Socastee, SC Cost Of Living

Demographics | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Socastee, SC Summary

Cost of living in Socastee research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Socastee is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in South Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Socastee is 98, with 100 being the average.

  • The cost of living index in Socastee is 1.0x lower than the national average.

  • Socastee ranks as the #72 cheapest in South Carolina out of 99.

  • Socastee ranks as the #2,890 cheapest out of 6,412 in the US.

  • The median home value in Socastee is $175,800.

  • The median income in Socastee is $49,179.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
98
Socastee's Overall Cost Of Living
1.0x
Lower Than The National Average

What is the cost of living in Socastee, SC?

According to the most recent data on the cost of living, Socastee has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.

Compared to South Carolina, Socastee has a cost of living index that's 1.0x higher than South Carolina's index of 96.

The standard of living in Socastee ranks as #72 most affordable out of the 99 places we measured in South Carolina. By definition, that implies Socastee ranks as the #27 most expensive place in the Palmetto State.

For more reading on life in Socastee, check out:

72 out of 99
In South Carolina
2,890 out of 6,412
In America

Socastee Cost Of Living Vs. South Carolina

Six factors go into calculating the cost of living index in Socastee. Here is how it fairs on each of the criteria:

  • The Services index in Socastee is 104.

  • The Groceries index in Socastee is 96.

  • The Health index in Socastee is 109.

  • The Housing index in Socastee is 86.

  • The Transportation index in Socastee is 106.

  • The Utilities index in Socastee is 103.

Living Expense Socastee South Carolina National Average
Overall 98 96 100
Services 104 99 100
Groceries 96 100 100
Health 109 96 100
Housing 86 89 100
Transportation 106 90 100
Utilities 103 107 100
For more reading on cost of living around South Carolina, check out:
Socastee Cost of Living Vs. SC

Socastee, SC Housing Cost Breakdown

Housing swings affordability the most between places in South Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Socastee is $175,800.

  • The Median Rent in Socastee is $1,018.

  • The Median Income in Socastee is $49,179.

  • The Home Value To Income in Socastee is 3.6x.

  • The Rent To Monthly Income in Socastee is 0.25x.

Statistic Socastee South Carolina United States
Median Home Value $175,800 $181,800 $244,900
Median Rent $1,018 $970 $1,163
Median Income $49,179 $58,234 $69,021
Home Value To Income 3.6x 3.1x 3.5x
Rent To Monthly Income 0.25x 0.2x 0.2x
Search Homes For Sale In Socastee, SC
$175,800
Median Home Value
$1,018
Median Rent
$49,179
Median Income

Socastee, SC Costs By Category

Detailed Socastee Services Costs Vs. South Carolina

Item Socastee South Carolina
Shampoo $1.07 $1.06
Movie $10.35 $10.68
Bowling $13.67 $14.67
Haircut $15.0 $18.62
Beauty Salon $42.5 $39.05

Detailed Socastee Groceries Costs Vs. South Carolina

Item Socastee South Carolina
Ground Beef $4.32 $4.22
Fried Chicken $1.48 $1.39
Milk $2.58 $2.05
Potatoes $4.3 $3.29
Pizza $8.99 $10.62
Beer $9.69 $9.38
Toothpaste $3.23 $2.34

Detailed Socastee Health Costs Vs. South Carolina

Item Socastee South Carolina
Optometrist $116.4 $108.57
Doctor $121.67 $116.17
Dentist $120.22 $99.13

Detailed Socastee Transportation Costs Vs. South Carolina

Item Socastee South Carolina
Gasoline $2.5 $2.22
Tire Balancing $63.96 $50.07

Detailed Socastee Utilities Costs Vs. South Carolina

Item Socastee South Carolina
All Electricity $180.8 $167.67
Phone $177.09 $175.64

Socastee SnackAbility

6
/10
Overall SnackAbility
Jobs
6/10
Housing
8
Affordability
5
Diversity
8
Safety
N/A
Amenities
8.5
Education
7
Commute
8.5

Cost Of Living In Cities Around Socastee

The cost of living varies in the cities and towns around Socastee. Here's a quick look at the cost of living in the most populous nearby places:

  • Myrtle Beach, SC has a cost of living index of 97, 1.0x Socastee.

  • Conway, SC has a cost of living index of 96, 1.0x Socastee.

  • North Myrtle Beach, SC has a cost of living index of 112, 1.1x Socastee.

City Population Cost Of Living Vs. Socastee
Myrtle Beach, SC 35,116 97 1.0x
Conway, SC 22,001 96 1.0x
North Myrtle Beach, SC 18,502 112 1.1x
Red Hill, SC 16,060 100 1.0x
Murrells Inlet, SC 9,695 107 1.1x
Forestbrook, SC 7,256 98 1.0x

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