| Index | Greenwood | South Carolina | National |
| Cost of living | 86 | 94 | 100 |
| Groceries | 97 | 99 | 100 |
| Health care | 98 | 98 | 100 |
| Housing | 59 | 81 | 100 |
| Transportation | 97 | 99 | 100 |
| Utilities | 102 | 101 | 100 |
| Lifestyle & Entertainment | 95 | 98 | 100 |
| Household Items | 99 | 99 | 100 |
| Education & Childcare | 101 | 98 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Greenwood? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Greenwood stands at 86, making it 14% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Greenwood housing costs are 41% less than the national average, making this area an affordable place to live. Your net income can be heavily impacted by housing expenses, at times exceeding 30%. Fortunately, this area demonstrates that both homeownership and renting costs are significantly more budget-friendly than in the rest of the country. With such favorable housing affordability, Greenwood residents can earmark a more manageable portion of their income to housing.
Is Greenwood affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Greenwood, the median home price is 47.1% lower than the national average and monthly rent prices are 26.7% lower than the typical rates. Additionally, the median income levels play a role in affordability, with Greenwood boasting a median household income of $49,849, 38.7% lower than the national average.
Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Greenwood, the groceries index is 2.8% lower than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Greenwood, the utilities index is 2.2% higher than the national average.
Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Greenwood, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 0%.
The Greenwood cost of living estimates above use a normalized U.S. average of 100 as the baseline for comparison. Housing values incorporate local home price and rental information from the U.S. Census, while all other estimates are AI-assisted and modeled using expected everyday expenses, local market trends, climate, and transportation-related cost pressures. The results are intended for practical 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 | $69,711 | $5,809 | $1,626 | $2,092 |
| Renters | $37,527 | $3,127 | $876 | $1,126 |
| 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. |
| Mountville, SC | 78 | 98 | 2.4% |
| Coronaca, SC | 83 | 100 | 0.1% |
| Troy, SC | 148 | 98 | 1.8% |
| Bradley, SC | 130 | 98 | 1.8% |
| Ware Shoals, SC | 2,527 | 83 | 17.2% |
| Greenwood, SC | 23,893 | 86 | 13.6% |
| City | Population | Cost of Living Index | National Avg. |
| Bluffton, SC | 23,896 | 120 | 19.9% |
| Roseburg, OR | 23,898 | 107 | 6.9% |
| Copiague, NY | 23,901 | 131 | 31.3% |
| Saint-Lin--Laurentides, QC | 23,910 | n/a | |
| The Crossings, FL | 23,875 | 125 | 25.3% |
| Greenwood, SC | 23,893 | 86 | 13.6% |
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