Cost of Living in Ravenel, SC

With a cost of living index of 88, Ravenel, SC is a very affordable place to live. Living here is 12% cheaper than the national average and 6% above the South Carolina state average of 82. Ravenel is a small community of 2,594 residents.

Housing costs are the biggest factor in Ravenel's cost of living. The median monthly rent is $1,104 (16% below the US median of $1,319), and the median home value sits at $230,100 (25% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Ravenel is $72,365, which is 4% lower than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Ravenel. The area sees an average annual temperature of 66.5°F, with summers averaging 81°F and winters around 51°F. Annual rainfall totals 52.5 inches spread over roughly 114 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.