Cost of Living in Charleston, SC [2024]

The sparkling port city of Charleston is rich with southern charm, gorgeous architecture, and renowned food and attractions. Charleston was originally called Charles Town after King Charles II when founded in 1670. Today, the city is highly diverse with nightlife, suburban island life, stunning backdrops, and historical landmarks.

Newcomers move to Charleston for its high quality of living at a reasonable price, especially compared to other east coast metropolises. With so many attractions doused in southern beauty, it's easy to see why so many people call Charleston one of the best places to live in South Carolina.

The cost of living is rising, but is still reasonable, especially when compared to Miami or Washington DC. We took all the guesswork out of figuring out if moving to Charleston and exploring its neighborhoods is right for you.

Cost of Living in Charleston

What Is the Cost of Living in Charleston?

Charleston is the most populous city in South Carolina and still growing, along with its cost of living. The average cost of living in Charleston is a little over 12% higher than the national average.

Where Is the Cost of Living Highest in Charleston?

One of the most expensive areas of Charleston is Cannonborough - Elliottborough. A one-bedroom costs around $3,103 and a two-bedroom is closing in at $5,000. Whether or not you want to live near amenities or waterfront views will also drive up your cost of living in Charleston.

Where Is the Cost of Living Lowest in Charleston?

There are still areas that are relatively affordable in Charleston. One of the least expensive areas to live in Charleston is Caroline. A one bedroom is less than $1,800 and a two-bedroom is less than $3,000.

How Much Is Rent in Charleston?

According to the latest data in July 2024, the average rent for a one bedroom apartment in Charleston sits at $2,282 a month. If you’re thinking about moving to cities near Charleston, get acquainted with the average rents to help stick to your budget.

How Much Is a 1-Bedroom Apartment in Charleston?

If you’re looking to move to Charleston and enjoy what the South has to offer, you’ll spend an average of $2,822 a month for a one-bedroom apartment. Like much of the country, our data shows rents in Charleston are slightly decreasing.

How Much Is a 2-Bedroom Apartment in Charleston?

If you’re renting a two-bedroom apartment in Charleston, you’ll spend an average of $2,282. This figure looks at data from July, 2024.

What Salary Do You Need to Live in Charleston?

It can sometimes feel daunting to know how much you should earn to comfortably live in Charleston. We recommend following the 30% rule. that stipulates you shouldn’t pay more than 30% of their pre-tax income toward housing costs.

Let’s look at the rent for a one-bedroom apartment in Charleston at $2,282. This means that an individual should make at least $91,280 annually, $7,607 a month a month, or around $43.88 per hour to live comfortably in Charleston.

You may need to cut costs further to make Charleston work for you. Consider looking at a studio apartment or find a great roommate to help you save big on an awesome apartment.

Before you settle on your budget, consider MIT’s “living wage” data. Charleston’s living wage looks into different factors, including the minimum amount you need to live in the area. Their data shows you need at least $24.35 an hour or $50,648 a year for one adult. A family of two adults with a child would need $37.54 an hour, or a salary of $74,179.

The living wage is a bare minimum to live in Charleston. You’ll need more income to handle student loans, vacations, saving up for an emergency fund, and investments. A side hustle may be a necessity to get by while looking for a higher paying job in Charleston.

The job market in Charleston is steady and depends on the industry you work in. You can look to grow a career at the biggest employers in Charleston—Joint Base Charleston or the Medical University of South Carolina. Good news, the U.S. Census Bureau estimates the household income in Charleston is $83,891, which is above national average of $74,580.

How Much Are Utilities in Charleston?

Charleston's utilities are higher than many other cities, even those with a higher cost of living. A basic utility bill, including electricity, heating, cooling, water, and garbage for a 915 sq ft apartment, averages $257.02 per month in Charleston.

However, you will likely need to budget beyond the average utility bill for Internet (60 Mbps or More, Unlimited Data, Cable/ADSL). In Charleston, having Internet will increase the total monthly cost of utilities by approximately $65.50, totaling $322.52 a month. You can expect a utility bill spike on those hot, humid summer days when you live in Charleston.

How Much Is Child Care in Charleston?

If you have children or want them in the near future, you’ll spend a significant amount of your budget on childcare. MIT’s latest data shows you’ll spend around $9,747 for the annual cost of one child at daycare in Charleston. For two children, you’ll spend $18,637.

You may spend more in exclusive neighborhoods or anywhere that’s experiencing a childcare shortage. Looking for creative solutions like nanny-shares or swapping flexible work scheduling with your partner can help reduce costs and leave more wiggle room in your budget.

How Much Is Transportation in Charleston?

According to the MIT Living Wage Calculator, single adults should expect to spend $10,100 on transportation annually. A family with two full-time employed adults and a child will pay an average of $14,723 for annual transportation.

If you want to rely less on your car and ride shares, Charleston's public transportation system can get you to work and around the city. Charleston Area Regional Transportation Authority (CARTA) Park and Ride, shuttle, and buses. Trips start at $3.50 for a single-ride and $88 for a 31-day pass.

How Much Are Groceries in Charleston?

Food can take up a sizable portion of your budget and cost of living in Charleston. MIT’s research shows that a single full-time employed adult cooking meals at home and making their own snacks spends approximately $4,788 per year on food. A family with two adults and a child will spend $10,927 a year.

Charleston's iconic dishes of shrimp and grits, fried green tomatoes, and cornbread are must-tries for foodies. If you want to sample the eclectic and mouth-watering dishes Charleston has to offer, you'll spend an average of $25 on a meal at an inexpensive restaurant without appetizers and alcohol.

Moving to The Holy City is cost-effective without compromising on incredible food and urban amenities. Indulging in dinner for two people at a mid-range restaurant will cost you $115 on average in Charleston.

Charleston Fitness & Entertainment

If you enjoy getting fit at the gym and taking classes, you'll need to budget for another $104.44 for monthly membership fees. Looking for an apartment with an on-site gym or deciding to walk and bike more can lower your costs.

Want to hit the cinema after the gym? If so, you'll need to pay about $17 per ticket, excluding popcorn, drinks, and other snacks.

Find Your Next Apartment in Charleston

Now that you're armed with everything you need to know about the cost of living in South Carolina, you can start your apartment hunt with this quiz! Or, if you want to save money or find a more affordable neighborhood, check out our round-up of cheap apartments in Charleston.

FAQs: What to Know About the Cost of Living in Charleston 2024

How much money do you need to live comfortably in Charleston?

Following the 30% rule, if you rent a one-bedroom apartment for $2,282 in Charleston, you should aim for a salary of $91,280 a year, $7,607 a month, or $43.88 per hour. This figure reflects only spending 30% of your income on rent. You can also look at the MIT data’s living wage of $24.35 an hour, which is the bare minimum you need to live in Charleston with no extras, savings, or debt repayments.

Where is the most affordable place to live in Charleston?

For more affordable options in Charleston, look into Caroline, where the average rent for a one-bedroom apartment is under $2,000. If you want a two-bedroom apartment, you'll spend around $3,000.

What is the average electric bill in Charleston?

Charleston's average electric bill is around $257.02, but it can fluctuate with the seasons, especially in summer months. To better manage your expenses, check out our tips on figuring out your utility costs and how to reduce them.