Socastee, SC Cost Of Living
Cost Of Living In Socastee, SC Summary
Cost of living in Socastee 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 Socastee 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 Socastee is 96, with 100 being the average.
The cost of living index in Socastee is 1.0x lower than the national average.
Socastee ranks as the #49 cheapest in South Carolina out of 99.
Socastee ranks as the #2,104 cheapest out of 6,489 in the US.
The median home value in Socastee is $278,667.
The median income in Socastee is $59,826.
Table Of Contents
Socastee's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Socastee, SC?
According to the most recent data on the cost of living, Socastee has an overall cost of living index of 96, which is 1.0x lower than the national index of 100.
Compared to South Carolina, Socastee has a cost of living index that's 1.0x higher than South Carolina's index of 93.
The standard of living in Socastee ranks as #49 most affordable out of the 99 places we measured in South Carolina. By definition, that implies Socastee ranks as the #50 most expensive place in the Palmetto State.
For more reading on life in Socastee, check out:
In South Carolina
In America
Socastee Cost Of Living Vs. South Carolina
Six factors go into calculating the cost of living index in Socastee. Here is how it fairs on each of the criteria:
The Services index in Socastee is 96.
The Groceries index in Socastee is 102.
The Health index in Socastee is 90.
The Housing index in Socastee is 97.
The Transportation index in Socastee is 90.
The Utilities index in Socastee is 119.
| Living Expense | Socastee | South Carolina | National Average | |
|---|---|---|---|---|
| Overall | 96 | 93 | 100 | |
| Services | 96 | 102 | 100 | |
| Groceries | 102 | 97 | 100 | |
| Health | 90 | 92 | 100 | |
| Housing | 97 | 81 | 100 | |
| Transportation | 90 | 92 | 100 | |
| Utilities | 119 | 109 | 100 | |
Socastee, 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 Socastee is $278,667.
The Median Rent in Socastee is $1,244.
The Median Income in Socastee is $59,826.
The Home Value To Income in Socastee is 4.7x.
The Rent To Monthly Income in Socastee is 0.25x.
| Statistic | Socastee | South Carolina | United States |
|---|---|---|---|
| Median Home Value | $278,667 | $302,294 | $303,400 |
| Median Rent | $1,244 | $1,126 | $1,348 |
| Median Income | $59,826 | $66,818 | $78,538 |
| Home Value To Income | 4.7x | 4.5x | 3.9x |
| Rent To Monthly Income | 0.25x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Socastee, SC Costs By Category
Detailed Socastee Services Costs Vs. South Carolina
| Item | Socastee | South Carolina |
|---|---|---|
| Shampoo | $1.38 | $1.28 |
| Movie | $11.3 | $12.13 |
| Bowling | $19.43 | $18 |
| Haircut | $26.38 | $24.26 |
| Beauty Salon | $56.15 | $45.56 |
Detailed Socastee Groceries Costs Vs. South Carolina
| Item | Socastee | South Carolina |
|---|---|---|
| Ground Beef | $6.22 | $5.84 |
| Fried Chicken | $1.67 | $1.57 |
| Milk | $4.59 | $4.67 |
| Potatoes | $5.51 | $4.93 |
| Pizza | $10.83 | $12.09 |
| Beer | $10.61 | $10.41 |
| Toothpaste | $3.77 | $3.7 |
Detailed Socastee Health Costs Vs. South Carolina
| Item | Socastee | South Carolina |
|---|---|---|
| Optometrist | $78.1 | $125.68 |
| Doctor | $137.5 | $135.78 |
| Dentist | $97.17 | $113.29 |
Detailed Socastee Transportation Costs Vs. South Carolina
| Item | Socastee | South Carolina |
|---|---|---|
| Gasoline | $3.18 | $3.46 |
| Tire Balancing | $46.64 | $59.92 |
Detailed Socastee Utilities Costs Vs. South Carolina
| Item | Socastee | South Carolina |
|---|---|---|
| All Electricity | $258.5 | $193.99 |
| Phone | $194.25 | $192.25 |
Socastee SnackAbility
/10
Cost Of Living In Cities Around Socastee
The cost of living varies in the cities and towns around Socastee. Here's a quick look at the cost of living in the most populous nearby places:
Myrtle Beach, SC has a cost of living index of 107, 1.1x Socastee.
Conway, SC has a cost of living index of 97, 1.0x Socastee.
North Myrtle Beach, SC has a cost of living index of 110, 1.1x Socastee.
| City | Population | Cost Of Living | Vs. Socastee |
|---|---|---|---|
| Myrtle Beach, SC | 37,214 | 107 | 1.1x |
| Conway, SC | 26,082 | 97 | 1.0x |
| North Myrtle Beach, SC | 19,343 | 110 | 1.1x |
| Red Hill, SC | 16,480 | 101 | 1.1x |
| Murrells Inlet, SC | 10,087 | 111 | 1.2x |
| Forestbrook, SC | 7,450 | 105 | 1.1x |
