COLUMBIA, S.C.
– Living in South Carolina may seem more affordable than in places like California or New York, but a new report shows it still requires a significant income to live comfortably in the Palmetto State in 2025.
A recent analysis by personal finance site
GoBankingRates
estimates that residents in South Carolina need an average of
$74,112 annually
to maintain a comfortable lifestyle this year.
Utilities Drive Up Household Expenses
The report notes that
utilities make up the largest share of the cost burden
in South Carolina, surpassing housing, groceries, and transportation. Even though the state ranks near the middle in terms of affordability—coming in as the
26th cheapest
in the nation—the cost pressures are real for many families.
Neighboring
North Carolina
was ranked slightly more expensive, landing in 28th place with an average annual cost of living at
$75,580
.
How South Carolina Compares Nationwide
To compile its rankings, GoBankingRates pulled data from sources such as the
Bureau of Labor Statistics
and the
Missouri Economic Research and Information Center
, looking at six categories:
- Housing
- Utilities
- Groceries
- Healthcare
- Transportation
- Miscellaneous expenses
South Carolina’s $74,112 figure reflects combined averages across these areas.
For comparison,
Hawaii
topped the list as the most expensive state to live in, requiring a staggering
$144,436
per year. Meanwhile,
West Virginia
ranked as the cheapest, with a cost of
$64,992
annually.
Top 5 Most Expensive States to Live in (2025)
Top 5 Most Affordable States to Live in (2025)
Living Costs Climb Amid Inflation
The findings come as Americans across the country continue grappling with inflation. According to the
Bureau of Labor Statistics
, the
U.S. inflation rate
for all items rose
2.7% over the last 12 months
ending in June 2025. This has had a direct impact on everything from grocery prices to utility bills.
While South Carolina may offer relative affordability compared to other regions, experts say rising costs mean residents still need to budget carefully to meet the baseline for financial stability.
How are you coping with rising costs in South Carolina? Share your thoughts and tips at
SaludaStandard-Sentinel.com
