A+
9%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
27%
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 Berea South Carolina National
Cost of living9193100
Goods & Services102100100
Groceries9899100
Health care10094100
Housing7380100
Transportation9091100
Utilities92107100

An Overview of Cost of Living in Berea, SC

The cost of living in Berea affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Berea is 91, which is 9% lower than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

In Berea, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Berea will resemble that of an average city, contributing to a manageable cost of living.

Is Berea Affordable?

Is Berea affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Berea, for instance, where the median home price falls 32.8% lower than the national average, and monthly rent rates are 12.1% lower than usual. Additionally, median income levels contribute to the equation, with Berea flaunting a median household income of $37,186, 32.8% lower than the national norm.

What Factors can Influence the Cost of Living in Berea?

Housing: A sought-after location with high housing demand often leads to increased property values and rental rates, which can significantly inflate the overall cost of living. Conversely, areas with low housing demand, particularly in less desirable locales, tend to experience the opposite effect, causing prices to drop and contributing to a more affordable cost of living. In Berea, the housing index stands at 26.6% lower than the national average.

Groceries: Over the past 2-3 years, grocery expenses have experienced substantial upward trends. In certain markets, food prices have surged by over 20% during this period, while others have witnessed more modest increases. These fluctuations in food costs can wield significant influence over the overall cost of living in a given region. In Berea, the groceries index is 1.7% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Where is the Data From?

The cost of living data in Berea displayed above is sourced from the C2ER cost of living index, which serves as a practical tool for comparing living expenses across urban areas. Published on a quarterly basis, this index aggregates data from over 300 independent researchers, encompassing more than 60 goods and services, in 6 different categories. The weightings assigned to cost differences rely on government survey data that tracks the spending habits of professional and executive households. It's worth noting that the C2ER index excludes data on sales or income tax rates, while AreaVibes integrates tax rates into the overall cost of living evaluation for each region.

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Cost Of Living Quick Facts

  • The cost of living in Berea is 3% lower than the South Carolina average
  • The cost of living in Berea is 9% lower than the national average
  • Berea housing is 27% lower 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 Berea

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Compare Berea, 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$50,496$4,208$1,178$1,515
      Renters$29,098$2,425$679$873
      The affordability of the housing market in Berea, SC as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Berea homeowners, the median income is $50,496. This indicates that a monthly maximum of $1,178 should be spent by homeowners on all housing related costs. Renters have a median income of $29,098. This indicates that renters would have a maximum of $679 for their rent related monthly 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 Berea National avg. Difference
      Haircut $25.74$24.266.1%
      Beauty Salon $51.07$45.5612.1%
      Toothpaste $3.61$3.702.4%
      Shampoo $1.37$1.287.2%
      Movie $14.47$12.1319.3%
      Bowling $18.39$18.002.2%

      Groceries

      Item Berea National avg. Difference
      Ground Beef $6.24$5.846.8%
      Fried Chicken $1.50$1.574.6%
      Milk $4.56$4.672.4%
      Potatoes $5.31$4.937.6%
      Pizza $11.78$12.092.5%
      Beer $10.45$10.410.4%

      Health Care

      Item Berea National avg. Difference
      Optometrist $120.21$125.684.4%
      Doctor $123.75$135.788.9%
      Dentist $114.80$113.291.3%
      Ibuprofen $10.43$10.652.1%
      Lipitor $534.74$468.6014.1%

      Housing

      Item Berea National avg. Difference
      Home Price $124,100.00$184,700.0032.8%
      Avg. Mortgage Payment $1,581.44$2,346.6932.6%
      Apartment Rent $834.00$949.0012.1%

      Transportation

      Item Berea National avg. Difference
      Gasoline $3.07$3.4611.2%
      Tire Balancing $56.50$59.925.7%

      Utilities

      Item Berea National avg. Difference
      All Electricity $170.53$193.9912.1%
      Phone $189.75$192.251.3%
      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.
      Tigerville, SC2,023981.9%
      Slater-Marietta, SC2,0988316.6%
      Judson, SC1,4128514.8%
      Parker, SC12,1758614.2%
      Liberty, SC3,1688911.5%
      Berea, SC15,104919.3%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lemon Hill, CA15,10411111.5%
      Greenwood Village, CO15,10019595.4%
      Groveland, FL15,1091098.6%
      Glenmont, MD15,11113939.0%
      Hollins, VA15,113982.1%
      Berea, SC15,104919.3%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.