes are high. Also, keep in mind that the state sales tax is 6%, one of the top 20 taxes in the country, and most counties also charge a local sales tax. Moving to this state comes with other significant financial expenses. Additional fees, such as apartment registration fees or security deposits, are also charged upon arrival at the new accommodation. Furnishing a new house is also expensive. You want to decorate in a way that makes you feel at home, so also you need to factor these costs into your budget.
What salary do you need to live in South Carolina?
The recommended salary in South Carolina depends on the lifestyle you lead. You can consider different employment options to find your ideal salary. The median household income in South Carolina is $58,234 per year or about $29.12 per hour. The median household income for the rest of the country is $69,021. The rule that determines the recommended salary in South Carolina is the 30% rule. According to the 30% rule, you shouldn’t spend more than a third of your gross income on rent. For example, if you want to rent an apartment in Charleston, the average price of a one-bedroom apartment is $1,481. According to the 30% rule, your monthly salary must be at least $4,936.37. When you want to move to a beautiful state with an excellent quality of life, South Carolina may be the perfect place to live!
The cost of living in South Carolina in 2023 makes it an attractive place to live. On average, renting a one-room apartment in the cities of South Carolina costs $900-$950 per month, and a two-room apartment costs $1,200 per month.
Residents of South Carolina can also easily access other southern states. South Carolina and Georgia are 300 miles away, about a 3-hour drive. The flight between South Carolina and Georgia takes about an hour. The distance between South Carolina and Florida is 798 miles, and it takes 7-8 hours by car. The flight takes about 1 hour and 20 minutes. According to the U.S. Census Bureau, South Carolina has a population of 5,190,705.