Columbia, SC Economy


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Columbia, SC is an exciting city with a vibrant culture and numerous business opportunities. This bustling city is home to multiple companies like SCANA Corporation, Colonial Life & Accident Insurance Company, Palmetto Health and BlueCross BlueShield of South Carolina. In terms of cost of living, Columbia stands out from other cities in the US with its 2 bedroom rent being on average $1,210 compared to the US average of $1,430. Similarly, food costs are lower in Columbia compared to the US with a Grocery Cost Index of 96 versus 100 in the US. Overall, Columbia has plenty to offer for long-term residents or short-term visitors alike with its affordable cost of living and abundance of local businesses.

Columbia has an unemployment rate of 5.2%. The US average is 6.0%.

Columbia has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 27.4%, which is lower than the US average of 33.5%.

Tax Rates for Columbia
- The Sales Tax Rate for Columbia is 8.0%. The US average is 7.3%.
- The Income Tax Rate for Columbia is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Columbia
- The average income of a Columbia resident is $24,723 a year. The US average is $28,555 a year.
- The Median household income of a Columbia resident is $48,791 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyColumbia, South CarolinaUnited States
  5.26
  -1.9%-6.2%
  27.4%33.5%
  8.0%6.2%
  7.0%4.6%
  $32,954$37,638
  $48,791$69,021
  $73,526$85,028
  Population by Occupation
  0.6%1.2%
  0.0%0.5%
  4.1%6.8%
  5.4%10.0%
  1.9%2.5%
  11.0%11.0%
  3.3%4.8%
  0.7%0.8%
  1.5%1.9%
  6.3%4.7%
  2.1%1.9%
  7.8%7.6%
  0.1%0.1%
  4.7%4.2%
  13.0%9.3%
  12.9%14.0%
  2.0%2.1%
  11.4%7.0%
  4.8%4.8%
  6.4%4.7%
Reviews for Columbia
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Over 1 years ago

I love living in Columbia! I recently graduated from USC and plan to stay. I read the reviews posted here and it shows that like many cities, your experience will depend  More

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Loved living in Columbia, SC prior to my job transfer. It's the perfect size - plenty to do, but still a laid back place. People are extremely friendly, there are  More

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I moved to Columbia for graduate school and although it is a giant step up from my small, out-of-state hometown, I became bored and restless here in less than a year.  More

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