The typical owner-occupied home in Folly Beach is worth about $1,000,000, 3.9 times the South Carolina median of $259,000 and 3.0 times the national median of $332,700. Owners pay a median $3,318 a year in property taxes, about 0.33% of their home's value, lower than the South Carolina rate of 0.48%. The median household earns $102,279 a year, so the median home costs 9.8 times the median income (3.7 times for South Carolina). 95% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Folly Beach at a glance
| Folly Beach | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $1,000,000 | $259,000 | $332,700 |
| Median property tax paid per year | $3,318 | $1,251 | $3,119 |
| Property tax as a share of value | 0.33% | 0.48% | 0.94% |
| Median household income | $102,279 | $69,324 | $80,734 |
| Homes lived in by their owners | 95% | 72% | 65% |
| Owner homes with a mortgage | 56% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $2,667 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 19.7% | 21.0% |
| Median rent | $1,844 | $1,180 | $1,413 |
| Rent as a share of renters' income | 34.3% | 31.1% | 30.6% |
| Median year homes were built | 1990 | 1992 | 1980 |
| Vacant homes | 72.1% | 13.3% | 10.1% |
| Population | 1,267 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Folly Beach
At this week's average 30-year rate of 7.11%, buying the median Folly Beach home of $1,000,000 with 20% down costs about $6,073 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,900, 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 $260,285 for the 20%-down payment. That payment is 71% of the median Folly Beach household income of $102,279; at that income and 20% down, the 28% guideline points to a home of about $393,000.
The median rent here is $1,844 a month, so owning the median home costs about $4,229 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $200,000 |
|---|---|
| Loan amount | $800,000 |
| Principal and interest | $5,382 |
| Property taxes (0.33% a year) | $275 |
| Homeowners insurance (our estimate, 0.5% a year) | $417 |
| PMI | $0 |
| Total per month | $6,073 |
Change the numbers in the calculator
| Down payment | $35,000 |
|---|---|
| Loan amount | $981,888 |
| Principal and interest | $6,605 |
| Property taxes (0.33% a year) | $275 |
| Homeowners insurance (our estimate, 0.5% a year) | $417 |
| FHA mortgage insurance | $603 |
| Total per month | $7,900 |
Change the numbers in the calculator
Questions about home buying in Folly Beach
What is the median home value in Folly Beach?
About $1,000,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Folly Beach?
Homeowners pay a median $3,318 a year, which is about 0.33% 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 Folly Beach?
For the median home with 20% down at 7.11%, the payment is about $6,073 a month. Keeping that under 28% of gross income takes about $260,285 a year.
More about Folly Beach
- Mortgage Refinance in Folly Beach
- Debt Relief in Folly Beach
- Home Equity Loans in Folly Beach
- 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