Retire in Charleston

Affordability

Find out how much it costs to live in Charleston.

Cost of Living

A Kiplinger rated "Tax friendly" state should make Charleston attractive to you if you're trying to prevent too much of your income from getting taxed. While there is income tax and most pensions are taxed, the blow is lessened by sales tax breaks for seniors over 85.

Kiplinger Rating:

Friendly

State Income Tax:

3-7%

Social Security Tax?

None

County + State Sales Tax

8.5%

Property Tax Rate *

0.5%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

2471

* 2008-2010

Cost of Living Index (100=average):

101

Housing + transportation costs as % of income:

51%

Tax Details

State Sales Tax Breaks for Seniors:

Seniors 85 and older pay 5%

Pensions Taxed?

Yes

Tax burden: % income going to state and local taxes:

8.3%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

For homeowners 65 and older, the state's homestead exemption allows the first $50,000 of a property's fair market value to be exempt from local property taxes. To qualify, you must have been at least 65 years old, and a legal resident of South Carolina for one year, as of Dec 31 of the preceding year

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

eRetirements has partnered with a network of over 12,500 top performing Realtors covering 91% of the United States. These Realtors will show you around town, assist you in viewing properties, and provide you with local info that would be nearly impossible to discover on your own.

Real Estate overview not available for Charleston

To learn more about real estate in Charleston book a visit and we'll help you find the right place to live.

Work Potential

Charleston's economy and employment has outpaced the overall US, likely due to significant hiring in healthcare and manufacturing. The Medical University of South Carolina and St. Francis Hospital make up two of the town's largest employers, along with Piggly Wiggly (who wouldn't want to work for a company with such a friendly name?!).

  • Area
  • National Average

5 Largest Companies

  • Medical University of South Carolina
  • Piggly Wiggly
  • Charleston Air Force Base
  • St. Francis Hospital
  • Robert Bosch LLC

GDP Growth Last 3 Years

14.7%

Income Growth Last 3 Years

19.8%

Employment Growth Last 3 Years

7.6%

Top Industries Hiring

  • Accommodation and food services
  • Manufacturing
  • Healthcare and social assistance
  • Retail trade
  • Other services, except public administration

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

Didn't find what you're looking for? Ask the community a question.