Charleston, SC is a popular city located in the southeastern part of the United States. The city is known for its rich history, beautiful architecture, and stunning beaches. However, when it comes to the cost of living in Charleston, there are some factors that you need to consider before making a decision to move to the area. In this article, we will discuss the cost of living in Charleston, including housing, transportation, food, healthcare, entertainment, taxes, and other expenses.
What Is The Cost Of Living In Charleston, SC?
Housing
Housing is one of the most significant expenses for people living in Charleston, SC. The cost of housing in the city has been rising over the years due to the influx of new residents and the limited supply of housing. According to Zillow, the median home value in Charleston is $438,000, while the median rent price is $1,986 per month. The cost of housing in Charleston varies depending on the neighborhood, size, and age of the property.
Some of the most expensive neighborhoods in Charleston include South of Broad, Ansonborough, and French Quarter, where the cost of housing can reach up to $1.5 million. On the other hand, some of the more affordable neighborhoods in the city include North Charleston, West Ashley, and James Island, where the cost of housing is lower, and you can find apartments and houses for rent at a more reasonable price.
Transportation
Transportation is another expense that you need to consider when living in Charleston. The city has a good public transportation system, including buses and trolleys, which can be an affordable way to get around the city. The cost of a one-way bus fare is $2, while a one-way trolley fare is $1. However, if you prefer to drive, you will need to consider the cost of gas, car insurance, and maintenance. The average cost of gas in Charleston is around $2.50 per gallon, which is lower than the national average.
Food
When it comes to food, Charleston has a diverse range of options, including restaurants, cafes, and bars. The city is known for its seafood, Lowcountry cuisine, and Southern-style dishes. The cost of food in Charleston varies depending on the type of cuisine and the restaurant’s location. On average, a meal at an inexpensive restaurant will cost you around $15, while a meal at a mid-range restaurant will cost you around $30. If you prefer to cook at home, the average cost of groceries for one person is around $300 per month.
Healthcare
Charleston has a good healthcare system, with several hospitals and medical centers located in the city. The cost of healthcare in Charleston varies depending on the type of medical service and the healthcare provider’s location. On average, the cost of a doctor’s visit in Charleston is around $100, while the cost of a dentist’s visit is around $150. The city also has several health insurance providers, such as Blue Cross Blue Shield, Aetna, and United Healthcare, which offer different plans and coverage options.
Entertainment
Charleston is known for its vibrant nightlife and entertainment scene. The city has several bars, clubs, and theaters where you can enjoy music, movies, and other forms of entertainment. The cost of entertainment in Charleston varies depending on the type of activity and the venue’s location. On average, the cost of a movie ticket in Charleston is around $10, while the cost of a concert ticket is around $50. The city also hosts several events and festivals throughout the year, such as the Charleston Wine and Food Festival, the Charleston Fashion Week, and the Spoleto Festival USA.
Taxes
Taxes are another expense that you need to consider when living in Charleston. The city has a state income tax rate of 7%, which is higher than the national average. However, the city does not have a local income tax or sales tax, which can help offset some of the costs. The property tax rate in Charleston is 0.57%, which is lower than the national average. If you own a home in Charleston, you can qualify for a homestead exemption, which can reduce your property tax bill by up to $50,000.
Other Expenses
In addition to housing, transportation, food, healthcare, entertainment, and taxes, there are other expenses that you need to consider when living in Charleston. These expenses include:
Utilities: The average cost of utilities, including electricity, water, and gas, for a 915 square foot apartment is around $130 per month.
- Education: Charleston has several schools and colleges, both public and private. The cost of education varies depending on the level of education and the school’s location. On average, the cost of tuition and fees at a public college in South Carolina is around $12,000 per year, while the cost of tuition and fees at a private college is around $30,000 per year.
- Childcare: If you have children, you will need to consider the cost of childcare. The average cost of childcare in Charleston is around $1,000 per month.
- Insurance: You will also need to consider the cost of insurance, including health insurance, car insurance, and home insurance. The cost of insurance varies depending on the provider, the level of coverage, and your personal circumstances.
Conclusion On What Is The Cost Of Living in Charleston
The cost of living in Charleston, SC can vary depending on your lifestyle, income, and the neighborhood you choose to live in. While housing and transportation are significant expenses, the city offers a range of entertainment and dining options. If you are considering moving to Charleston, it is important to do your research and budget accordingly. Overall, Charleston is a beautiful and vibrant city that offers a high quality of life, but it is important to consider the cost of living before making a decision to move.
Besides the cost of living in Charleston, you need to consider choosing an affordable moving company in Charleston, SC. You need to be careful during the research process as a moving company can be the key to a successful relocation.