The typical owner-occupied home in Olar is worth about $90,000, 65% below the South Carolina median of $259,000 and 73% below the national median of $332,700. Owners pay a median $683 a year in property taxes, about 0.76% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $27,500 a year, so the median home costs 3.3 times the median income (3.7 times for South Carolina). 81% of occupied homes here are lived in by their owners, and 33% of those owners still have a mortgage.
Olar at a glance
| Olar | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $90,000 | $259,000 | $332,700 |
| Median property tax paid per year | $683 | $1,251 | $3,119 |
| Property tax as a share of value | 0.76% | 0.48% | 0.94% |
| Median household income | $27,500 | $69,324 | $80,734 |
| Homes lived in by their owners | 81% | 72% | 65% |
| Owner homes with a mortgage | 33% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,594 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 19.7% | 21.0% |
| Median rent | $1,188 | $1,180 | $1,413 |
| Median year homes were built | 1969 | 1992 | 1980 |
| Vacant homes | 48.4% | 13.3% | 10.1% |
| Population | 139 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Olar
At this week's average 30-year rate of 7.11%, buying the median Olar home of $90,000 with 20% down costs about $579 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $729, 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 $24,808 for the 20%-down payment. That payment is 25% of the median Olar household income of $27,500; at that income and 20% down, the 28% guideline points to a home of about $100,000.
The median rent here is $1,188 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $18,000 |
|---|---|
| Loan amount | $72,000 |
| Principal and interest | $484 |
| Property taxes (0.76% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| PMI | $0 |
| Total per month | $579 |
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| Down payment | $3,150 |
|---|---|
| Loan amount | $88,370 |
| Principal and interest | $594 |
| Property taxes (0.76% a year) | $57 |
| Homeowners insurance (our estimate, 0.5% a year) | $38 |
| FHA mortgage insurance | $40 |
| Total per month | $729 |
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Questions about home buying in Olar
What is the median home value in Olar?
About $90,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Olar?
Homeowners pay a median $683 a year, which is about 0.76% 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 Olar?
For the median home with 20% down at 7.11%, the payment is about $579 a month. Keeping that under 28% of gross income takes about $24,808 a year.
More about Olar
- Mortgage Refinance in Olar
- Debt Relief in Olar
- Home Equity Loans in Olar
- 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