Considering a move to South Carolina? Here’s everything you need to know about the state, from taxes and climate to places to live and popular active adult communities.
Retiring in South Carolina Pros and Cons
Pros
- Quality healthcare – There are several prominent health care systems throughout the state. They’re nationally ranked for different specialties, including cardiac surgery, rheumatology, cancer, as well as ear, nose, and throat.
- Low taxes – South Carolina has relatively low property taxes compared to the rest of the country. Also, there are several tax exemptions and tax deductions for seniors.
- Plenty of outdoor recreation – From world-class golf courses and historic sites to water sports along the coast and mountains in the Upstate, South Carolina has no shortage of things to do to stay outdoors and active.
- Mild winters – Mild winters make it possible for residents to stay active outdoors throughout the coldest months of the year.
Cons
- The heat and humidity – While winters are mild, summers are hot and humid. High temperatures start as early as May and average in the 90s during July and August.
- Hurricane season – Because of South Carolina’s location along the eastern seaboard, the state is typically impacted by at least one hurricane a year. Coastal towns are often hit the hardest with major flooding, including Myrtle Beach and Charleston.
- High housing prices – The state has some of the lowest property taxes in the country. However, the most popular areas of the state—especially along the coast—often have high price tags on homes.
South Carolina Climate
Residents can expect to find a humid subtropical climate in South Carolina with mild winters and hot, humid summers. According to U.S. Climate Data, the average high is 75 degrees, and the annual low is 52 degrees. The warmest months of the year—July and August—see averages between 91 and 93 degrees. On the other hand, colder months see averages between 58 and 60 degrees.
Also, hurricane season can often cause problems for coastal towns during September with high winds, flooding, and possible hail damage.
South Carolina Taxes
South Carolina doesn’t tax Social Security benefits, and it boasts some of the lowest property taxes in the country. There’s also a substantial retirement income deduction for state income taxes. Additionally, there are no inheritance or estate taxes, and there are other perks for qualifying seniors.
South Carolina Property Taxes
According to SmartAsset, the average property tax rate in South Carolina is just 0.55%, with a median annual payment of $980. That’s a much better rate than the national average. Currently, households in the U.S. spend an average of $2,869 on property taxes each year, according to WalletHub.
South Carolina Retirement Income Taxes
Social Security benefits are exempt from taxation in South Carolina, and the state income tax offers some very good deductions on retirement income for residents.
South Carolina Tax Exemptions for Seniors
Senior homeowners may qualify for a homestead exemption that allows the first $50,000 of a property’s fair market value to be exempt from local property taxes. There are also no inheritance or estate taxes, which often affect widows and widowers.
South Carolina Health Care
South Carolina has a range of health care facilities that vary from large hospital systems and general practitioners to rehabilitation centers and clinics. Some of the most well-known health care facilities in the state include The Grand Strand Regional Medical Center as well as the Medical University of South Carolina (MUSC), which is renowned and nationally ranked for three adult specialties: rheumatology; ear, nose, and throat; and cancer.
Where to Live in South Carolina
Take your pick from a charming coastal city drenched in history, a bustling state capital, or a small town in the Upstate—South Carolina has it all.
The Coast
Myrtle Beach
Myrtle Beach is home to 60 miles of shoreline, endless entertainment options, countless championship golf courses, and popular shopping destinations. There are also three hospital systems in the area—Grand Strand Regional Medical Center, Georgetown Hospital System, and Loris Healthcare System. Additionally, 55+ communities in the area include Del Webb at Grande Dunes Myrtle Beach, Berkshire Forest, and Myrtle Beach Golf & Yacht Club.
Charleston
Historic Downtown Charleston is also a popular retirement destination for active adults looking to settle near the ocean. The charming city is full of things to do and interesting sites, from Revolutionary and Civil War forts to some of the most beautiful architecture in the South. Along with plenty of shopping, dining, and entertainment options, the city is also home to MUSC, giving residents easy access to top-notch health care. A few 55+ communities in the area include Cresswind Charleston, Del Webb at Cane Bay, and Del Webb Charleston at Nexton.
Hilton Head
Hilton Head offers residents everything from resort-style communities and celebrated golf courses to pristine shorelines. Also, some of the largest active adult communities in the state are located in Hilton Head. Be sure to check out Sun City Hilton Head, Latitude Margaritaville Hilton Head, and Alston Park at New Riverside.
Northwest and Central South Carolina
Atlanta
The northwestern part of the state known as the Upstate area sits along the I-85 corridor between the major cities of Charlotte, NC and Atlanta, GA. This gives residents easy access to everything in each city while also allowing for a slower pace of life in smaller towns and suburbs. Active adult communities in the Upstate include Annadale Estates, Edgewater The Cottages, as well as Four Seasons at Gold Hill.
Columbia
The state capital of Columbia is teeming with cultural amenities from museums to an expansive zoo. It’s also home to charming tree-lined streets dotted with local boutiques, antique shops, and eateries. Because of its central location, Columbia residents have easy access to the coast and Upstate. Popular communities in Central South Carolina include Hulon Green, Lexington Villas, Peach Grove Villas, as well as Savannah Lakes Village.
Retire in South Carolina With 55places!
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