Cost of Living & Housing in Walterboro
Walterboro reads as genuinely affordable by its most recent sold-price data -- but a real, disclosed gap between listing and closing prices, alongside South Carolina's real, two-bracket income tax, matters before treating any single number as settled.
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Learn moreHousing: a real gap between asking and closing prices
Redfin's most recent sold-price data showed a $200,000 median sale price, down a sharp 20.2% year over year (base record). That sits in real, disclosed tension with Movoto's considerably higher $305,000 median listing price the same period -- a genuine gap between what sellers are asking and what buyers are actually paying in what Redfin itself characterizes as a not-very-competitive market. Verify current listings directly rather than anchoring on either figure alone.
South Carolina's real, two-bracket income tax
South Carolina is not a no-income-tax state and not a flat-rate state: under Act 110 (signed March 30, 2026), SC taxable income is taxed at 1.99% up to $30,000 and 5.21% above that, with Social Security fully exempt and age-65/retirement-income deductions coordinated (not additive) up to a combined $15,000 cap (base record).
A moderate combined sales tax and a low property tax rate
Walterboro's combined sales tax rate is 8% (6% state + 1% Colleton County + 1% special district) -- one point below Folly Beach's 9% coastal rate elsewhere in this dataset's SC Tier C batch, and one point above Walhalla's 6% flat rate. Colleton County's average effective property tax rate is cited at approximately 0.55%, well below the roughly 1.02% national median (base record).
A real, disclosed poverty rate worth understanding honestly
Median household income is $56,457 with a 28.2% poverty rate (2024 ACS) -- a real figure meaningfully above the South Carolina statewide average, disclosed here rather than smoothed over (base record). Affordability and economic hardship coexist in this market; both are real.
Key takeaways
- Redfin's most recent sold-price median ($200,000, down 20.2% YoY) runs well below Movoto's $305,000 median listing price for the same period -- a real, disclosed gap in a market Redfin itself calls not very competitive.
- South Carolina's real Act 110 income tax (1.99% under $30,000 taxable income, 5.21% above) applies here as statewide, with Social Security fully exempt and coordinated 65+ deductions capped at $15,000 combined.
- Walterboro's combined 8% sales tax and roughly 0.55% effective Colleton County property tax rate both run moderate to low by national standards.
- A real, disclosed 28.2% poverty rate runs meaningfully above the South Carolina statewide average -- genuine affordability and genuine economic hardship coexist here.
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