Key Economic Benchmarks
Median Household Income
$92,414$7,701 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Charleston, SC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Charleston, SC
Official FY2026 HUD Fair Market Rents for Charleston-North Charleston, SC MSA. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $1,557 | $18,684 | $62,280 | 20.2% |
| 1-Bedroom Apartment | $1,630 | $19,560 | $65,200 | 21.2% |
| 2-Bedroom ApartmentBenchmark | $1,787 | $21,444 | $71,480 | 23.2% |
| 3-Bedroom Home | $2,222 | $26,664 | $88,880 | 28.9% |
| 4-Bedroom Home | $2,562 | $30,744 | $102,480 | 33.3% |
50/30/20 Living Budget in Charleston, SC
Based on the local median household income of $92,414/year ($7,701/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in South Carolina
Explore net income after federal income tax, FICA, and South Carolina state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across South Carolina with official federal datasets:
Frequently Asked Questions About Living in Charleston, SC
What is the median household income in Charleston, SC?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Charleston, SC is $92,414 per year (approximately $7,701 per month).
What is the average rent in Charleston, SC?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Charleston, SC are $1,557 for a studio, $1,630 for 1 bedroom, $1,787 for 2 bedrooms, $2,222 for 3 bedrooms, and $2,562 for 4 bedrooms.
How does the cost of living in Charleston, SC compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Charleston, SC is 101.0 (1% higher than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Charleston, SC?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,787/month) in Charleston, SC requires a minimum gross household income of $71,480 per year ($5,957 per month).
What is a balanced 50/30/20 monthly budget in Charleston, SC?
For a typical household earning the median income of $92,414/year ($7,701/month) in Charleston, SC, a balanced 50/30/20 budget allocates $3,851/month to essential needs (rent, utilities, groceries), $2,310/month to discretionary spending, and $1,540/month to savings and debt repayment.
What are typical electricity and utility costs in Charleston, SC?
Residential electricity rates in South Carolina average 15.6¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $140 per month.