A+
10%
Overall NAT. AVG.
2%
Goods & Services NAT. AVG.
29%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Gantt South Carolina National
Cost of living9093100
Goods & Services102100100
Groceries9899100
Health care10094100
Housing7180100
Transportation9091100
Utilities92107100

An Overview of Cost of Living in Gantt, SC

Are you thinking about relocating, but curious about the potential cost of living in Gantt? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Gantt stands at 90, making it 10% lower 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.

The cost of living in Gantt is about average when compared to all other cities across the nation. You can expect that everyday items like food, goods and services and utility bills will be no more expensive than any other average city. Residents can anticipate living expenses that remain in line with the national average, ensuring a manageable financial burden, making it an attractive choice for those seeking affordability without the constraints of higher everyday expenditures.

Is Gantt Affordable?

Wondering if Gantt is affordable? It's a question that often comes up when you're thinking about a new city since affordability can really shape your decisions. The cost of living index (covered earlier), housing expenses and income levels all play a part in the affordability equation. In Gantt, for example, the median home price is 35.6% lower than what folks pay nationally, and monthly rent is 12.8% lower than the usual rates. Plus, income levels matter too, with Gantt boasting a median household income of $38,165, which is 31% lower than the national average.

What Factors can Influence the Cost of Living in Gantt?

Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Gantt, the baseline sales tax rate begins at 6%, and income tax rates start at 0%.

Transportation: In situations where public transportation is limited or nonexistent, local residents may be required to own and maintain their own vehicles, contributing to an elevated cost of living. Monthly expenditures may encompass fuel costs, insurance premiums, routine vehicle upkeep and possibly lease or financing payments. In Gantt, the transportation index is 9.7% lower than the national average.

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.

Where is the Data From?

The Gantt cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. Published on a quarterly basis, it compiles data from more than 300 independent researchers, encompassing over 60 goods and services. These items have been meticulously selected to represent various consumer expenditure categories, in 6 categories. Weightings assigned to cost differentials draw from government survey data tracking spending patterns among professional and executive households. While the C2ER index excludes data on sales or income tax rates, AreaVibes incorporates tax rates into the overall cost of living score for each region.

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Cost Of Living Quick Facts

  • The cost of living in Gantt is 3% lower than the South Carolina average
  • The cost of living in Gantt is 10% lower than the national average
  • Gantt housing is 29% lower than the national average
  • South Carolina general sales tax is 18% higher than the national average
  • South Carolina state income tax is 100% lower than the national average

Most Affordable Places to Live in and Around Gantt

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Compare Gantt, SC Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$54,311$4,526$1,267$1,629
      Renters$28,095$2,341$656$843
      A good way to judge both the affordability of the housing and the cost of living in Gantt is by simply calculating the maximum that should be spent on housing, otherwise known as the debt-to-income ratio (DTI). The plan is to avoid spending more than 28 percent of the gross income on costs that pertain to housing and no more than 36 percent on all expenses and debts. Gantt has a median income of about $54,311 for people who own homes. Based on that number, a maximum of $1,267 should be spent on expenses related to housing. Renters have a slightly different median income, which is $28,095. Based on this average, renters should spend no more than $656 on all rental costs if they want to maintain a non-impoverished standard of living.

      South Carolina Sales Tax

      State General Sales Tax With Max Surtax
      South Carolina 6% 9%

      South Carolina Income Tax

      State Income Tax (Low) Income Tax (High)
      South Carolina 0% 6.5%

      Goods & Services

      Item Gantt National avg. Difference
      Haircut $25.74$24.266.1%
      Beauty Salon $51.07$45.5612.1%
      Toothpaste $3.61$3.702.4%
      Shampoo $1.37$1.287.2%
      Movie $14.47$12.1319.3%
      Bowling $18.39$18.002.2%

      Groceries

      Item Gantt National avg. Difference
      Ground Beef $6.24$5.846.8%
      Fried Chicken $1.50$1.574.6%
      Milk $4.56$4.672.4%
      Potatoes $5.31$4.937.6%
      Pizza $11.78$12.092.5%
      Beer $10.45$10.410.4%

      Health Care

      Item Gantt National avg. Difference
      Optometrist $120.21$125.684.4%
      Doctor $123.75$135.788.9%
      Dentist $114.80$113.291.3%
      Ibuprofen $10.43$10.652.1%
      Lipitor $534.74$468.6014.1%

      Housing

      Item Gantt National avg. Difference
      Home Price $118,900.00$184,700.0035.6%
      Avg. Mortgage Payment $1,581.44$2,346.6932.6%
      Apartment Rent $828.00$949.0012.8%

      Transportation

      Item Gantt National avg. Difference
      Gasoline $3.07$3.4611.2%
      Tire Balancing $56.50$59.925.7%

      Utilities

      Item Gantt National avg. Difference
      All Electricity $170.53$193.9912.1%
      Phone $189.75$192.251.3%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Ware Place, SC1167921.0%
      Judson, SC1,4128514.8%
      Parker, SC12,1758614.2%
      West Pelzer, SC1,0498712.9%
      Pelzer, SC1,6538811.5%
      Gantt, SC14,5569010.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Saraland, AL14,561927.5%
      Pewaukee, WI14,56112221.8%
      Tenafly, NJ14,550209108.7%
      Roanoke Rapids, NC14,5628812.3%
      Thibodaux, LA14,565928.5%
      Gantt, SC14,5569010.0%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.