Cost of Living in Tega Cay, SC

With a cost of living index of 114, Tega Cay, SC is somewhat more expensive than average. Living here is 14% more expensive than the national average and 32% above the South Carolina state average of 82. Tega Cay is a smaller community of 13,267 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Tega Cay's cost of living. The median monthly rent is $1,307 (1% below the US median of $1,319), and the median home value sits at $494,500 (62% above the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Tega Cay is $141,037, which is 88% higher than the national median of $75,149. Residents spend roughly 11% 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 more than offset the higher cost of living.

Climate is another factor for anyone considering a move to Tega Cay. 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.