F
40%
Overall NAT. AVG.
3%
Goods & Services NAT. AVG.
133%
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 Mount Pleasant South Carolina National
Cost of living14093100
Goods & Services97100100
Groceries10299100
Health care8994100
Housing23380100
Transportation8891100
Utilities121107100

An Overview of Cost of Living in Mount Pleasant, SC

Knowing the cost of living in Mount Pleasant allows individuals to create a realistic budget. This helps them understand how their income will cover expenses and whether they need to make financial adjustments. The cost of living in any region can fluctuate due to various factors. To assess the cost of living consistently across different areas, a national average of 100 serves as the basis for the cost of living index. The cost of living in Mount Pleasant stands at 140, marking it 40% higher than the national average.

If you prioritize affordability when seeking a new place to live, Mount Pleasant may not be your ideal choice, as it ranks among the most expensive locations in the entire United States. A very small amount of areas exhibit a cost of living at least 20% higher than the national average, and unfortunately, Mount Pleasant falls into this category, which may not align with your preferences for a budget-friendly living environment.

Housing costs are a major factor in the Mount Pleasant cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 133% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.

Is Mount Pleasant Affordable?

Is Mount Pleasant 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 Mount Pleasant, for instance, where the median home price falls 156% higher than the national average, and monthly rent rates are 79.3% higher than usual. Additionally, median income levels contribute to the equation, with Mount Pleasant flaunting a median household income of $104,772, 89.4% higher than the national norm.

What Factors can Influence the Cost of Living in Mount Pleasant?

Utilities: Like everything else, utilities costs can range significantly depending on factors like climate, energy sources available, location and even state regulations. Things like electricity, water, heating and waste disposal costs can be higher or lower, depending on the city or state. The utilities index in Mount Pleasant comes in at 21.1% higher than the national average.

Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Mount Pleasant, the transportation index is 12.1% lower than the national average.

Taxes: Regions that impose higher taxes, including sales and income taxes, can contribute to an increased cost of living. Higher taxes for everyday necessities such as clothing, utilities and food inevitably leads to higher expenditures. Additionally, a higher income tax rate can also play a role in elevating the overall cost of living. In Mount Pleasant, the prevailing sales tax rate starts at 6%, and income tax rates kick off at 0%.

Where is the Data From?

The cost of living in Mount Pleasant, presented above is derived from the C2ER cost of living index, offering a practical method for assessing living cost disparities in urban areas. Published quarterly, this index compiles data from more than 300 independent researchers, encompassing over 60 goods and services in 6 categories. The weightings assigned to cost variances are informed by government survey data tracking the expenditure patterns of professional and executive households. It should be noted that the C2ER index does not include data on sales or income tax rates, however, AreaVibes incorporates tax rates into the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Mount Pleasant is 50% higher than the South Carolina average
  • The cost of living in Mount Pleasant is 40% higher than the national average
  • Mount Pleasant housing is 133% 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 Mount Pleasant

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Compare Mount Pleasant, 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$126,310$10,526$2,947$3,790
      Renters$62,373$5,198$1,455$1,871
      The affordability of the housing market in Mount Pleasant, 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 Mount Pleasant homeowners, the median income is $126,310. This indicates that a monthly maximum of $2,947 should be spent by homeowners on all housing related costs. Renters have a median income of $62,373. This indicates that renters would have a maximum of $1,455 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 Mount Pleasant National avg. Difference
      Haircut $26.38$24.268.7%
      Beauty Salon $56.15$45.5623.2%
      Toothpaste $3.77$3.701.8%
      Shampoo $1.38$1.287.5%
      Movie $11.30$12.136.8%
      Bowling $19.43$18.008.0%

      Groceries

      Item Mount Pleasant National avg. Difference
      Ground Beef $6.22$5.846.5%
      Fried Chicken $1.67$1.576.2%
      Milk $4.59$4.671.8%
      Potatoes $5.51$4.9311.6%
      Pizza $10.83$12.0910.4%
      Beer $10.61$10.411.9%

      Health Care

      Item Mount Pleasant National avg. Difference
      Optometrist $78.10$125.6837.9%
      Doctor $137.50$135.781.3%
      Dentist $97.17$113.2914.2%
      Ibuprofen $10.75$10.650.9%
      Lipitor $373.44$468.6020.3%

      Housing

      Item Mount Pleasant National avg. Difference
      Home Price $472,900.00$184,700.00156.0%
      Avg. Mortgage Payment $2,134.33$2,346.699.0%
      Apartment Rent $1,702.00$949.0079.3%

      Transportation

      Item Mount Pleasant National avg. Difference
      Gasoline $3.18$3.468.0%
      Tire Balancing $46.64$59.9222.2%

      Utilities

      Item Mount Pleasant National avg. Difference
      All Electricity $258.50$193.9933.3%
      Phone $194.25$192.251.0%
      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.
      North Charleston, SC113,8801011.0%
      Awendaw, SC1,7441054.9%
      Goose Creek, SC42,9441055.3%
      Hanahan, SC25,7431098.6%
      Charleston, SC137,04112221.9%
      Mount Pleasant, SC89,41014039.7%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Miami Beach, FL89,43913736.7%
      Peterborough, ON89,500n/a 
      Germantown, MD89,52913130.8%
      Fall River, MA89,61811313.1%
      Chino, CA89,17014847.7%
      Mount Pleasant, SC89,41014039.7%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.