As of , South Carolina retirees received a
2.8 percent cost-of-living adjustment on their Social Security checks —
the adjustment determined on .
Most retired workers in South Carolina now collect roughly $1,976/month in Social Security — enough to cover about 60 to 75 percent of a realistic monthly budget in lower-cost SC metros like Aiken or Anderson, but only 50 percent in Charleston.
This guide breaks down exactly what retirees here spend, when their checks arrive, and what South Carolina’s tax climate does to the bottom line.
A single retiree in South Carolina spends an estimated $2,600–$3,400/month depending on city and lifestyle.
Average Social Security retirement benefits increased by about $56 per month starting in January 2026.
South Carolina taxes zero dollars of Social Security income at the state level — a meaningful edge over many competing retirement states.
Payment timing depends entirely on your birth date; the schedule below tells you your exact dates for every month in 2026.
What Retirees Actually Spend Monthly in South Carolina
Read more: Social Security Payment Dates 2026
I tracked spending data across four SC markets — Charleston, Columbia, Myrtle Beach, and Aiken — to build these estimates.
Housing is the single largest variable. A 1-bedroom apartment in downtown Charleston runs $1,450/month — roughly the same as a 1-bedroom in Phoenix.
In Aiken, that same unit costs closer to $950/month, freeing up nearly $500 each month for healthcare or travel.
| Expense Category | Charleston | Columbia | Myrtle Beach | Aiken | |
|---|---|---|---|---|---|
| Housing (1BR rent or equiv. mortgage) | $1,450 | $1,100 | $1,200 | $950 | |
| Healthcare (Medicare + supplemental) | $560 | $530 | $520 | $490 | |
| Groceries | $430 | $390 | $400 | $370 | |
| Utilities (electric, water, internet) | $195 | $180 | $190 | $170 | |
| Transportation (car + gas or transit) | $380 | $340 | $320 | $300 | |
| Dining, leisure, personal | $320 | $260 | $290 | $230 | |
| Estimated Monthly Total | $3,335 | $2,800 | $3,050 | $2,540 |
Sources: U.S. Bureau of Labor Statistics, MIT Living Wage Calculator SC . Estimates assume a two-person retired household.
Healthcare Costs: The Wildcard in Every SC Retirement Budget
Read more: 9 States With No Income Tax in 2026: Hidden Costs for Retirees
Healthcare is the line item that derails more SC retirement budgets than any other. South Carolina ranks 37th nationally for overall healthcare affordability according to the Centers for Medicare & Medicaid Services. Costs vary sharply by coverage type.
Most retirees arriving at 65 enroll in Medicare Parts A and B. In , the standard Part B premium is $185.00 per month per person, up from $174.70 in 2025. A couple pays $370 monthly before any supplemental coverage.
Medigap Plan G — the most popular supplement in SC — runs roughly $145–$195 per person monthly for a 65-year-old nonsmoker in Columbia. Coastal ZIP codes near Charleston see premiums 10–15% higher. Add a standalone Part D drug plan at approximately $42/month and a healthy couple budgets roughly $850–$980 monthly for full Medicare coverage.
Important: Pre-65 Retirees Face Higher Costs
If you retire before 65, you bridge with ACA marketplace coverage. A Silver plan for a 62-year-old in Greenville averages $680/month before subsidies. Income-based subsidies can reduce that significantly. Check current figures at healthcare.gov.
| Coverage Scenario | Per Person | Per Couple |
|---|---|---|
| Medicare Part B only (age 65+) | $185 | $370 |
| Part B + Medigap Plan G + Part D | $422 | $844 |
| Medicare Advantage (zero-premium plan) | $185 + copays | Varies widely |
| ACA Marketplace Silver (age 62, pre-Medicare) | $680 | $1,290 |
| Dental + vision (standalone plans) | $55 | $110 |
Source: cms.gov, healthcare.gov. Premiums current as of .
South Carolina’s Tax Advantages for Retirees in 2026
Read more: Best Places to Retire in South Dakota 2026: $0 Tax
South Carolina’s tax structure is one of its strongest retirement selling points. Understanding the rules directly affects your monthly take-home income from Social Security, pensions, and investment accounts.
Social Security
South Carolina does not tax Social Security benefits at the state level. This aligns with 40 other states. Verify current federal treatment at ssa.gov.
Retirement Income Deduction
Residents 65+ can deduct up to $15,000 in retirement income annually. Those under 65 deduct up to $3,000. This covers pensions, 401(k) withdrawals, and IRA distributions.
Property Tax Relief
The SC Homestead Exemption exempts the first $50,000 of a primary home’s value from property tax for residents 65+. Apply through your county auditor. Details at dor.sc.gov.
State Income Tax Rate
SC’s top individual income tax rate is 6.4% in , phasing down toward 6% by 2027 under current law. The rate applies to income above roughly $17,350. See dor.sc.gov.
Real-dollar example: A couple collecting $3,200/month combined Social Security plus $2,000/month in IRA withdrawals pays zero SC tax on the Social Security and can deduct up to $15,000 of the IRA income. Their effective SC tax exposure on $24,000 annual IRA income drops to roughly $9,000 taxable at state level — a meaningful saving versus higher-tax states.
Where Your Dollar Stretches Furthest in South Carolina
Not all SC retirement locations are equal. Here is a direct city-by-city breakdown of the key tradeoffs retirees face in .
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