Lake Murray of Richland, SC Cost Of Living
Cost Of Living In Lake Murray of Richland, SC Summary
Cost of living in Lake Murray of Richland 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 Lake Murray of Richland 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 Lake Murray of Richland is 122, with 100 being the average.
The cost of living index in Lake Murray of Richland is 1.2x higher than the national average.
Lake Murray of Richland ranks as the #92 cheapest in South Carolina out of 99.
Lake Murray of Richland ranks as the #4,541 cheapest out of 6,489 in the US.
The median home value in Lake Murray of Richland is $483,901.
The median income in Lake Murray of Richland is $118,435.
Table Of Contents
Lake Murray of Richland's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Lake Murray of Richland, SC?
According to the most recent data on the cost of living, Lake Murray of Richland has an overall cost of living index of 122, which is 1.2x higher than the national index of 100.
Compared to South Carolina, Lake Murray of Richland has a cost of living index that's 1.3x higher than South Carolina's index of 93.
The standard of living in Lake Murray of Richland ranks as #92 most affordable out of the 99 places we measured in South Carolina. By definition, that implies Lake Murray of Richland ranks as the #7 most expensive place in the Palmetto State.
For more reading on life in Lake Murray of Richland, check out:
In South Carolina
In America
Lake Murray of Richland Cost Of Living Vs. South Carolina
Six factors go into calculating the cost of living index in Lake Murray of Richland. Here is how it fairs on each of the criteria:
The Services index in Lake Murray of Richland is 96.
The Groceries index in Lake Murray of Richland is 99.
The Health index in Lake Murray of Richland is 84.
The Housing index in Lake Murray of Richland is 174.
The Transportation index in Lake Murray of Richland is 83.
The Utilities index in Lake Murray of Richland is 132.
| Living Expense | Lake Murray of Richland | South Carolina | National Average | |
|---|---|---|---|---|
| Overall | 122 | 93 | 100 | |
| Services | 96 | 102 | 100 | |
| Groceries | 99 | 97 | 100 | |
| Health | 84 | 92 | 100 | |
| Housing | 174 | 81 | 100 | |
| Transportation | 83 | 92 | 100 | |
| Utilities | 132 | 109 | 100 | |
Lake Murray of Richland, SC Housing Cost Breakdown
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 2019-2023. The key points are:
The Median Home Value in Lake Murray of Richland is $483,901.
The Median Rent in Lake Murray of Richland is $1,682.
The Median Income in Lake Murray of Richland is $118,435.
The Home Value To Income in Lake Murray of Richland is 4.1x.
The Rent To Monthly Income in Lake Murray of Richland is 0.17x.
| Statistic | Lake Murray of Richland | South Carolina | United States |
|---|---|---|---|
| Median Home Value | $483,901 | $302,294 | $303,400 |
| Median Rent | $1,682 | $1,126 | $1,348 |
| Median Income | $118,435 | $66,818 | $78,538 |
| Home Value To Income | 4.1x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.17x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Lake Murray of Richland, SC Costs By Category
Detailed Lake Murray of Richland Services Costs Vs. South Carolina
| Item | Lake Murray of Richland | South Carolina |
|---|---|---|
| Shampoo | $1.33 | $1.28 |
| Movie | $12.93 | $12.13 |
| Bowling | $24.33 | $18 |
| Haircut | $20.75 | $24.26 |
| Beauty Salon | $30.56 | $45.56 |
Detailed Lake Murray of Richland Groceries Costs Vs. South Carolina
| Item | Lake Murray of Richland | South Carolina |
|---|---|---|
| Ground Beef | $6.15 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.61 | $4.67 |
| Potatoes | $5.5 | $4.93 |
| Pizza | $10.35 | $12.09 |
| Beer | $10.53 | $10.41 |
| Toothpaste | $3.65 | $3.7 |
Detailed Lake Murray of Richland Health Costs Vs. South Carolina
| Item | Lake Murray of Richland | South Carolina |
|---|---|---|
| Optometrist | $59.0 | $125.68 |
| Doctor | $150.0 | $135.78 |
| Dentist | $78.33 | $113.29 |
Detailed Lake Murray of Richland Transportation Costs Vs. South Carolina
| Item | Lake Murray of Richland | South Carolina |
|---|---|---|
| Gasoline | $3.22 | $3.46 |
| Tire Balancing | $32.03 | $59.92 |
Detailed Lake Murray of Richland Utilities Costs Vs. South Carolina
| Item | Lake Murray of Richland | South Carolina |
|---|---|---|
| All Electricity | $290.58 | $193.99 |
| Phone | $192.75 | $192.25 |
Lake Murray Of Richland SnackAbility
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Cost Of Living In Cities Around Lake Murray of Richland
The cost of living varies in the cities and towns around Lake Murray of Richland. Here's a quick look at the cost of living in the most populous nearby places:
Lexington, SC has a cost of living index of 102, 0.8x Lake Murray of Richland.
St. Andrews, SC has a cost of living index of 89, 0.7x Lake Murray of Richland.
West Columbia, SC has a cost of living index of 95, 0.8x Lake Murray of Richland.
| City | Population | Cost Of Living | Vs. Lake Murray of Richland |
|---|---|---|---|
| Lexington, SC | 24,132 | 102 | 0.8x |
| St. Andrews, SC | 20,953 | 89 | 0.7x |
| West Columbia, SC | 17,723 | 95 | 0.8x |
| Seven Oaks, SC | 15,990 | 97 | 0.8x |
| Dentsville, SC | 15,396 | 91 | 0.7x |
| Cayce, SC | 13,718 | 96 | 0.8x |
| Oak Grove, SC | 12,031 | 97 | 0.8x |
| Irmo, SC | 11,799 | 96 | 0.8x |
| Red Bank, SC | 10,950 | 94 | 0.8x |
| Forest Acres, SC | 10,491 | 103 | 0.8x |
