Cost of Living in Savannah Lakes Village
The cost of living is one of the biggest factors people consider when choosing a new community. Savannah Lakes Village is widely recognized as one of the most affordable lakefront active adult communities in the Southeast due to lower taxes, optional golf memberships, and excellent value for amenities. This guide breaks down home prices, taxes, utilities, HOA fees and how SLV compares to nearby markets.
Overview: Why SLV Is More Affordable Than Comparable Communities
Savannah Lakes Village offers an impressive combination of affordability, lake access and amenities, making it one of the strongest values in South Carolina. Most residents find their overall monthly expenses are significantly lower than coastal areas, metro areas and high density 55 plus developments.
- Low South Carolina property taxes
- No tax on Social Security income
- Affordable home prices for lake and golf amenities
- Optional golf memberships
- Reasonable HOA fees
- Lower insurance costs than coastal regions
Home Prices in Savannah Lakes Village
Compared to other lakefront and golf communities in the region, SLV offers strong value across its resale homes, new construction and lake lots.
- Resale homes: Moderate pricing with variety from golf view to lake access
- New construction: Modern layouts with competitive pricing
- Lake lots: Excellent value compared to coastal or high demand lakes
For buyers relocating from high cost states, SLV prices are often significantly lower than expected for a lake and golf community.
Property Taxes and South Carolina Tax Benefits
South Carolina is known as a retirement friendly tax state, with advantages that directly benefit SLV residents:
- No tax on Social Security income
- Generous deductions for other retirement income
- Homestead exemption for qualifying residents
- Lower millage rates than many urban or coastal counties
Most residents find their annual property tax bill is much lower than expected for a lake and golf access community.
SLV HOA Fees: What You Get for the Money
SLV HOA fees are well balanced for the amount of recreation and community amenities offered. Homeowners enjoy access to:
- Recreation center with indoor and outdoor pools
- Fitness center and group classes
- Walking and biking trails
- Community events, clubs and social programs
- Lake access points and community amenities
Golf and fitness center memberships are optional, which helps keep overall living costs more flexible than typical active adult communities.
Comparison Table: SLV vs Nearby Markets
| Category | SLV / McCormick | Aiken | Greenwood | Augusta |
|---|---|---|---|---|
| Home Prices | Lower for lake and golf amenities | Moderate | Moderate | Higher in desirable areas |
| Property Taxes | Lower | Moderate | Moderate | Higher |
| Utilities | Moderate to low | Moderate | Moderate | Moderate to high |
| Insurance Costs | Lower than coastal | Lower | Lower | Moderate |
Everyday Expenses
Daily costs in SLV are similar to other small Southern towns but usually lower than nearby metro areas. Residents enjoy:
- Moderate grocery and food prices
- Lower fuel use thanks to minimal traffic
- Affordable dining, local services and home maintenance
- Lower insurance premiums than many high growth regions
Overall, most people find SLV delivers excellent value without sacrificing quality of life or amenities.
Considering a Move to Savannah Lakes Village?
Greene Advantage Real Estate can help you compare home options, neighborhoods, taxes and lifestyle benefits. Let us guide you like a local.
Schedule a ConsultationFrequently Asked Questions
Are property taxes low in Savannah Lakes Village?
Yes. Property taxes in McCormick County are lower than many metro or coastal counties in the Southeast.
Is SLV more affordable than coastal retirement communities?
Generally yes. SLV offers lake access, nature and amenities without coastal pricing or coastal insurance costs.
Are golf memberships required?
No. Golf is optional and you only pay for what you use.
How much are HOA fees in SLV?
HOA fees are moderate and provide access to recreation centers, pools, trails and community amenities.
Are utilities expensive in SLV?
Utilities tend to be moderate, with lower daily usage due to minimal traffic and fewer long commutes.
Does SLV have hidden fees?
No. Golf is optional, and the community does not have mandatory country club dues common in other areas.
Is lake living more expensive?
Not in SLV. Home insurance and taxes are lower compared to coastal lake or oceanfront communities.
Are groceries and daily expenses reasonable?
Yes. Costs are similar to other small towns and often lower than larger cities nearby.