B
0%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
1%
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 Columbia South Carolina National
Cost of living10093100
Goods & Services98100100
Groceries9999100
Health care8694100
Housing10180100
Transportation8291100
Utilities131107100

An Overview of Cost of Living in Columbia, SC

The cost of living in Columbia 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 Columbia is 100, which is 0% equal to the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.

Everyday expenditures like food, housing, goods and services, transportation and health care in Columbia are priced in a manner consistent with other areas. This means that residents of Columbia can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.

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

The real experts on a city are its residents. That's why we reached out to 25 locals to get their views on the cost of living in Columbia. We surveyed the residents and asked them if they felt like prices were affordable or out of reach. The results were as follows. 40% found it budget-friendly with decreasing prices, while 60% said it's simply not affordable as prices have continued to rise.

Is Columbia Affordable?

Is Columbia 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 Columbia is 0.7% higher than the national average, while the average monthly rent prices are 0.7% higher than average. The affordability of any location can also be influenced by median income levels. Columbia has a median household income of $47,416, which is 14.3% lower than the national average.

What Factors can Influence the Cost of Living in Columbia?

Housing: When there's a high demand for housing in trendy places, it can cause property prices and rental rates to soar, leading to a significantly higher cost of living. Conversely, in less desirable locations, where demand is low, prices tend to decrease, resulting in a more budget-friendly cost of living. In Columbia, the housing index is 0.7% higher than the national average.

Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including 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 offering fewer subsidies may experience a rise in their cost of living.

Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Columbia, the utilities index is 31% higher than the national average.

Where is the Data From?

The cost of living data in Columbia 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 Columbia is 7% higher than the South Carolina average
  • The cost of living in Columbia is equal to the national average
  • Columbia housing is 1% 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 Columbia

See all the best places to live around Columbia

Compare Columbia, 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$77,432$6,453$1,807$2,323
      Renters$30,053$2,504$701$902
      To approximate the cost of living and the housing affordability in Columbia, SC, we can look at the percentage of income that is available to be spent on monthly housing, otherwise known as the debt-to-income ratio (DTI). To stay on the safe side, a consumer should not spend more than 28% of his or her gross income on housing-related expenses and costs and not more than 36% of income on all expenses and debts. Homeowners in Columbia have a median income of $77,432. Therefore, the amount that a consumer should spend on housing costs should be no more than $1,807 per month to avoid calamity and poverty. The renters in the city have an income of about $30,053, which would make their monthly maximum allowable rental costs $701.

      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 Columbia National avg. Difference
      Haircut $20.75$24.2614.5%
      Beauty Salon $30.56$45.5632.9%
      Toothpaste $3.65$3.701.5%
      Shampoo $1.33$1.283.6%
      Movie $12.93$12.136.6%
      Bowling $24.33$18.0035.2%

      Groceries

      Item Columbia National avg. Difference
      Ground Beef $6.15$5.845.3%
      Fried Chicken $1.67$1.576.2%
      Milk $4.61$4.671.3%
      Potatoes $5.50$4.9311.5%
      Pizza $10.35$12.0914.4%
      Beer $10.53$10.411.1%

      Health Care

      Item Columbia National avg. Difference
      Optometrist $59.00$125.6853.1%
      Doctor $150.00$135.7810.5%
      Dentist $78.33$113.2930.9%
      Ibuprofen $10.46$10.651.8%
      Lipitor $416.30$468.6011.2%

      Housing

      Item Columbia National avg. Difference
      Home Price $186,000.00$184,700.000.7%
      Avg. Mortgage Payment $1,725.28$2,346.6926.5%
      Apartment Rent $956.00$949.000.7%

      Transportation

      Item Columbia National avg. Difference
      Gasoline $3.22$3.466.9%
      Tire Balancing $32.03$59.9246.5%

      Utilities

      Item Columbia National avg. Difference
      All Electricity $290.58$193.9949.8%
      Phone $192.75$192.250.3%
      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.
      Springdale CDP, SC2,3558317.3%
      Springdale, SC2,8788712.8%
      Hopkins, SC2,0688812.4%
      Gaston, SC2,0748911.0%
      St. Andrews, SC21,3559010.3%
      Columbia, SC134,0571000.1%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Warren, MI134,188955.4%
      Gainesville, FL133,611954.8%
      Coral Springs, FL133,37012929.2%
      Cedar Rapids, IA133,125937.1%
      Visalia, CA133,10012019.7%
      Columbia, SC134,0571000.1%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.