Cost of Living in Charleston, SC

From beautiful homes and sites soaked in history to top-class restaurants and a buzzing entertainment scene, Charleston has it all. Whether you’re a young family looking to raise your children in or around the city, or a retiree who’s decided to live in the best city this side of South Carolina – you won’t be disappointed in Charleston.

Charleston is one of the fastest growing residential cities in the state. This could be attributed to the booming economy and thriving job market. If you’re considering moving there, you’ll need to know all the ins and outs of the cost of living in Charleston SC.

Let’s take a look.

COST OF LIVING IN CHARLESTON, SC

The overall cost of living in Charleston SC is 11% higher than the national average. The most influential factors that affect the cost of living are housing, groceries and transportation.

Cost of Housing in Charleston, SC

Charleston’s cost of housing index is 36.9% higher than the national average, at 136.9 points on the index (with the national average being 100). This puts it significantly over the South Carolina state average too, which comes in at 73.6 points.

For a single-family home, the median price is around $340,000. A condo will cost about $295,000.

Prices vary depending on which neighborhood you’re planning on living in. The popular West Ashley Plantation neighborhood, for example, will cost about $325,000 for a median single-family home. A home in the Shadowmoss neighborhood will cost you around the same. (These are considered the more affordable neighborhoods).

If you are in the market for a more high-end home, the South Of Broad neighborhood would be better suited for you. A median home will cost about $1.5 million.

Looking for something in-between those prices? A property in the Harleston Village neighborhood would be best suited, averaging at around $750,000.

Home Rentals

Apartments average at a median rental rate of $1,800 per month. If you would prefer a studio apartment, this would cost you about $915.

One-bedroom apartments tend to average at $1,081 per month, while two-bedroom apartments go for around $1,250.

Higher up on the scale, a three-bedroom apartment will set you back $1,645 per month. And a four-bedroom apartment averages at around $2,167 per month.

As with purchasing a home, rental prices also vary depending on the area in which you are considering living in. In terms of the more upscale areas, the East Side neighborhood will cost around $2,100, while the going rate in the Radcliffeborough neighborhood is around $2,300. Harlestone Village tops off the monthly rental fees at $2,400.

Cost of Groceries in Charleston, SC

Families in Charleston spend about 5% more on groceries than the national average. The average resident spends around $324 per month on groceries, while the general US state resident would pay around $300.

There are a number of more affordable grocery stores in Charleston, these include Piggly Wiggly, Aldi, Publix, Save-A-Lot, JD’s Market, Burbage’s Grocery, and Harris Teeter.

The average price of 1 liter of milk is $0.83, a loaf of fresh white bread: $2.47, and a dozen eggs is $1.88

Eating Out

Eating out in Charleston is like any other city – prices will depend on where you go. A combo meal at a fast food restaurant will cost you around $8. And a basic lunch in the business district will be about $15.

If you’re looking at a three-course meal at a mid-range restaurant, you’ll be paying around $30 for one person and $56 for two.

One of the general cost comparatives is a cappuccino. In Charleston, a regular cappuccino will cost you $4.84.

Utilities

The cost of utilities is slightly higher than the state average, coming in at 101.6 points on the cost index.

As a resident of Charleston, you should be prepared to pay about 5.3% of your monthly salary on utilities. This includes water and electricity, heating and cooling, and garbage.

For a 915-square-foot apartment, you’re looking at paying about $191 per month for utilities.

In terms of your monthly internet bill, this will cost you about $61. And mobile charges for unlimited data, voice and text costs around $40 a month.

Homeowners’ insurance is amongst the costliest of South Carolina’s 46 counties, weighing in at around $2,410 per month. And insurance as a renter will cost you in the region of $19 a month.

TRANSPORTATION

The good news is that getting around in Charleston will cost you 6% lower than the national average.

Public Transport

Local transport is reliable and affordable. Charleston’s primary public transport system is the Charleston Area Regional Transportation Authority (CARTA), which ranks among the top public transportation providers in the South-East.

A fixed-route one-way fare will cost you $2, and an express fare will be $3.50 per ride. Low-income fares are available for those who qualify, at $1.25 per ride. Seniors from the age of 55 and upwards receive a discounted fare of $1.

Disabled passengers only pay $0.75 per ride.

The average cost of a taxi in Charleston is about $7 for a base ride, and $5 charged per mile thereafter.

If you need a quick ride from Uber or Lyft, you’re looking at a base fare of $1.50 and a per-mile charge of $1.25 and $0.18 per minute for Uber. Lyft fares start at a minimum of $4, with a $1.09 base fee, with an additional service fee of $2.95. You’ll then be paying $0.99 per mile.

If you’re looking to purchase your own vehicle, a new Toyota Camry LE will cost you about $28,000. If you prefer something more flashy, a Lexus ES 350 will cost you in the range of $49,000.

