Cost of Living in Gaffney, SC

With a cost of living index of 69, Gaffney, SC is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 13% below the South Carolina state average of 82. Gaffney is a smaller community of 12,612 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Gaffney's cost of living. The median monthly rent is $822 (38% below the US median of $1,319), and the median home value sits at $141,100 (54% below the national median of $304,900). At current prices, the median home costs roughly 3.4x the median household income — a moderately affordable ratio by today's standards.

The median household income in Gaffney is $41,214, which is 45% lower than the national median of $75,149. Residents spend roughly 24% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. 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 Gaffney. The area sees an average annual temperature of 62.1°F, with summers averaging 79°F and winters around 45°F. Annual rainfall totals 43.3 inches spread over roughly 124 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.