Cost of Living in Beaufort, SC

An Overview of Cost of Living in Beaufort, SC

Are you thinking about relocating, but curious about the potential cost of living in Beaufort? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Beaufort stands at 106, making it 6% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.

In Beaufort, daily expenses such as food, housing, goods and services, transportation and health care are in line with comparable areas and about average when compared to all cities across the nation. This ensures that the cost of living in Beaufort will resemble that of an average city, contributing to a manageable cost of living.

What Do Locals Say About the Cost of Living in Beaufort?

Locals have the inside scoop on their city. So, we polled 16 residents in Beaufort to learn how they view the cost of living. We asked how they felt about the cost of living in their area, and if they thought that prices were increasing, decreasing or staying the same. The verdict? 13% find it reasonable with decreasing prices, but 88% think it's quite pricey, with prices that continue to rise.

Is Beaufort Affordable?

Is Beaufort an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Beaufort is 24.3% higher than the national average, while the average monthly rent prices are 0.8% lower than average. The affordability of any location can also be influenced by median income levels. Beaufort has a median household income of $54,061, which is 2.3% lower than the national average.

What Factors can Influence the Cost of Living in Beaufort?

Urbanization: Urban areas with extensive amenities and job opportunities tend to have a higher cost of living due to increased demand for services and relocation, resulting in higher home prices and higher rents. Less densely populated rural areas, or areas with less demand tend to have fewer amenities and slower job growth, which results in a lower cost of living.

Transportation: In cities with limited or no public transportation, residents may find it necessary to own and maintain vehicles, thereby elevating the cost of living. Monthly expenditures include fuel, insurance, routine maintenance and potential lease or financing commitments. In Beaufort, the transportation index stands at 2.9% lower than the national average.

Healthcare: Healthcare costs and insurance premiums can fluctuate greatly based on the city or state. Access to healthcare facilities, out-of-pocket expenses for doctor\’s visits, dentist costs, medication costs and specialized care costs can all impact the cost of living. In Beaufort, the healthcare costs are 1.5% higher than the national average.

Where is the Data From?

The Beaufort cost of living data you see above is sourced from the C2ER cost of living index, providing a practical and accurate means of comparing living expenses in urban areas. Updated quarterly, this index gathers data from over 300 independent researchers, covering more than 60 goods and services, in 6 different categories. These selections are made meticulously to represent a wide range of consumer expenditure categories. The weightings applied to cost differences are based on government survey data that tracks spending patterns among professional and executive households. It's important to note that while the C2ER index excludes data on sales or income tax rates, AreaVibes factors tax rates into the overall cost of living score for each region.