Charleston, SC Economic Development


Quality of Life

Anyone who's been here understands the Charleston allure. It's no wonder more than 25 new residents are added to the region each day.

In addition to Charleston's acclaimed culture, cuisine, entertainment and beaches, residents here enjoy a diverse range of housing options, one of the most impressive medical hubs in the Southeast, and a mild year-round climate - all at a cost of living around the national average.
related information

HousingClimateCost of LivingHealthcareArts & Recreation
With 27 incorporated communities, residential areas range from the rural towns of Jamestown and St. George to the vibrant, urban areas of Charleston and North Charleston. The growing demand for housing has spawned a number of new residential opportunities throughout the region, and most price ranges are well represented.

Single Family Homes

Although selling prices vary greatly throughout the market, the estimated purchase price for a newly built home with 2,400 square feet (223 square meters) of living space is $274,887. This new home typically has three to four bedrooms and two full baths, and is located in a typical middle management, executive household neighborhood. For current residential real estate listings, visit the Charleston Trident Association of Realtors.

Residential Home Sales - Selling Price by Sub-Market

Submarket   2006 Median Selling Price  2006 Average Selling Price 
Berkeley County $171,753 $217,137
Goose Creek (zip 29455) $173,450 $187,837
Summerville (zip 29483/29485) $193,824 $200,926
Dorchester County $184,900 $206,974
Moncks Corner (zip 29461) $182,935 $196,429
Charleston County $280,000 $516,000
East of Cooper River $315,000 $400,871
Kiawah & Seabrook Islands $575,000 $728,847
North Charleston $131,900 $135,211
Peninsula Charleston (above Crosstown Expway) $289,000 $339,759
Peninsula Charleston (below Crosstown Expway) $614,500 $820,844
West Islands $239,570 $310,062
West of the Ashley River $210,000 $244,651
Wild Dunes $840,000 $905,006
Total Charleston Region $201,990 $291,056
Source: Charleston Trident Association of REALTORS

Apartment Rentals

The Charleston region has a large number of apartment rental options. The average monthly apartment rent for a two-bedroom, two-bath unfurnished apartment excluding all utilities except water is $896.

Apartments: Average Monthly Rental by Sub-Market (Feb 2007)

Submarket  1-bedroom unit  2-bedroom unit  3-bedroom unit 
Downtown Charleston $654 $731 $649
West of the Ashley River 656 745 876
Goose Creek 632 709 838
James Island 799 935 1,098
Mount Pleasant 834 961 1,055
North Charleston 587 686 781
Summerville 629 736 906
Source: Carolinas Real Data, www.aptindex.com


For information on current residential real estate offerings, visit the Charleston Trident Association of Realtors.
The climate of greater Charleston is considered "temperate to subtropical." On average, the region enjoys 230 days of sunshine each year, and the average growing season lasts 294 days.

Latitude32° 54' N
Longitude80° 02' W
Average Daily Temperature65.3° F; 18.5° C
Average Daily High75.9° F; 24.4° C
Average Daily Low54.7° F; 12.6° C
Average Days with Sunshine63%
Average Precipitation51.53"; 130.89 cm
Average Relative Humidity86%


Monthly Averages, Charleston AP

Month  Temp (°F)  Temp (°C)  Relative Humidity  Precipitation (inches)  Precipitation (centimeters)       
January 49.2 9.6 69.0% 3.20 8.13
February 51.3 10.7 67.5% 3.17 8.05
March 57.6 14.2 66.5% 3.97 10.08
April 64.9 18.3 66.5% 2.70 6.86
May 72.6 22.6 69.0% 3.51 8.92
June 78.6 25.9 72.5% 5.77 14.66
July 81.4 27.5 75.0% 7.34 18.64
August 80.5 26.9 76.5% 6.82 17.32
September 76.3 24.6 76.0% 5.38 13.67
October 66.8 19.3 72.5% 2.93 7.44
November 58.0 14.4 70.0% 2.33 5.92
December 50.8 10.4 69.5% 2.95 7.49
Annual 65.7 18.7 71.0% 50.08 127.20
Source: Southeast Regional Climate Center
Compared to many other thriving coastal communities, Charleston offers a reasonable cost of living according to the ACCRA Cost of Living Index. This quarterly survey compares relative living costs for middle-management households among US metropolitan areas and cities. Charleston residents also get a break when it comes to taxes, with the area's state and local tax burden significantly lower than the national average.



Components Index
Grocery Items102.3
Housing90.6
Utilities102.2
Transportation96.8
Health Care109.5
Miscellaneous Goods and Services102.1
All Items (Composite)98.7

Source: ACCRA Cost of Living Index, Q2/2007
Prepared by: Center for Business Research, Charleston Metro Chamber of Commerce




Tax Burden, 2005

  South Carolina  United States 
State and Local Taxes Total $2,779 $3,698
    Property $880 $1,132
    Sales & Use $714 $887
    Individual Income $634 $813
    Corporate Income $58 $145
State and Local Taxes per $1,000 of Personal Income $103.85 $112.84
Source: TaxFoundation.org using US Census Bureau data, 2007


The South Carolina tax average is lower than the United States for property, sales & use, individual and corporate income. For more information on state and local tax structure, visit Taxes & Incentives or Personal Taxes.
With more than 2,000 physicians, 10 major medical facilities and a strong commitment to medical research, the Charleston region offers a vital health and wellness community. Three nationally recognized hospital systems serve the region, as well as numerous medical centers considered among the best in the United States. In all, more than 24,000 people are employed by the local healthcare industry.

Major Hospitals & Medical Facilities

Major Hospitals & Medical FacilitiesContactBeds/Employees
Charleston Memorial Hospitalwww.musc.edu/cmh172 beds; 135 employees
East Cooper Medical Centerwww.eastcoopermedctr.com100 beds; 600 employees
Medical University of South Carolina (MUSC)www.musc.edu752 beds; 10,000 employees
Ralph H. Johnson V.A. Medical Centerwww.charleston.va.gov145 beds; 1,100 employees
Roper St. Francis Healthcare Two area hospital facilitieswww.ropersaintfrancis.com594 beds; 2,900 employees
Trident Health System Two area hospital facilitieswww.tridenthealthsystem.com390 beds; 2,000 employees
Naval Health Clinic Charlestonwww.nhchasn.med.navy.mil540 employees
Source: Center for Business Research, 9/07
Charleston area residents actively support the performing and visual arts - including a world-class symphony orchestra, a ballet company, several stage companies, a number of museums and a growing base of art galleries. In fact, AmericanStyle magazine lists the Charleston area as one of the Top 10 Art Destinations in the United States.

For the outdoors enthusiast, acres of freshwater lakes, a large national forest, miles of beaches and 160 parks provide the perfect setting for numerous outdoor activities, including sailing, kayaking, fishing, hiking, hunting, windsurfing and water skiing.

To learn more about lifestyle options in the Charleston region, visit our Living & Working Here section.