Key Economic Benchmarks
Median Household Income
$56,650$4,721 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Conway, SC
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Conway, SC
Official FY2026 HUD Fair Market Rents for Myrtle Beach-North Myrtle Beach-Conway, SC HUD Metro FMR Area. 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 | $1,145 | $13,740 | $45,800 | 24.3% |
| 1-Bedroom Apartment | $1,229 | $14,748 | $49,160 | 26% |
| 2-Bedroom ApartmentBenchmark | $1,465 | $17,580 | $58,600 | 31% |
| 3-Bedroom Home | $1,805 | $21,660 | $72,200 | 38.2% |
| 4-Bedroom Home | $2,111 | $25,332 | $84,440 | 44.7% |
50/30/20 Living Budget in Conway, SC
Based on the local median household income of $56,650/year ($4,721/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 Conway, SC
What is the median household income in Conway, SC?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Conway, SC is $56,650 per year (approximately $4,721 per month).
What is the average rent in Conway, SC?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Conway, SC are $1,145 for a studio, $1,229 for 1 bedroom, $1,465 for 2 bedrooms, $1,805 for 3 bedrooms, and $2,111 for 4 bedrooms.
How does the cost of living in Conway, SC compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Conway, SC is 93.6 (6.4% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Conway, SC?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,465/month) in Conway, SC requires a minimum gross household income of $58,600 per year ($4,883 per month).
What is a balanced 50/30/20 monthly budget in Conway, SC?
For a typical household earning the median income of $56,650/year ($4,721/month) in Conway, SC, a balanced 50/30/20 budget allocates $2,360/month to essential needs (rent, utilities, groceries), $1,416/month to discretionary spending, and $944/month to savings and debt repayment.
What are typical electricity and utility costs in Conway, 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.