Are you a senior looking to retire in an area that isn’t too expensive but not too boring? If so, Columbia is the perfect place. The city of Columbia has everything from world-class healthcare facilities to beautiful parks and plenty of entertainment options and cultural events. This guide will tell you all about the cost of living in Columbia, SC, for golden-age adults who want top-notch health care when they retire on a fixed income.
Affordable Places To Live When You Retire
If you’re considering moving to Columbia, South Carolina, living costs are a major factor. The best place to retire will be in an affordable place where you can live comfortably without going broke.
The average cost of living in Columbia, SC, is $46,033 annually. This number represents housing and food costs for one person who lives alone and does not have children under 18 years old living with them.
For comparison’s sake: the average yearly salary in Columbia, SC, is $30,000. In other words, your income will likely be more than enough to cover your expenses if it’s close enough to this average—but don’t expect luxury accommodations or expensive meals!
Housing May Be Your Biggest Expense
Housing costs may be your biggest expense if you’re on a fixed income. For example, the average rent for an apartment in Columbia is $1,824, according to RentJungle. That’s more than 50% higher than the national average of $1,382 per month.
If you’re relocating from a larger city or suburb where housing is more affordable, it may be difficult to adjust to these higher costs unless you can find a roommate or downsize your home.
South Carolina is a Tax-Friendly State for Retirees
When it comes to taxes, South Carolina has a few things going for it. In addition to not having a state income tax, there is no state sales tax either (although counties and municipalities may have local sales taxes). There are also no inheritance or estate taxes in South Carolina.
While the lack of many major state taxes makes a living in Columbia more affordable for aging family members, there are still some other costs associated with living in the city that retirees should be aware of before moving here full-time.
The Area Has Beautiful Weather
The average temperature in Columbia is 65 degrees, and it has a humid subtropical climate, which means you can expect plenty of sunshine. The city averages 300 days of sunshine per year. Columbia is one of the wettest cities in the U.S., with 42 inches of precipitation annually on average.
This makes it a great place to live if you enjoy warm weather and mild winters—perfect for enjoying outdoor activities like golfing or walking around Lake Murray or Congaree National Park!
The Cost of Entertainment and Traveling Is Surprisingly Low
It’s not just the cost of living that’s low in Columbia: entertainment and travel are also affordable. The city has an extensive public transportation system with buses running throughout the city and its suburbs. There are also multiple taxi companies, plus car rental agencies at both airports. If you’re looking for a fun day out with friends, try visiting one of the local museums like the South Carolina State Museum or The Museum of South Carolina Veterinary Medicine, where you can learn about life before electricity was invented! Or if you prefer something more active, take advantage of all that nature has to offer with outdoor activities such as hiking or biking through Columbia’s parks.
Conclusion
In conclusion, the cost of living in Columbia, SC can be affordable for adults in their golden years as long as they plan ahead and keep an eye on their budget.
