Greenwood, SC

Very Low · 51

South Carolina · Population 22,527 · Updated March 2026

$826
Median Rent / Month
$40,253
Median Income
$123,400
Median Home Value
$785
Owner Costs / Month

Affordability

How far your income goes in Greenwood

24.6%
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

$9,912
Annual Rent
$2,576
State Income Tax
$703
Property Tax (est.)

Cost of Living Overview

Greenwood is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 51 (where 100 equals the national median), Greenwood residents can expect to pay median rent of $826/month while earning a median household income of $40,253/year.

The median home value in Greenwood, SC is $123,400, with typical monthly owner costs around $785 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.6% 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 Greenwood.

Frequently Asked Questions

Common questions about living costs in Greenwood

What is the cost of living in Greenwood, SC?
The cost of living index in Greenwood, SC is 51 (US average = 100). Median monthly rent is $826, median household income is $40,253/year, and the median home value is $123,400.
Is Greenwood, SC affordable?
Yes, Greenwood is more affordable than the national average with a cost index of 51. The rent-to-income ratio is 24.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Greenwood, SC?
The median gross rent in Greenwood, SC is $826 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,912.
What is the median household income in Greenwood?
The median household income in Greenwood, SC is $40,253 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%.