| Index | Charleston | Illinois | National |
| Cost of living | 87 | 98 | 100 |
| Groceries | 98 | 100 | 100 |
| Health care | 99 | 100 | 100 |
| Housing | 64 | 95 | 100 |
| Transportation | 98 | 101 | 100 |
| Utilities | 96 | 99 | 100 |
| Lifestyle & Entertainment | 98 | 100 | 100 |
| Household Items | 97 | 100 | 100 |
| Education & Childcare | 92 | 100 | 100 |
Getting a feel for the cost of living in Charleston is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Charleston is 87, which is 13% lower than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
Nobody knows their city better than the people who actually live there. So, we asked 6 local residents how they would rate the cost of living in Charleston and this is how they responded. 50% of people said that the cost of living was affordable, with prices decreasing, while 50% of people said that the cost of living was very expensive and prices continue to rise.
Is Charleston affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Charleston, for instance, where the median home price falls 40.8% lower than the national average, and monthly rent rates are 25.7% lower than usual. Additionally, median income levels contribute to the equation, with Charleston flaunting a median household income of $62,709, 22.9% lower than the national norm.
Subsidies: Some cities and states may extend government subsidies or aid programs aimed at reducing the cost of living for their residents. These initiatives encompass diverse forms of support, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farm subsidies. Regions with limited subsidy provisions may witness an increase in their overall cost of living.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Charleston, the baseline sales tax rate begins at 6.25%, and income tax rates start at 4.95%.
Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Charleston, the housing index stands at 36.2% lower than the national average.
The Charleston cost of living data above is designed around a U.S. average baseline of 100, allowing for easy comparisons of relative living costs. Housing incorporates U.S. Census home price and rental data, while all other figures are AI-assisted estimates that account for regional price trends, climate, transportation dynamics, and common everyday expenses. These values are best used as directional city-to-city comparisons.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $96,401 | $8,033 | $2,249 | $2,892 |
| Renters | $41,111 | $3,426 | $959 | $1,233 |
| State | General Sales Tax | With Max Surtax |
| Illinois | 6.25% | 10.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Illinois | 4.95% | 4.95% |
| City | Population | Cost of Living Index | National Avg. |
| Kansas, IL | 801 | 77 | 22.7% |
| Westfield, IL | 585 | 81 | 19.2% |
| Hindsboro, IL | 416 | 83 | 17.2% |
| Oakland, IL | 1,103 | 83 | 17.0% |
| Lerna, IL | 258 | 82 | 17.7% |
| Charleston, IL | 20,693 | 87 | 13.0% |
| City | Population | Cost of Living Index | National Avg. |
| Cobourg, ON | 20,684 | n/a | |
| Pitt Meadows, BC | 20,683 | n/a | |
| Fort Mill, SC | 20,703 | 115 | 15.1% |
| Tukwila, WA | 20,710 | 126 | 25.7% |
| Rio Rico, AZ | 20,721 | 97 | 2.8% |
| Charleston, IL | 20,693 | 87 | 13.0% |
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