The $100,000 Salary Analysis for Florence, SC

This guide strips away the hype. A $100,000 salary is a solid number on paper, but it doesn't buy the same lifestyle everywhere. Here is the raw math for Florence, South Carolina.

1. The Verification Test

We start with Gross Pay and calculate what actually hits your bank account. We assume you are a single filer taking the Standard Deduction.

• Gross Annual Salary: $100,000
• Federal Tax (Est.): -$14,368
• FICA (Social Security + Medicare): -$7,650
• SC State Tax: -$6,150 (SC has a progressive bracket; 6.5% on income over $16,180. It is not tax-free like TX or FL, but lower than CA/NY).
• Net Annual Pay: $71,832
• Monthly Take-Home: $5,986

Verdict: You are losing roughly 28% of your gross income to taxes immediately.

2. Smart Budget (50/30/20 Rule)

Using your monthly take-home of $5,986, here is how the standard budget breaks down in Florence.

Needs (50% = $2,993/mo)

• Rent (1BR Avg): $792 (This is the anchor; Florence rent is historically low).
• Utilities (Electric/Heat/Water): $180
• Groceries: $400
• Car Payment/Insurance: $600 (Est. - Assumes you own a vehicle; public transit is limited).
• Health Insurance (Post-tax premium): $300
• Remaining for Needs: $721 (Buffer for maintenance or medical).

Wants (30% = $1,796/mo)

• Dining/Entertainment: $600
• Shopping/Hobbies: $500
• Travel/Streaming/Subscriptions: $300
• Remaining for Wants: $396

Savings (20% = $1,197/mo)

• Emergency Fund / Retirement: $1,197
• Note: This is the "Wealth Builder" bucket. If you keep rent low, this number is your path to financial independence.

3. Florence Tax Context

South Carolina sits in the middle of the tax spectrum.

• Vs. Tax-Free (Texas/Florida): You pay roughly $6,150 more in state income tax than you would in Austin or Orlando. To match the net pay of a $100k job in Florence, you would need to make roughly $93,500 in Texas or Florida.
• Vs. High-Tax (California/NY): You save roughly $5,000 - $7,000 annually in state taxes compared to Los Angeles or NYC.

The Trade-off: SC taxes your income, but offsets it with significantly lower property taxes and insurance costs compared to the national average.

4. FAQ

"Is $100k good here?"
Yes. It is a high earner's salary for the area. The median household income in Florence is roughly $50,000. With the low rent average ($792), a $100k salary allows for a lifestyle well above the national average, provided you avoid "lifestyle creep."

"Local income tax?"
No. Florence does not levy a local city income tax. You only pay Federal and State (SC) taxes.

"Will I be rich?"
If you invest the $1,197 monthly savings bucket? Yes, eventually. If you spend it? You'll just be comfortable.