by Kristen Carney
Updated: June 20, 2024
The richest city in South Carolina is Kiawah Island in Charleston County with an average household income of $371,032 as of 2022. While exceptionally affluent, Kiawah Island only has a population of 1,975 as of 2023. The richest city in South Carolina with at least 5,000 people is Tega Cay in York County with an average household income of $169,602 as of 2022 and 14,057 people as of 2023 according to the most current Census data available (citation).
Rank | City | County | Population | Average Income | Median Income |
---|---|---|---|---|---|
1 | Kiawah Island | Charleston | 1,975 | $371,032 | $214,250 |
2 | Smyrna | Cherokee; York | 57 | $291,742 | -$1 |
3 | Sullivan's Island | Charleston | 1,922 | $291,546 | $171,838 |
4 | DeBordieu Colony | Georgetown | 696 | $274,191 | $237,560 |
5 | Isle of Palms | Charleston | 4,370 | $268,363 | $160,417 |
6 | Briarcliffe Acres | Horry | 545 | $243,637 | $134,375 |
7 | Pimlico | Berkeley | 2,232 | $227,005 | $134,464 |
8 | Pawleys Island | Georgetown | 135 | $224,528 | $91,250 |
9 | Seabrook Island | Charleston | 2,103 | $197,995 | $117,386 |
10 | Daufuskie Island | Beaufort | 569 | $184,115 | $146,349 |
11 | The Cliffs Valley | Greenville | 842 | $183,551 | $129,667 |
12 | Vance | Orangeburg | 124 | $180,253 | -$1 |
13 | Baxter Village | York | 4,419 | $169,811 | $141,709 |
14 | Tega Cay | York | 14,057 | $169,602 | $140,172 |
15 | Silverstreet | Newberry | 166 | $164,056 | $97,500 |
16 | Lake Murray of Richland | Richland | 6,914 | $163,081 | $111,477 |
17 | Five Forks | Greenville | 18,592 | $160,957 | $133,750 |
18 | Mount Pleasant | Charleston | 95,232 | $155,726 | $115,167 |
19 | Fort Mill | York | 33,626 | $146,042 | $128,125 |
20 | Hilton Head Island | Beaufort | 38,097 | $141,072 | $93,694 |
We usually suggest using median income data – either instead of or in addition to – average income data as a true indicator of wealth. If you haven’t thought about median versus average since your last standardized test, you aren’t alone. Here’s what they are:
Now let’s say you had the following simplified set of income data.
Household 1: $30,000
Household 2: $50,000
Household 3: $1,000,000
The average income for this set is $360,000. The outlier data point ($1,000,000) skews the average WAY up. Conversely, the average income would be skewed WAY down if someone had an income of $500. The median income for the same data set is $50,000. Outlier data doesn’t skew the median.
So most business owners should use the median income as a true indicator of wealth, because it provides a more accurate representation of a typical income, especially in areas with significant income disparity.
If your target market is high-income households, the average income may be more relevant. This is because the average income can highlight the presence of a higher concentration of wealthy individuals, which is beneficial for luxury goods and services marketing. We’re using average income on this page because using the Census’s highest reported median value of $250,001 could result in multiple ties for the richest geography.
The Census' American Community Survey uses $250,000+ as a jam value for median income estimates to protect privacy, ensure data consistency, and simplify reporting. A "jam value" in survey data refers to a placeholder or default value used when actual data points are unavailable, incomplete, or exceed certain thresholds. We represent this jam value as $250,001 to make it easy for you to sort.
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United States Census Bureau. Annual Estimates of the Resident Population: April 1, 2020 to July 1, 2023. U.S. Census Bureau, Population Division. Web. May 2024. http://www.census.gov/.
United States Census Bureau. B01001 SEX BY AGE, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. B19013 Median Household Income, 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 7 December 2023. http://www.census.gov/.
United States Census Bureau. “DP03 SELECTED ECONOMIC CHARACTERISTICS.” 2022 American Community Survey 5-Year Estimates. U.S. Census Bureau, American Community Survey Office. Web. 07 December 2023. http://www.census.gov/.
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