A new study ranks states based on household spending per capita over the past five years. South Carolina ranks 9th. Utah is the top spender per household.
In 2023, South Carolina had a per capita income of $56,123, which placed it as the 45th lowest state in the United States in terms of per capita personal income.
SC ranks 9th in household expenditure, while standing at 45th place in terms of household income. This discrepancy is a cause for concern.
On average, SC residents household spending is $9,500 higher compared to 2020. 17% of the SC resident income purchasing power has been lost in those 5 years.
Household Spending
SC residents’ household spending has increased by an average of $9,500 compared to 2020, while their purchasing power has declined by 17% during that same time frame.
Myrtle Beach’s tourism sector is widely recognized for its reputation as one of the industries with the lowest wages in the United States.
U.S. household expenses have skyrocketed by an average of 23.36% over the course of five years, from 2018 to 2022. A new study by Green Improve ranked the states with the highest household spending during this time, offering insights into economic trends and consumer behavior.
1. Utah
Utah is at the forefront of household spending growth in the United States, experiencing an astonishing per capita increase of 32% over a span of five years. The data reveals that, in 2022, residents of Utah spent an average of $11,000 more on essential household items compared to 2018.
2. Arizona
Arizona comes in a close second, experiencing a significant 31.28% rise in household expenditures. The figures indicate that the average household spending in Arizona has surged by around $12,000 compared to five years ago.
3. Colorado
Colorado takes the third spot with a 29.16% increase in household spending over the past five years. Average household expenditures on necessities surged from $45,900 in 2018 to $59,300 in 2022, demonstrating a substantial growth in spending.
4. California
California, the Golden State, ranks fourth with a 28.45% increase in per capita spending. Residents of this sunny state spent approximately $13,300 more on average in 2022 compared to 2018.
5. North Carolina
North Carolina rounds out the top five with a substantial 27.98% increase in spending. Residents of the Old North State spent approximately $10,300 more per household on average in 2022 compared to 2018.
6. Florida
Florida follows closely behind in sixth place with a 27.15% increase in spending in five years. Average household expenditures on housing and utilities surged from $43,600 in 2018 to $55,500 in 2022, reflecting a significant rise in living costs.ย
7. Idaho
Idaho holds the seventh position with a notable 27% increase in per capita spending. Residents of this Gem State have spent approximately $9,200 more on average for essential household expenses.
8. Nevada
Nevada secures the eighth position nationwide with a 26.34% increase in household spending. The Silver State’s average household expenditures surged from $40,300 in 2018 to $50,900 in 2022.
9. South Carolina
South Carolina holds the ninth position in terms of a 25.88% surge in per capita household spending. The average amount spent by residents of this state on essential household expenses in 2024 was roughly $9,500 higher compared to 2020.
10. Oregon
Oregon completes the top ten with a 25.56% increase in per capita household spending on housing and utilities. This increase is over $10,000.