South Carolina is often a sought-after retirement destination within the United States. There are classic heavy-hitters like Myrtle Beach or Hilton Head Island where the median rent might make you balk, but there are also many cities with a lower cost of living, warm climate, better tax rates, rich cultural heritage and stunning shorelines.
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Retirees on a fixed income who are looking to stretch their dollars further will naturally look to potentially lower-cost areas like South Carolina. There are plenty of perks that include lower property taxes or sales taxes along with senior exemptions, no state income tax on Social Security income, reasonable deductions on other types of income and cheaper housing costs, utilities and healthcare.
It seems like a no-brainer, but is South Carolina a good choice for an aging population? GOBankingRates recently conducted a study to find the worst places to retire in South Carolina based on household median income, housing costs, quality of life, AARP livability scores and more. Here are the seven worst places you can currently retire in South Carolina.
1. Kiawah Island
- Percentage of retirement-aged people 65 and older: 59%
- AARP livability index: 44
- Average monthly mortgage payments: $13,131
- Total annual cost of living: $182,146
Though this place sounds idyllic as it is basically a private beach and resort, it’s quite expensive to live here. It’s a sea island on the Atlantic coast about 25 miles southwest of Charleston.
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2. Carlisle
- Percentage of retirement-aged people 65 and older: 11%
- AARP livability index: 37
- Average monthly mortgage payments: $502
- Total annual cost of living: $29,056
Formerly known as Fish Dam, Carlisle is located near Sumter National Forest, a well-known recreational forest. It is also minutes from Union and less than an hour from big cities such as Charlotte, Spartanburg and Columbia. Unfortunately, it’s not a top retirement spot, with only 11% of the population being retirement-aged. While it may be affordable, the area is quite low-income and has a livability score of just 37, meaning there may not be much other than nature here for retirees to enjoy.
3. Island of Palms
- Percentage of retirement-aged people 65 and older: 30%
- AARP livability index: 52
- Average monthly mortgage payments: $10,040
- Total annual cost of living: $145,979
Just because it has long shorelines, live music and picture-perfect scenery doesn’t mean you should do more than visit the Island of Palms in retirement. It is bordered by the Atlantic Ocean and the Intracoastal Waterway and is incredibly pricey to move to, especially on a fixed income.
4. Bradley
- Percentage of retirement-aged people 65 and older: 4%
- AARP livability index: 41
- Average monthly mortgage payments: $505
- Total annual cost of living: $27,464
Bradley is an unincorporated community and place located in Greenwood County, South Carolina. There is a median household income of $42,981 and AreaVibes gives it a livability score of only 56 (the AARP livability score is even less).
5. Clio
- Percentage of retirement-aged people 65 and older: 15%
- AARP livability index: 37
- Average monthly mortgage payments: $481
- Total annual cost of living: $27,982
AreaVibes only gives Clio a livability score of 58. This small town is located in Marlboro County and has a median household income of $32,847.
6. Wallace
- Percentage of retirement-aged people 65 and older: 35%
- AARP livability index: 34
- Average monthly mortgage payments: $505
- Total annual cost of living: $28,311
Wallace is also part of Marlboro County and on average residents pay about $2,359 a month in general cost-of-living expenses. AreaVibes gave it a livability score of 53.
7. Mayesville
- Percentage of retirement-aged people 65 and older: 13%
- AARP livability index: 41
- Average monthly mortgage payments: $526
- Total annual cost of living: $29,394
Mayesville may be affordable, but it comes at a cost — AreaVibes gives it a livability score of just 54, and with a population of only 670 people with just 13% being retirement-aged, it may not offer much to retirees.
Methodology: For this study, GOBankingRates analyzed cities across South Carolina to find the worst places to retire. First GOBankingRates found cities in South Carolina, and for each location, several factors were found including: total population, population ages 65 and over, total households and household median income all sourced from the U.S. Census American Community Survey. Using this data the percentage of the population ages 65 and over can be calculated. The cost-of-living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost-of-living indexes. Using the cost-of-living indexes for grocery, healthcare, utilities, transportation and miscellaneous as well as the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location can be calculated. The general Livability index was sourced from AreaVibes for each location and the AARP Livability index was sourced from AARP’s Livable Communities. The average single-family home value was sourced from Zillow Home Value Index for September 2024. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The percent population ages 65 and over was scored and weighted at 1.00 with the least being the highest, the AARP livability was scored and weighted at 1.00, the AreaVibes livability was scored and weighted at 1.00 and the total cost of living was scored and weighted at 1.50. All the scores were summed and sorted to show the worst places to retire in South Carolina. All data was collected on and is up to date as of Nov. 5, 2024.
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This article originally appeared on GOBankingRates.com: Retirement 2025: 7 Worst Places To Retire in South Carolina
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