Greenville, SC Spotlight: Cost of Living
The Upstate of South Carolina has much to offer. It’s within a few hours of both beaches and mountains, home to more than 240 international companies, and enjoys a consistently lower unemployment rate than the state and national average. For these reasons—not to mention its growing downtown and exceptional quality of life—Greenville, SC, is consistently ranked as one of the country’s best places to work and live.
So what does that mean for the area’s cost of living?
Despite all that Greenville, SC, has to offer, it may be surprising to learn that the area also boasts a relatively low cost of living. The Council for Community and Economic Research (C2ER) produces a report each year called the Cost of Living Index (COLI). It is considered to be the most trusted source for comparing the cost of living in cities around the United States. COLI data is recognized by the U.S. Census Bureau, US Bureau of Labor Statistics, CNN Money, and the President’s Council of Economic Advisors.
An index score of below 100 indicates the area is less expensive than the average across the country, while a score of over 100 means the area is more expensive than the average.
In 2014, Greenville’s cost of living index was 94.6, which was significantly lower than that of other cities nearby. Atlanta, Georgia, for example, was 99.6, while Charleston, SC, was 100.8 and Asheville, NC, was 104.8.*
Additionally, South Carolina has one of the lowest median property tax rates in the United States, with only five states collecting a lower median property tax than South Carolina. Greenville, SC, offers a range of desirable neighborhoods, with homes ranging from the 1900s to new construction. Within a mile of Downtown Greenville, you can find yourself in the tree-lined streets of North Main and Augusta Road. Other areas offer a more suburban lifestyle. While some of these areas can be more expensive, the median value of a home in South Carolina is $137,400, and the median property tax is $689.00 per year.
To take advantage of Greenville, SC’s incredible lifestyle, low cost of living and exceptional property value, contact me today.
*Source: 2014 Quarterly Cost of Living Index (www.coli.org), The Council for Community and Economic Research (C2ER), www.C2ER.org