Cost of Living in Greenville
Hey y’all, Sarah here – with some stats + data (don’t be alarmed, I’ve already done all the homework for you) that make me grateful to be a Greenvillian. With our area being named one of the top moving destinations in the U.S. + all the new development occurring around town, we thought it would be a great time to talk about our cost of living compared to other cities around the state.
To start, I thought it would be important to talk about wages. Here’s what I found:
- The median household income in Greenville County is ~$53,739 (according to the U.S. Census Bureau), making us the seventh-highest county for median household income in South Carolina. You can compare Greenville County’s household income to other counties in the state here.
- State-wise, South Carolina comes in at 43rd in the country for median income at ~$48,781 per household. To compare, Maryland ranked #1 with a median household income of $78,916 – and Puerto Rico was last (as an outlier) with a median income of $19,775 per household (without outliers, Mississippi ranked last at $42,009).
By the numbers
Hypothetically speaking, if you live in a household that brings in $50,000 annually – according to experts, you shouldn’t spend more than 30% of your monthly gross income on rent. Don’t worry, we did the math for you – your max monthly rent budget would be $1,250.
According to neighborhoodscout.com, the average monthly rent in Greenville is $1,147 – putting you ~$100 under budget.
Take a look at the chart below to see how Greenville’s rent + home values compared to five of the other major cities in the state. Our Median Home Value is listed at $270,756.
Interested in seeing Greenville’s cost of living compared to cities in other states? We played around on NerdWallet’s cost of living calculator, where you can put in any city along with your current pre-tax household income to find out what it would cost to live in other places in the U.S.
Grace and I both love visiting New York City – so we took a look at the cost of living in Manhattan compared to good ol’ Greenville. Here’s what we found:
- The cost of living is 159% higher in Manhattan – but a girl can dream, right?.
- To maintain our standard of living, we would need to bring in $129,541 to our household – whew, that dream turned into a nightmare, really quick.
- The median cost for a two-bedroom apartment is $5,133 – yes, rent.
The city’s affordability has welcomed countless new developments, restaurants, housing (like The Greene) + so much more. With that said – aren’t you glad you don’t live in Manhattan?
Quiz
Find the answer to the quiz in the Wrap section of today’s newsletter.
