The typical owner-occupied home in Ridge Spring is worth about $69,600, 73% below the South Carolina median of $259,000 and 79% below the national median of $332,700. Owners pay a median $753 a year in property taxes, about 1.08% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $39,167 a year, so the median home costs 1.8 times the median income (3.7 times for South Carolina). 68% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Ridge Spring at a glance
| Ridge Spring | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $69,600 | $259,000 | $332,700 |
| Median property tax paid per year | $753 | $1,251 | $3,119 |
| Property tax as a share of value | 1.08% | 0.48% | 0.94% |
| Median household income | $39,167 | $69,324 | $80,734 |
| Homes lived in by their owners | 68% | 72% | 65% |
| Owner homes with a mortgage | 23% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $950 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 18.8% | 19.7% | 21.0% |
| Median rent | $640 | $1,180 | $1,413 |
| Rent as a share of renters' income | 22.8% | 31.1% | 30.6% |
| Median year homes were built | 1970 | 1992 | 1980 |
| Vacant homes | 9.6% | 13.3% | 10.1% |
| Population | 842 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Ridge Spring
At this week's average 30-year rate of 7.11%, buying the median Ridge Spring home of $69,600 with 20% down costs about $466 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $582, 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 $19,980 for the 20%-down payment. That payment is 14% of the median Ridge Spring household income of $39,167; at that income and 20% down, the 28% guideline points to a home of about $136,000.
The median rent here is $640 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $13,920 |
|---|---|
| Loan amount | $55,680 |
| Principal and interest | $375 |
| Property taxes (1.08% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $466 |
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| Down payment | $2,436 |
|---|---|
| Loan amount | $68,339 |
| Principal and interest | $460 |
| Property taxes (1.08% a year) | $63 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $31 |
| Total per month | $582 |
Change the numbers in the calculator
Questions about home buying in Ridge Spring
What is the median home value in Ridge Spring?
About $69,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ridge Spring?
Homeowners pay a median $753 a year, which is about 1.08% 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 Ridge Spring?
For the median home with 20% down at 7.11%, the payment is about $466 a month. Keeping that under 28% of gross income takes about $19,980 a year.
More about Ridge Spring
- Mortgage Refinance in Ridge Spring
- Debt Relief in Ridge Spring
- Home Equity Loans in Ridge Spring
- 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