The typical owner-occupied home in Isle Of Palms is worth about $1,581,300, 6.1 times the South Carolina median of $259,000 and 4.8 times the national median of $332,700. Owners pay a median $3,480 a year in property taxes, about 0.22% of their home's value, lower than the South Carolina rate of 0.48%. The median household earns $156,979 a year, so the median home costs 10.1 times the median income (3.7 times for South Carolina). 93% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Isle Of Palms at a glance
| Isle Of Palms | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $1,581,300 | $259,000 | $332,700 |
| Median property tax paid per year | $3,480 | $1,251 | $3,119 |
| Property tax as a share of value | 0.22% | 0.48% | 0.94% |
| Median household income | $156,979 | $69,324 | $80,734 |
| Homes lived in by their owners | 93% | 72% | 65% |
| Owner homes with a mortgage | 53% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $3,777 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 24.1% | 19.7% | 21.0% |
| Median rent | $2,893 | $1,180 | $1,413 |
| Rent as a share of renters' income | 20.4% | 31.1% | 30.6% |
| Median year homes were built | 1986 | 1992 | 1980 |
| Vacant homes | 55.5% | 13.3% | 10.1% |
| Population | 4,362 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Isle Of Palms
At this week's average 30-year rate of 7.11%, buying the median Isle Of Palms home of $1,581,300 with 20% down costs about $9,459 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $12,347, 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 $405,376 for the 20%-down payment. That payment is 72% of the median Isle Of Palms household income of $156,979; at that income and 20% down, the 28% guideline points to a home of about $612,000.
The median rent here is $2,893 a month, so owning the median home costs about $6,566 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $316,260 |
|---|---|
| Loan amount | $1,265,040 |
| Principal and interest | $8,510 |
| Property taxes (0.22% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $659 |
| PMI | $0 |
| Total per month | $9,459 |
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| Down payment | $55,346 |
|---|---|
| Loan amount | $1,552,659 |
| Principal and interest | $10,445 |
| Property taxes (0.22% a year) | $290 |
| Homeowners insurance (our estimate, 0.5% a year) | $659 |
| FHA mortgage insurance | $954 |
| Total per month | $12,347 |
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Questions about home buying in Isle Of Palms
What is the median home value in Isle Of Palms?
About $1,581,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Isle Of Palms?
Homeowners pay a median $3,480 a year, which is about 0.22% 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 Isle Of Palms?
For the median home with 20% down at 7.11%, the payment is about $9,459 a month. Keeping that under 28% of gross income takes about $405,376 a year.
More about Isle Of Palms
- Mortgage Refinance in Isle Of Palms
- Debt Relief in Isle Of Palms
- Home Equity Loans in Isle Of Palms
- 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