The typical owner-occupied home in Cheraw is worth about $125,000, 77% below the Colorado median of $539,400 and 62% below the national median of $332,700. Owners pay a median $339 a year in property taxes, about 0.27% of their home's value, lower than the Colorado rate of 0.48%. The median household earns $52,857 a year, so the median home costs 2.4 times the median income (5.6 times for Colorado). 71% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Cheraw at a glance
| Cheraw | Colorado | U.S. | |
|---|---|---|---|
| Median home value | $125,000 | $539,400 | $332,700 |
| Median property tax paid per year | $339 | $2,602 | $3,119 |
| Property tax as a share of value | 0.27% | 0.48% | 0.94% |
| Median household income | $52,857 | $95,470 | $80,734 |
| Homes lived in by their owners | 71% | 66% | 65% |
| Owner homes with a mortgage | 47% | 69% | 61% |
| Median monthly costs, owners with a mortgage | $1,264 | $2,326 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 22.1% | 21.0% |
| Median rent | $1,021 | $1,761 | $1,413 |
| Rent as a share of renters' income | 27.5% | 31.4% | 30.6% |
| Median year homes were built | 1950 | 1988 | 1980 |
| Vacant homes | 0.0% | 8.3% | 10.1% |
| Population | 188 | 5,862,189 | 334,922,499 |
What a typical home costs per month in Cheraw
At this week's average 30-year rate of 7.11%, buying the median Cheraw home of $125,000 with 20% down costs about $753 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $961, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $32,268 for the 20%-down payment. That payment is 17% of the median Cheraw household income of $52,857; at that income and 20% down, the 28% guideline points to a home of about $205,000.
The median rent here is $1,021 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $25,000 |
|---|---|
| Loan amount | $100,000 |
| Principal and interest | $673 |
| Property taxes (0.27% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $753 |
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| Down payment | $4,375 |
|---|---|
| Loan amount | $122,736 |
| Principal and interest | $826 |
| Property taxes (0.27% a year) | $28 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $55 |
| Total per month | $961 |
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Questions about home buying in Cheraw
What is the median home value in Cheraw?
About $125,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cheraw?
Homeowners pay a median $339 a year, which is about 0.27% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Cheraw?
For the median home with 20% down at 7.11%, the payment is about $753 a month. Keeping that under 28% of gross income takes about $32,268 a year.
More about Cheraw
- Mortgage Refinance in Cheraw
- Debt Relief in Cheraw
- Home Equity Loans in Cheraw
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data