The typical owner-occupied home in Conway is worth about $260,900, about the same as the South Carolina median of $259,000 and 22% below the national median of $332,700. Owners pay a median $1,024 a year in property taxes, about 0.39% of their home's value, lower than the South Carolina rate of 0.48%. The median household earns $56,650 a year, so the median home costs 4.6 times the median income (3.7 times for South Carolina). 65% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Conway at a glance
| Conway | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $260,900 | $259,000 | $332,700 |
| Median property tax paid per year | $1,024 | $1,251 | $3,119 |
| Property tax as a share of value | 0.39% | 0.48% | 0.94% |
| Median household income | $56,650 | $69,324 | $80,734 |
| Homes lived in by their owners | 65% | 72% | 65% |
| Owner homes with a mortgage | 64% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,341 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 19.7% | 21.0% |
| Median rent | $866 | $1,180 | $1,413 |
| Rent as a share of renters' income | 30.9% | 31.1% | 30.6% |
| Median year homes were built | 2001 | 1992 | 1980 |
| Vacant homes | 8.5% | 13.3% | 10.1% |
| Population | 27,263 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Conway
At this week's average 30-year rate of 7.11%, buying the median Conway home of $260,900 with 20% down costs about $1,598 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,032, 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 $68,467 for the 20%-down payment. That payment is 34% of the median Conway household income of $56,650; at that income and 20% down, the 28% guideline points to a home of about $216,000.
The median rent here is $866 a month, so owning the median home costs about $732 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $52,180 |
|---|---|
| Loan amount | $208,720 |
| Principal and interest | $1,404 |
| Property taxes (0.39% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| PMI | $0 |
| Total per month | $1,598 |
Change the numbers in the calculator
| Down payment | $9,132 |
|---|---|
| Loan amount | $256,174 |
| Principal and interest | $1,723 |
| Property taxes (0.39% a year) | $85 |
| Homeowners insurance (our estimate, 0.5% a year) | $109 |
| FHA mortgage insurance | $115 |
| Total per month | $2,032 |
Change the numbers in the calculator
Questions about home buying in Conway
What is the median home value in Conway?
About $260,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Conway?
Homeowners pay a median $1,024 a year, which is about 0.39% 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 Conway?
For the median home with 20% down at 7.11%, the payment is about $1,598 a month. Keeping that under 28% of gross income takes about $68,467 a year.
More about Conway
- Mortgage Refinance in Conway
- Debt Relief in Conway
- Home Equity Loans in Conway
- 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