Cost of Living in Great Falls, SC

With a cost of living index of 64, Great Falls, SC is one of the most affordable cities in the country. Living here is 36% cheaper than the national average and 18% below the South Carolina state average of 82. Great Falls is a small community of 1,741 residents.

Housing costs are the biggest factor in Great Falls'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 $59,400 (81% below the national median of $304,900). At current prices, the median home costs roughly 1.9x the median household income — well within traditional affordability guidelines.

The median household income in Great Falls is $30,475, which is 59% lower than the national median of $75,149. Residents spend roughly 32% 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 Great Falls. The area sees an average annual temperature of 61°F, with summers averaging 78°F and winters around 44°F. Annual rainfall totals 42.4 inches spread over roughly 125 days.

Everyday prices in the Charlotte-Concord-Gastonia, NC-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.