What are average mortgage rates in South Carolina in 2026?

Mortgage rates in South Carolina generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's South Carolina mortgage calculator to model your payment at current rates.

How much are closing costs in South Carolina?

Closing costs in South Carolina typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's South Carolina mortgage calculator to include closing costs in your calculation.

What are property tax rates in South Carolina?

Property tax rates in South Carolina range from 0.3% to 2.5% of assessed value. CalcDeck's South Carolina calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in South Carolina?

South Carolina offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's South Carolina calculator to see how programs affect your payment.

How do I use the CalcDeck South Carolina mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match South Carolina averages. Get instant monthly payment, total interest, and amortization schedule.

South Carolina Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for South Carolina homeowners.

South Carolina at a Glance

Median Home Price: $288,000
Property Tax Rate: 0.57%
Median Household Income: $62,671
Annual Property Tax: $1,642

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in South Carolina

Based on the South Carolina median home price of $288,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$230,400	$273,600
Principal and Interest	$1,487	$1,765
Property Tax (SC)	$137	$137
Homeowners Insurance	$125	$125
PMI	$0	$114
Total Monthly	$1,749	$2,141

How Much House Can You Afford in South Carolina?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$74,937/year to afford South Carolina's median home
With 5% down, you need ~$91,769/year
South Carolina's median household income is $62,671

South Carolina insight: South Carolina's property tax rate of 0.57% is near the national average.

South Carolina Housing Market Overview

South Carolina's housing market has boomed as retirees and remote workers move south. The statewide median of $288,000 reflects Charleston at $465,000, Greenville $330,000, Columbia $260,000, and Myrtle Beach $315,000. Inventory is tight at 2.7 months. The median household income of $62,671 yields a price-to-income ratio of 4.6. The effective property tax rate of 0.57% is very low, costing $1,642/year on a median home. However, homeowners insurance is high due to hurricane risk—coastal counties see premiums of $2,000–$4,000/year. BMW and Volvo manufacturing plants have driven growth in the Upstate.

First-Time Homebuyer Programs in South Carolina

The South Carolina State Housing Finance and Development Authority (SC Housing) offers the Palmetto Heroes program, providing 30-year fixed-rate mortgages with down payment assistance up to $12,000 for teachers, nurses, police, firefighters, and veterans. The Homeownership Program offers standard first-time buyer assistance up to $8,000. SC Housing also administers the Mortgage Credit Certificate (MCC) program, providing a 20% federal tax credit on mortgage interest. Local programs include Charleston's Homeownership Initiative ($10,000 grants) and Greenville's First Time Homebuyer Program ($7,500). Income limits: Charleston County caps at $88,000 for a two-person household; rural counties cap at $68,000.

Tips for Homebuyers in South Carolina

1) South Carolina's 0.57% property tax is among the lowest in the U.S.—only ~$137/month on a median home—but insurance can be very high in coastal areas. 2) Hurricane insurance is essential for homes within 10 miles of the coast; get quotes before making an offer. 3) The Charleston market is extremely competitive for homes under $500,000; expect multiple offers within 48 hours. 4) Buy in fall/winter for less competition and 2–4% price reductions. 5) Termites are endemic in SC's warm, humid climate; always get a WDI inspection and budget $500–$800/year for treatment. 6) Radon is less of a concern in SC than northern states, but still test; levels are generally low except in some Upstate counties.

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South Carolina Mortgage FAQ

What is the median home price in South Carolina?

The median home price in South Carolina is approximately $288,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in South Carolina?

The effective property tax rate in South Carolina is approximately 0.57% (Tax Foundation). On a $288,000 home, that is about $1,642/year in property taxes.

How much income do I need to buy a home in South Carolina?

Using the 28/36 rule with 20% down at 6.7%, you would need about $74,937/year to afford the median South Carolina home at $288,000. With 5% down (including PMI), about $91,769.

What will my monthly mortgage payment be in South Carolina?

On South Carolina's median home price of $288,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,749. With 5% down including PMI, about $2,141.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.