What is the Real Cost of Living in Aiken?

Aiken, South Carolina, is an equestrian paradise teeming with history, outdoor fun, and beautiful homes. Located just 20 miles northeast of Augusta, Georgia, Aiken is a small-town community with a big personality. Known for its competitive polo season, which runs from April to June, the town is a haven for horse enthusiasts. Equestrian fans can also spend their days touring the Thoroughbred Racing Hall of Fame or out on the trail in a saddle.

 

If you’re thinking of relocating to this charming South Carolina town, there are a few things you should consider beforehand, such as the cost of living in Aiken. From the median cost of housing to the price of food and utilities, figuring out the cost of living before moving to a particular location is incredibly important.

 

Here is a comprehensive guide on how much it costs to live in Aiken, South Carolina.

First and foremost, figuring out the median housing costs in any area should give you a better understanding of how much you’ll need to make to live there. According to the Aiken Association of Realtors, the median home selling price in February 2023 was around $260,000. This price is actually down about two percent from last year at this same time.

 

Since buyer demand in Aiken is down from its peak levels in recent years, home price growth has slowed as well. This means sellers have been cutting prices left and right and offering sales incentives to attract new buyers. In fact, homes sold on average for around 0.96 percent below the asking price in February 2023.

When determining the cost of living in Aiken, you also need to consider the average price of utilities in the area. The cost of utilities in Aiken is slightly lower than the national average. This includes energy, gas, water, and sewer costs.

The price of food is another area to consider when figuring out the cost of living in a particular place. While these prices typically vary depending on shortages and demand, Aiken consistently ranks lower in terms of prices when compared to other parts of South Carolina and the rest of the country.

 

When eating out in Aiken, most restaurants tend to land on the moderately-priced side of the scale. This will vary from restaurant to restaurant, and your options are not limited. Aiken has everything from fast food to fine dining establishments. While eating out often will raise your food cost for the year, splurging from time to time should not break the bank considering the cost of groceries is lower than in other parts of the country.

The price of transportation is another important factor to consider when determining the cost of living in Aiken. In Aiken, a large percentage of commuters drive to work. In fact, a little less than half of those drivers commute to work outside of the city, where public transportation isn’t as far-reaching. The average time people commute to work is around 20 minutes.

 

When considering the price of gas, car maintenance, and public transportation, the Economic Policy Institute estimates that a single person living in Aiken spends around $10,560 yearly on transportation, slightly higher than the national average.

 

Of course, there are many ways to cut costs in terms of transportation. Some ways include carpooling with coworkers, walking or riding a bike for errands, or finding a job that allows remote work. Still, if you relocate to Aiken, you can expect to spend slightly more than the national average each year on transportation.

How much you make annually will heavily determine whether you can afford to live in a particular area. As of March of 2023, the median annual salary in Aiken is about $52,000, which comes out to about $24.65 per hour. While the amount you make will vary heavily by occupation and experience, most salaries in the area fall between $34,000 to $67,000.

After analyzing the cost of living in Aiken, it is clear that this South Carolina community is much more affordable than other parts of the country. From lower housing costs to cheaper utilities, Aiken is a very livable city in terms of costs. Combining that with the area’s beautiful architecture and stunning landscape, Aiken is an incredible place to live.

If living in Aiken is within your budget and you wish to relocate to the area, you need to contact a local real estate agent. Molly Brown Whitmer is one such agent with years of experience helping clients find the Aiken home of their dreams. If you’re ready to make the move, contact her today to start the process.