| Index | Charleston | South Carolina | National |
| Cost of living | 123 | 94 | 100 |
| Groceries | 100 | 99 | 100 |
| Health care | 100 | 98 | 100 |
| Housing | 177 | 81 | 100 |
| Transportation | 96 | 99 | 100 |
| Utilities | 99 | 101 | 100 |
| Lifestyle & Entertainment | 102 | 98 | 100 |
| Household Items | 99 | 99 | 100 |
| Education & Childcare | 103 | 98 | 100 |
Knowing the cost of living in Charleston allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Charleston stands at 123, marking it 23% higher than the national average.
The cost of living in Charleston is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Charleston falls into this category, which may not be suitable for those seeking an economically favorable living environment.
Housing costs are a very significant part of the Charleston cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 76.6% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 28 locals to understand their opinions on the cost of living in Charleston. The results indicated that 29% found it reasonably priced with decreasing prices of goods and services, while 71% viewed it as quite expensive, with increasing prices.
Is Charleston an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Charleston is 92.8% higher than the national average, while the average monthly rent prices are 38.9% higher than average. The affordability of any location can also be influenced by median income levels. Charleston has a median household income of $106,951, which is 31.5% higher than the national average.
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 76.6% higher than the national average.
Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Charleston comes in at 0.6% lower than the national average.
Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Charleston, the healthcare costs are 0.1% higher 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 | $156,485 | $13,040 | $3,651 | $4,695 |
| Renters | $74,074 | $6,173 | $1,728 | $2,222 |
| State | General Sales Tax | With Max Surtax |
| South Carolina | 6% | 9% |
| State | Income Tax (Low) | Income Tax (High) |
| South Carolina | 0% | 6.5% |
| City | Population | Cost of Living Index | National Avg. |
| North Charleston, SC | 117,218 | 102 | 1.9% |
| Goose Creek, SC | 44,214 | 106 | 6.4% |
| Hanahan, SC | 26,450 | 110 | 9.6% |
| James Island, SC | 12,534 | 125 | 25.4% |
| Mount Pleasant, SC | 91,527 | 140 | 40.4% |
| Charleston, SC | 142,427 | 123 | 22.8% |
| City | Population | Cost of Living Index | National Avg. |
| Carrollton, TX | 142,475 | 111 | 11.1% |
| Surprise, AZ | 142,589 | 115 | 15.0% |
| Whitby, ON | 142,607 | n/a | |
| Waco, TX | 142,208 | 93 | 7.0% |
| Milton, ON | 142,128 | n/a | |
| Charleston, SC | 142,427 | 123 | 22.8% |
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