Cost of Living in Cheraw, SC

With a cost of living index of 66, Cheraw, SC is one of the most affordable cities in the country. Living here is 34% cheaper than the national average and 15% below the South Carolina state average of 82. Cheraw is a smaller community of 5,024 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Cheraw's cost of living. The median monthly rent is $806 (39% below the US median of $1,319), and the median home value sits at $113,400 (63% below the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Cheraw is $27,275, which is 64% lower than the national median of $75,149. Residents spend roughly 35% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Cheraw. The area sees an average annual temperature of 63.4°F, with summers averaging 80°F and winters around 46°F. Annual rainfall totals 40.2 inches spread over roughly 123 days.

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.