| Index | Parker | South Carolina | National |
| Cost of living | 87 | 94 | 100 |
| Groceries | 101 | 99 | 100 |
| Health care | 99 | 98 | 100 |
| Housing | 57 | 81 | 100 |
| Transportation | 99 | 99 | 100 |
| Utilities | 104 | 101 | 100 |
| Lifestyle & Entertainment | 101 | 98 | 100 |
| Household Items | 98 | 99 | 100 |
| Education & Childcare | 98 | 98 | 100 |
Knowing the cost of living in Parker 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 Parker stands at 87, marking it 13% lower than the national average.
Parker housing costs are 42.9% 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, Parker residents can earmark a more manageable portion of their income to housing.
Is Parker 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 Parker is 55.2% lower than the national average, while the average monthly rent prices are 14.4% lower than average. The affordability of any location can also be influenced by median income levels. Parker has a median household income of $55,444, which is 31.8% lower than the national average.
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 Parker, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Parker, the utilities index stands at 4.4% higher than the national average.
The Parker cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for 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 | $57,193 | $4,766 | $1,334 | $1,716 |
| Renters | $54,664 | $4,555 | $1,275 | $1,640 |
| 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. |
| Tigerville, SC | 2,094 | 97 | 2.5% |
| Slater-Marietta, SC | 2,150 | 85 | 15.0% |
| Judson, SC | 1,459 | 87 | 13.3% |
| West Pelzer, SC | 1,083 | 89 | 11.3% |
| Liberty, SC | 3,240 | 90 | 9.7% |
| Parker, SC | 12,654 | 87 | 12.8% |
| City | Population | Cost of Living Index | National Avg. |
| Patchogue, NY | 12,654 | 131 | 31.1% |
| Lincolnwood, IL | 12,655 | 136 | 35.7% |
| Saddlebrooke, AZ | 12,650 | 132 | 32.0% |
| Valencia West, AZ | 12,659 | 105 | 5.0% |
| Palmer Town, MA | 12,662 | 115 | 15.0% |
| Parker, SC | 12,654 | 87 | 12.8% |
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