Car insurance in Charleston will cost you about $1,548.

And to fill your car, you’ll be paying $1.90 per liter for gas.

HEALTHCARE

Healthcare will cost you 3% more than the national average. For your individual medical health insurance plan, you’ll be spending on average $197 per month. A single doctor’s visit, however, will cost you $113, which is slightly lower than the national average of $115 per visit.

The cost of a visit to the dentist in Charleston is on par with the national average, at $98 for a visit. A trip to the optometrist in Charleston will cost you $107.

Charleston has some excellent healthcare facilities, including Bon Secours St. Francis Hospital, Roper Hospital, East Cooper Medical Center, and the Medical University of South Carolina-University Medical Center.

EDUCATION AND CHILDCARE IN CHARLESTON, SC

Charleston has an excellent school system, from kindergarten through to tertiary education. The average pricing at a private school is around $7,100 per year for elementary school, and $7,214 per year for high school.

In the state of South Carolina, children can attend a public school at no cost. However, state law does allow districts to charge a minimal amount for enrollment and minor admin fees.

For children who will be attending a tertiary education facility, fees will be around $13,017 for South Carolina residents and $33,347 for out-of-state students.

Cost of Childcare in Charleston, SC

Charleston has no shortage of childcare facilities. There are over 150 childcare centers, and more than 80 after-school programs for children in the metro area.

The average cost for full-time daycare is between $860 and $1,000 a month. This works out to $10,392 to $12,000 per year.

Some child care centers offer tuition as well. For preschool students, at Daniel Island Academy for example, you’re looking at $14,025 for full-time annual tuition and care.

Charles Town Montessori will charge you about $11,400 for full-time daycare and tuition (for children ages 3 to 6); and Riverpointe Christian Academy charges in the region of $9,360 for full-time daycare and tuition, for children ages 3 to 4.

If you are looking at hiring a nanny, rates in Charleston are about $14.25 per hour.

LIFESTYLE AND ENTERTAINMENT

Charleston is a city rich in entertainment options, from its many historic sites, restaurants and shopping, to its exquisite scenery and lively artistic community.

In fact, Charleston has been cited as one of the top 10 cities in the country for its theatres and performance arts. If you’re heading for a night in “Broadway”, you’ll be paying around $130 for two tickets for the best seats in the house.

Charleston’s museums are an absolute must-see. To tour three of the most popular sites, including Joseph Manigault House, the Charleston Museum, and Heyward-Washington House, you’ll be paying $25 for a ticket. Children under the age of two years old are free.

Or visit plantation-turned-museum, Middleton Place, which expresses the history of nearly 3,000 slaves who worked there. General admission will cost you $26 pre-booked, or $29 at the door. Children under the age of five enter for free, and those aged 6 to 13 pay $10.

During your visit, you can interact with actors to really bring the experience to life; or take a relaxing stroll through the oldest landscaped gardens in the country.

Child-friendly activities

The South Carolina Aquarium is known as being the number one family attraction in Charleston. Tickets will cost $29.95 for an adult, and $22.95 for a child. There are 4,500 different animals for the kids to see – and they can even interact with some of them!

The Aquarium also hosts events throughout the year.

Over Halloween, for example, kids and adults can walk through the Haunted Trail. On grown-ups night, adults can enjoy the After Hours event at the Aquarium (for over-21s), where they can sip on a glass of wine while strolling through the aquarium.

ANNUAL INCOME

In order to afford the cost of living in Charleston, SC, you’ll need to earn an average of $33,117 per year. This is higher than the national average of $28,555.

For a single-family household of two adults with two children, the median earnings need to be around $52,971 per year. This isn’t too far off the national average of $53,482.

The good news is that the job market has seen significant growth, with forecasters predicting future growth over the next decade of 35.9%.

Industries that are providing significant job opportunities are healthcare, manufacturing, retail, education, software, automotive, and aircraft.

The most popular jobs in Charleston include project manager, software engineer, and operations manager. And in line with the above, the companies that rank as the most popular employers are The Boeing Company, and Medical University of South Carolina (MUSC), followed by Blackbaud, Inc., Booz, Allen, and Hamilton.

South Carolina has a very progressive income tax system, with the top income tax rate being 7%, and the bottom being 0%.

FINAL THOUGHTS

Charleston is a spectacular city with deep traditions and endless entertainment options. It is a tourism hub with many sites and attractions; it was even named the best city in the US over the past couple of decades by Travel & Leisure Magazine.

Although the cost of living may be above the national average, with the abundance of activities, historical spots, museums, nightlife, restaurants and buzzing art scene, you certainly won’t go wrong in choosing to become a resident.

Moving doesn’t have to be a stressful process, as long as you use an experienced and reliable moving company in Charleston. Give Miracle Movers of Charleston a call today to request a complimentary quote for your upcoming move.