With 83,700 residents, Mount Pleasant is a town in Charleston County, South Carolina. For a single adult living in Mount Pleasant, the annual cost of housing, food, childcare, transportation, health care, taxes, and other needs comes to $38,455. This ismore than the $36,133 annual cost of living in South Carolina and around average for the entire US ($38,433).
Living expenses in Mount Pleasant
Is it reasonable to live in Mount Pleasant? When considering a move, affordability is important because it frequently influences your decisions. The basis for assessing an area’s affordability is the cost of living index, along with housing costs and income levels. Consider Mount Pleasant, where monthly rent rates are 79.3% higher than average and the median property price is 156% higher than the national average. The calculation also takes into account median income levels; Mount Pleasant boasts a typical household income of $104,772, which is 89.4% more than the national average.
Cost of Housing in Mount Pleasant
One of the main factors affecting the cost of living is housing. The median home value in Mount Pleasant is $89,800, which is lower than the $204,900 nationwide median home value. Sometimes it’s less expensive to rent than to buy a property. Approximately 46.20 percent of occupied residences in Mount Pleasant are rented, which is higher than the 36.2% nationwide renter rate. The average monthly renter in Mount Pleasant pays $691 for student accommodation Mount Pleasant, which is more than the $1,023 national median rent. Area income is one of the main factors that determines housing affordability in addition to house value. The average cost of a home in the United States is 3.4 times higher than the $60,293 median household income, although housing affordability ratios vary widely across the nation, from about 1.0 in the most affordable places to more than 10.0 in the priciest areas. The median household income in Mount Pleasant is $43,819, which is 2.0 times the median value of a property.
Utilities
Just like everything else, the cost of utilities can vary greatly based on a number of variables, including location, climate, accessible energy sources, and even state laws. Depending on the city or state, costs for things like garbage disposal, heating, water, and electricity may vary. Mount Pleasant has a utilities index that is 21.1% higher than the national average.
Transportation Costs in Mount Pleasant
The cost of living may also be significantly impacted by transportation. Compared to 85.5% of commuters nationwide, 85.10% of commuters in Mount Pleasant drive to work. Compared to the 43.7% of commuters overall who live and work in different places, an estimated 56.50% of workers commute to jobs outside of Mount Pleasant. In comparison to the national average commute of 26.6 minutes, the average commute in Mount Pleasant is 22.7 minutes lengthy. After accounting for the cost of gas, public transportation, and auto maintenance, the EPI calculates that an individual living in Mount Pleasant spends around $9,317 year on transportation, which is comparable to the national average of $9,760. Students are advised to make use of public transport when they need to travel from their student housing Mount Pleasant.
Food Costs in Mount Pleasant
Another daily item that significantly affects the total cost of living is food. The U.S. Department of Agriculture’s data indicates that food prices differ from town to town and city to city. In Mount Pleasant, the average annual food expenditure for an adult single is $3,448; the average annual food expenditure for a family of four is $9,957. To put things in perspective, the average yearly food expenses in the United States and South Carolina for an individual are $3,080 and $3,240, respectively, and $8,895 and $9,354 for a family of four. These figures are based on a nutritionally sufficient diet consisting of grocery store-purchased food prepared at home.
The Cost of Healthcare in Mount Pleasant
In addition to being significantly higher than they are in Texas overall, out-of-pocket medical expenses and insurance premiums (assuming at least a minimal level of coverage) are somewhat higher in Mount Pleasant than they are on average across the US. The average annual cost of health care for a single adult in the area is $4,583, whereas the average for Texas is $3,948 and the national average is $4,266. If you are considering moving to Mount Pleasant or already moved here and looking for the best student homes then you can check out The Reserve at Mount Pleasant or University Meadows Mount Pleasant. Both of these student housing are of premium quality that provides standard amenities and facilities to its residents making their stay comfortable and easier.
