A+
5%
Overall NAT. AVG.
8%
Goods & Services NAT. AVG.
6%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Aiken South Carolina National
Cost of living9593100
Goods & Services92100100
Groceries9699100
Health care8294100
Housing10680100
Transportation8991100
Utilities84107100

An Overview of Cost of Living in Aiken, SC

Are you thinking about relocating, but curious about the potential cost of living in Aiken? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Aiken stands at 95, making it 5% lower than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

The cost of living in Aiken is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

What Do Locals Say About the Cost of Living in Aiken?

The real experts on a city are its residents. That's why we reached out to 5 locals to get their views on the cost of living in Aiken. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 60% found it budget-friendly with decreasing prices, while 40% said it's simply not affordable as prices have continued to rise.

Is Aiken Affordable?

Is Aiken an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Aiken is 7.8% higher than the national average, while the average monthly rent prices are 2.3% higher than average. The affordability of any location can also be influenced by median income levels. Aiken has a median household income of $56,202, which is 1.6% higher than the national average.

What Factors can Influence the Cost of Living in Aiken?

Urbanization: Larger, urban centers, known for their wealth of amenities and strong employment prospects, often exhibit an elevated cost of living, primarily attributable to the heightened demand for services and residential relocation. Consequently, this scenario leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural areas or regions characterized by diminished demand typically provide a more limited array of amenities and experience slower job market growth, resulting in a more affordable cost of living.

Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday goods and services, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Aiken, the standard sales tax rate starts at 6%, and the income tax rates commence at 0%.

Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.

Where is the Data From?

The Aiken cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Aiken is 2% higher than the South Carolina average
  • The cost of living in Aiken is 5% lower than the national average
  • Aiken housing is 6% higher than the national average
  • South Carolina general sales tax is 18% higher than the national average
  • South Carolina state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Aiken

See all the best places to live around Aiken

Compare Aiken, SC Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$78,121$6,510$1,823$2,344
      Renters$31,846$2,654$743$955
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Aiken, SC, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Aiken homeowners, is $78,121. This would allow for a maximum of $1,823 per month to be spent on housing costs. For renters, the median monthly income is $31,846 which would result in a maximum of $743 to be spent on rental costs.

      South Carolina Sales Tax

      State General Sales Tax With Max Surtax
      South Carolina 6% 9%

      South Carolina Income Tax

      State Income Tax (Low) Income Tax (High)
      South Carolina 0% 6.5%

      Goods & Services

      Item Aiken National avg. Difference
      Haircut $26.67$24.269.9%
      Beauty Salon $39.50$45.5613.3%
      Toothpaste $3.65$3.701.3%
      Shampoo $1.13$1.2812.0%
      Movie $15.61$12.1328.7%
      Bowling $20.92$18.0016.2%

      Groceries

      Item Aiken National avg. Difference
      Ground Beef $5.52$5.845.4%
      Fried Chicken $1.67$1.576.2%
      Milk $4.53$4.673.0%
      Potatoes $5.41$4.939.6%
      Pizza $13.16$12.098.9%
      Beer $10.06$10.413.4%

      Health Care

      Item Aiken National avg. Difference
      Optometrist $69.88$125.6844.4%
      Doctor $179.92$135.7832.5%
      Dentist $199.00$113.2975.7%
      Ibuprofen $10.12$10.655.0%
      Lipitor $496.43$468.605.9%

      Housing

      Item Aiken National avg. Difference
      Home Price $199,100.00$184,700.007.8%
      Avg. Mortgage Payment $1,929.91$2,346.6917.8%
      Apartment Rent $971.00$949.002.3%

      Transportation

      Item Aiken National avg. Difference
      Gasoline $3.24$3.466.3%
      Tire Balancing $52.38$59.9212.6%

      Utilities

      Item Aiken National avg. Difference
      All Electricity $149.68$193.9922.8%
      Phone $189.47$192.251.4%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Windsor, SC262919.5%
      Langley, SC2,1797524.9%
      Warrenville, SC7407623.9%
      Gloverville, SC3,0087821.8%
      New Ellenton, SC2,1598019.7%
      Aiken, SC31,428954.8%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Fairbanks, AK31,42713232.3%
      Saint-Constant, QC31,461n/a 
      El Paso de Robles (Paso Robles), CA31,48014848.5%
      Shawnee, OK31,3618416.0%
      Redmond, OR31,35911515.1%
      Aiken, SC31,428954.8%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.