The typical owner-occupied home in Nichols is worth about $81,700, 68% below the South Carolina median of $259,000 and 75% below the national median of $332,700. Owners pay a median $544 a year in property taxes, about 0.67% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $40,208 a year, so the median home costs 2.0 times the median income (3.7 times for South Carolina). 79% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Nichols at a glance
| Nichols | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $81,700 | $259,000 | $332,700 |
| Median property tax paid per year | $544 | $1,251 | $3,119 |
| Property tax as a share of value | 0.67% | 0.48% | 0.94% |
| Median household income | $40,208 | $69,324 | $80,734 |
| Homes lived in by their owners | 79% | 72% | 65% |
| Owner homes with a mortgage | 23% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,234 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 24.6% | 19.7% | 21.0% |
| Median rent | – | $1,180 | $1,413 |
| Median year homes were built | 1966 | 1992 | 1980 |
| Vacant homes | 29.8% | 13.3% | 10.1% |
| Population | 240 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Nichols
At this week's average 30-year rate of 7.11%, buying the median Nichols home of $81,700 with 20% down costs about $519 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $655, 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 $22,257 for the 20%-down payment. That payment is 15% of the median Nichols household income of $40,208; at that income and 20% down, the 28% guideline points to a home of about $148,000.
| Down payment | $16,340 |
|---|---|
| Loan amount | $65,360 |
| Principal and interest | $440 |
| Property taxes (0.67% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| PMI | $0 |
| Total per month | $519 |
Change the numbers in the calculator
| Down payment | $2,860 |
|---|---|
| Loan amount | $80,220 |
| Principal and interest | $540 |
| Property taxes (0.67% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| FHA mortgage insurance | $36 |
| Total per month | $655 |
Change the numbers in the calculator
Questions about home buying in Nichols
What is the median home value in Nichols?
About $81,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Nichols?
Homeowners pay a median $544 a year, which is about 0.67% 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 Nichols?
For the median home with 20% down at 7.11%, the payment is about $519 a month. Keeping that under 28% of gross income takes about $22,257 a year.
More about Nichols
- Mortgage Refinance in Nichols
- Debt Relief in Nichols
- Home Equity Loans in Nichols
- 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