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.
An overview of the general cost of living index for Laurens, SC is displayed above for your reference. Residents in Laurens, SC enjoy a cost of living index of 86. This index is 11% lower than the South Carolina average, and 14% lower than the national average. The following categories are used when determining the cost of living index for any given city: health care (5%), transportation (9%), utilities (10%), groceries (13%), housing (30%), and goods/services (33%). Clearly, housing and goods/services make up the majority of the formula for calculating the cost of living index. Because of this, the general cost of living for any given area can be estimated by looking at the cost of everyday goods in that area. For those living in Laurens, SC, the average cost of goods and services is 2% lower than it is in South Carolina, and it is 3% higher than the national average.
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The cost of living in Laurens is 11% lower than the South Carolina average.
The cost of living in Laurens is 14% lower than the national average.
The cost of housing in Laurens is 50% 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.
Compare Laurens, SC Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
The salary calculator allows you to compare how much your current salary in Laurens, 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 Laurens, SC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Laurens, 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
Max Budget (28% DTI)
Max Budget (36% DTI)
If you want to find a good determining factor for the cost of living and the general affordability of housing in Laurens, 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 Laurens, SC, the median monthly income is $44,086 for those who own their own homes. Under the standard rule, that income level would allow for $1,029 to be budgeted for housing expenses each month, at the most. Renters, on the other hand, earn about $21,956, per the median income in the area. That would allow for renters to spend up to $512 on monthly rental expenses.
South Carolina Sales Tax
General Sales Tax
With Max Surtax
South Carolina Income Tax
Income Tax (Low)
Income Tax (High)
When assessing the complete cost of living in Laurens, SC, the South Carolina income tax and the South Carolina sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The South Carolina maximum surtax is 9%, and the South Carolina sales tax is 6%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 0% to 7% in South Carolina.
Goods & Services
Avg. Mortgage Payment
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.