South Carolina's cost of living index is 94 — 6.0% below the US average of 100. Compare purchasing power and equivalent salaries across states.
CoL Index
94
US avg = 100
vs. National Avg
-6.0%
Less expensive
Median Income
$54,864
South Carolina median household
Equiv. at US Avg
$58,366
Same purchasing power
| CoL Index | 94 | MIT/MERIC composite index (US avg = 100) |
| vs. National | 6.0% | Below average cost |
| Median Household Income | $54,864 | South Carolina median (2023 ACS) |
| National Purchasing Power | $58,366 | Equivalent $ at US avg CoL |
| Overall Category | Moderate | Qualitative classification |
| Population | 5,118,425 | 2020 US Census |
With a cost of living index of 94, South Carolina is 6% below the national average. Lower costs in South Carolina mean your dollar goes further. A salary of $54,864 in South Carolina provides the equivalent purchasing power of $58,366 in a state at the national average.
Housing is typically the largest driver of cost of living differences between states.South Carolina's median home price of $295,000 is near the national median of approximately $310,000. Other factors include state income tax (6.5% top rate in South Carolina), sales tax (6.00% state rate), and local property tax rates (0.57%).
