Socastee, SC

Below Avg · 78

South Carolina · Population 24,629 · Updated March 2026

$1,244
Median Rent / Month
$59,826
Median Income
$218,200
Median Home Value
$1,061
Owner Costs / Month

Affordability

How far your income goes in Socastee

25.0%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

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

$14,928
Annual Rent
$3,829
State Income Tax
$1,244
Property Tax (est.)

Cost of Living Overview

Socastee is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 78 (where 100 equals the national median), Socastee residents can expect to pay median rent of $1,244/month while earning a median household income of $59,826/year.

The median home value in Socastee, SC is $218,200, with typical monthly owner costs around $1,061 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.0%, Socastee falls within the generally affordable range, though it's approaching the 30% burden threshold.

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 Socastee.

Frequently Asked Questions

Common questions about living costs in Socastee

What is the cost of living in Socastee, SC?
The cost of living index in Socastee, SC is 78 (US average = 100). Median monthly rent is $1,244, median household income is $59,826/year, and the median home value is $218,200.
Is Socastee, SC affordable?
Yes, Socastee is more affordable than the national average with a cost index of 78. The rent-to-income ratio is 25.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Socastee, SC?
The median gross rent in Socastee, SC is $1,244 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,928.
What is the median household income in Socastee?
The median household income in Socastee, SC is $59,826 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%.