Gaffney, SC

Very Low · 52

South Carolina · Population 12,612 · Updated March 2026

$822
Median Rent / Month
$41,214
Median Income
$141,100
Median Home Value
$748
Owner Costs / Month

Affordability

How far your income goes in Gaffney

23.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in South Carolina

State-level tax rates that affect your costs

6.4%
Income Tax (Top Rate)
6.0%
Sales Tax
0.57%
Property Tax Rate

Estimated Annual Costs

$9,864
Annual Rent
$2,638
State Income Tax
$804
Property Tax (est.)

Cost of Living Overview

Gaffney is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 52 (where 100 equals the national median), Gaffney residents can expect to pay median rent of $822/month while earning a median household income of $41,214/year.

The median home value in Gaffney, SC is $141,100, with typical monthly owner costs around $748 including mortgage, insurance, and taxes. The median rent-to-income ratio of 23.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

South Carolina has a moderate income tax rate of 6.4%. Combined with a 6.0% sales tax rate and 0.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Gaffney.

Frequently Asked Questions

Common questions about living costs in Gaffney

What is the cost of living in Gaffney, SC?
The cost of living index in Gaffney, SC is 52 (US average = 100). Median monthly rent is $822, median household income is $41,214/year, and the median home value is $141,100.
Is Gaffney, SC affordable?
Yes, Gaffney is more affordable than the national average with a cost index of 52. The rent-to-income ratio is 23.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Gaffney, SC?
The median gross rent in Gaffney, SC is $822 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,864.
What is the median household income in Gaffney?
The median household income in Gaffney, SC is $41,214 per year. This compares to the national median of approximately $80,000.
What are the taxes like in South Carolina?
South Carolina has a top income tax rate of 6.4%, a sales tax of 6.0%, and an effective property tax rate of 0.57%.