Cost of Living in Charleston, SC

With a cost of living index of 123, Charleston, SC is a notably expensive place to live. Living here is 23% more expensive than the national average and 41% above the South Carolina state average of 82. As a major city with a population of 152,014, Charleston offers a wide range of housing options, employment opportunities, and urban amenities.

Housing costs are the biggest factor in Charleston's cost of living. The median monthly rent is $1,632 (24% above the US median of $1,319), and the median home value sits at $469,100 (54% above the national median of $304,900). At current prices, the median home costs roughly 5.2x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Charleston is $90,038, which is 20% higher than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Charleston. The area sees an average annual temperature of 67.2°F, with summers averaging 81°F and winters around 53°F. Annual rainfall totals 44.3 inches spread over roughly 102 days. The mild climate is a draw for many residents and keeps utility costs moderate year-round.

Everyday prices in the Charleston-North Charleston, SC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.