Greenwood cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexGreenwoodSouth CarolinaNational
Cost of living index8395100
IndexGreenwoodSouth CarolinaNational
Goods & Services index94101100
Groceries index103109100
Health care index95100100
Housing index5680100
Transportation index8193100
Utilities index95104100
Displayed above is a general overview of the Greenwood, SC cost of living index. The overall cost of living index in Greenwood, SC is 83, which is 13% lower than the South Carolina average and 17% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Greenwood, SC are 7% lower than the South Carolina average and 6% lower than the national average.

Did you know?

  • The cost of living in Greenwood is 13% lower than the South Carolina average.
  • The cost of living in Greenwood is 17% lower than the national average.
  • The cost of housing in Greenwood is 44% lower than the national average.
  • South Carolina general sales tax is 18% higher than the national average.
  • South Carolina state income tax is 100% lower than the national average.

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Compare Greenwood, SC Cost of living To Other Cities

Salary Calculator

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The salary calculator allows you to compare how much your current salary in Greenwood, SC would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Greenwood, SC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Greenwood, SC salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$36,946$3,079$862$1,108
Renters$20,287$1,691$473$609
If you want to find a good determining factor for the cost of living and the general affordability of housing in Greenwood, SC, all you must look at is the percentage of monthly income that should be spent on housing expenses, otherwise known as the debt-to-income ratio (DTI). Generally speaking, no more than 28 percent of your total gross income should be spent on your housing expenses and not more than 36 percent of your gross income on total expenses, including debts. In Greenwood, SC, the median monthly income is $36,946 for those who own their own homes. Under the standard rule, that income level would allow for $862 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $20,287, per the median income in the area. That would allow for renters to spend up to $473 on monthly rental expenses.

South Carolina Sales Tax

StateGeneral Sales TaxWith Max Surtax
South Carolina6%9%

South Carolina Income Tax

StateIncome Tax (Low)Income Tax (High)
South Carolina0%7%
The South Carolina sales tax and South Carolina income tax rates should definitely be considered when determining the overall cost of living in Greenwood, SC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The South Carolina sales tax is 6% and the maximum surtax is 9%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The South Carolina income tax rates range from 0% to 7%.

Goods & Services

ItemGreenwoodNational avg.Difference
Haircut $12.75$14.5912.6%
Beauty Salon $40.00$34.6815.3%
Toothpaste $3.52$2.4742.3%
Shampoo $1.09$1.026.7%
Movie $9.13$9.877.5%
Bowling $3.50$4.3920.3%

Groceries

ItemGreenwoodNational avg.Difference
Ground Beef $4.79$4.487.0%
Fried Chicken $1.55$1.465.9%
Milk $2.60$2.3610.3%
Potatoes $2.82$3.067.9%
Pizza $10.00$9.248.2%
Beer $8.32$8.633.6%

Health Care

ItemGreenwoodNational avg.Difference
Optometrist $100.00$99.780.2%
Doctor $96.33$105.038.3%
Dentist $82.00$88.707.6%
Ibuprofen $10.65$9.4113.2%
Lipitor $277.99$298.506.9%

Housing

ItemGreenwoodNational avg.Difference
Home Price $86,800.00$175,700.0050.6%
Avg. Mortgage Payment $732.54$1,081.0332.2%
Apartment Rent $643.00$920.0030.1%

Transportation

ItemGreenwoodNational avg.Difference
Gasoline $1.70$2.0918.8%
Tire Balancing $37.00$45.2918.3%

Utilities

ItemGreenwoodNational avg.Difference
All Electricity$144.62$170.8015.3%
Phone $30.95$28.269.5%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Coronaca, SC12668-32%
Mountville, SC8977-23%
Promised Land, SC70277-23%
Troy, SC8577-23%
Cokesbury, SC13878-22%
Greenwood, SC23,29683-17%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Mequon, WI23,30012424%
Riverbank, CA23,31011010%
Keene, NH23,28111313%
Cottage Lake, WA23,31816363%
Munster, IN23,3251088%
Greenwood, SC23,29683-17%
Source: The Greenwood, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.