The typical owner-occupied home in South Carolina is worth about $259,000, 22% below the national median of $332,700. Owners pay a median $1,251 a year in property taxes, about 0.48% of their home's value, lower than the national rate of 0.94%. The median household earns $69,324 a year, so the median home costs 3.7 times the median income (4.1 times for the U.S.). 72% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
South Carolina at a glance
| South Carolina | U.S. | |
|---|---|---|
| Median home value | $259,000 | $332,700 |
| Median property tax paid per year | $1,251 | $3,119 |
| Property tax as a share of value | 0.48% | 0.94% |
| Median household income | $69,324 | $80,734 |
| Homes lived in by their owners | 72% | 65% |
| Owner homes with a mortgage | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 19.7% | 21.0% |
| Median rent | $1,180 | $1,413 |
| Rent as a share of renters' income | 31.1% | 30.6% |
| Median year homes were built | 1992 | 1980 |
| Vacant homes | 13.3% | 10.1% |
| Population | 5,296,225 | 334,922,499 |
What a typical home costs per month in South Carolina
At this week's average 30-year rate of 7.11%, buying the median South Carolina home of $259,000 with 20% down costs about $1,605 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,037, 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 $68,802 for the 20%-down payment. That payment is 28% of the median South Carolina household income of $69,324; at that income and 20% down, the 28% guideline points to a home of about $261,000.
The median rent here is $1,180 a month, so owning the median home costs about $425 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $51,800 |
|---|---|
| Loan amount | $207,200 |
| Principal and interest | $1,394 |
| Property taxes (0.48% a year) | $104 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| PMI | $0 |
| Total per month | $1,605 |
Change the numbers in the calculator
| Down payment | $9,065 |
|---|---|
| Loan amount | $254,309 |
| Principal and interest | $1,711 |
| Property taxes (0.48% a year) | $104 |
| Homeowners insurance (our estimate, 0.5% a year) | $108 |
| FHA mortgage insurance | $115 |
| Total per month | $2,037 |
Change the numbers in the calculator
Questions about home buying in South Carolina
What is the median home value in South Carolina?
About $259,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in South Carolina?
Homeowners pay a median $1,251 a year, which is about 0.48% 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 South Carolina?
For the median home with 20% down at 7.11%, the payment is about $1,605 a month. Keeping that under 28% of gross income takes about $68,802 a year.
More about South Carolina
- Mortgage Refinance in South Carolina
- Debt Relief in South Carolina
- Home Equity Loans in South Carolina
- 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