The typical owner-occupied home in Charleston is worth about $217,400, 24% below the Tennessee median of $286,700 and 35% below the national median of $332,700. Owners pay a median $778 a year in property taxes, about 0.36% of their home's value, lower than the Tennessee rate of 0.50%. The median household earns $72,763 a year, so the median home costs 3.0 times the median income (4.1 times for Tennessee). 79% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Charleston at a glance
| Charleston | Tennessee | U.S. | |
|---|---|---|---|
| Median home value | $217,400 | $286,700 | $332,700 |
| Median property tax paid per year | $778 | $1,442 | $3,119 |
| Property tax as a share of value | 0.36% | 0.50% | 0.94% |
| Median household income | $72,763 | $69,595 | $80,734 |
| Homes lived in by their owners | 79% | 67% | 65% |
| Owner homes with a mortgage | 68% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,131 | $1,566 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 19.6% | 21.0% |
| Median rent | $881 | $1,189 | $1,413 |
| Rent as a share of renters' income | 19.5% | 29.5% | 30.6% |
| Median year homes were built | 1994 | 1987 | 1980 |
| Vacant homes | 13.1% | 10.2% | 10.1% |
| Population | 956 | 7,066,383 | 334,922,499 |
What a typical home costs per month in Charleston
At this week's average 30-year rate of 7.11%, buying the median Charleston home of $217,400 with 20% down costs about $1,326 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,688, 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 $56,819 for the 20%-down payment. That payment is 22% of the median Charleston household income of $72,763; at that income and 20% down, the 28% guideline points to a home of about $278,000.
The median rent here is $881 a month, so owning the median home costs about $445 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $43,480 |
|---|---|
| Loan amount | $173,920 |
| Principal and interest | $1,170 |
| Property taxes (0.36% a year) | $65 |
| Homeowners insurance (our estimate, 0.5% a year) | $91 |
| PMI | $0 |
| Total per month | $1,326 |
Change the numbers in the calculator
| Down payment | $7,609 |
|---|---|
| Loan amount | $213,462 |
| Principal and interest | $1,436 |
| Property taxes (0.36% a year) | $65 |
| Homeowners insurance (our estimate, 0.5% a year) | $91 |
| FHA mortgage insurance | $96 |
| Total per month | $1,688 |
Change the numbers in the calculator
Questions about home buying in Charleston
What is the median home value in Charleston?
About $217,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Charleston?
Homeowners pay a median $778 a year, which is about 0.36% 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 Charleston?
For the median home with 20% down at 7.11%, the payment is about $1,326 a month. Keeping that under 28% of gross income takes about $56,819 a year.
More about Charleston
- Mortgage Refinance in Charleston
- Debt Relief in Charleston
- Home Equity Loans in Charleston
- 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