Cost of living in Cheraw research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Cheraw is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in South Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Cheraw is 90, with 100 being the average.
The cost of living index in Cheraw is 0.9x lower than the national average.
Cheraw ranks as the #33 cheapest in South Carolina out of 99.
Cheraw ranks as the #1,633 cheapest out of 6,412 in the US.
The median home value in Cheraw is $121,300.
The median income in Cheraw is $29,276.
According to the most recent data on the cost of living, Cheraw has an overall cost of living index of 90, which is 0.9x lower than the national index of 100.
Compared to South Carolina, Cheraw has a cost of living index that's 0.9x lower than South Carolina's index of 96.
The standard of living in Cheraw ranks as #33 most affordable out of the 99 places we measured in South Carolina. By definition, that implies Cheraw ranks as the #66 most expensive place in the Palmetto State.
For more reading on life in Cheraw, check out:
Six factors go into calculating the cost of living index in Cheraw. Here is how it fairs on each of the criteria:
The Services index in Cheraw is 107.
The Groceries index in Cheraw is 103.
The Health index in Cheraw is 102.
The Housing index in Cheraw is 58.
The Transportation index in Cheraw is 104.
The Utilities index in Cheraw is 98.
|Living Expense||Cheraw||South Carolina||National Average|
Housing swings affordability the most between places in South Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Cheraw is $121,300.
The Median Rent in Cheraw is $779.
The Median Income in Cheraw is $29,276.
The Home Value To Income in Cheraw is 4.1x.
The Rent To Monthly Income in Cheraw is 0.32x.
|Statistic||Cheraw||South Carolina||United States|
|Median Home Value||$121,300||$181,800||$244,900|
|Home Value To Income||4.1x||3.1x||3.5x|
|Rent To Monthly Income||0.32x||0.2x||0.2x|
The cost of living varies in the cities and towns around Cheraw. Here's a quick look at the cost of living in the most populous nearby places:
Florence, SC has a cost of living index of 92, 1.0x Cheraw.
Indian Trail, NC has a cost of living index of 103, 1.1x Cheraw.
Monroe, NC has a cost of living index of 97, 1.1x Cheraw.
|City||Population||Cost Of Living||Vs. Cheraw|
|Indian Trail, NC||39,603||103||1.1x|
|Southern Pines, NC||15,156||103||1.1x|
|Wesley Chapel, NC||8,661||122||1.4x|