Real South Carolina home prices, property taxes, and mortgage rates — updated for 2026.
South Carolina is a growing Southeast state with low property taxes. With a median home price of $295,000 and mortgage rates around 7% in 2026, a buyer putting 20% down pays approximately $1,852/month including principal, interest, property taxes, and homeowners insurance.
South Carolina has an effective property tax rate of 0.57% — about $1,682/year or $140/month on the median home. South Carolina property taxes are well below the national average of 1.1% — a real advantage.
💡 South Carolina primary residences are assessed at 4% vs 6% for non-primary — a big saving.
Using the 28% housing cost guideline, you need at least $79,367/year gross household income to comfortably afford the median South Carolina home.
A 20% down payment is $59,000. FHA loans allow 3.5% down ($10,325), conventional loans start at 3% ($8,850), and VA loans offer 0% down for eligible veterans. Putting less than 20% down adds PMI (~0.5%/year), removed at 20% equity.
On a 30-year loan at 7% you would pay $329,241 in total interest. A 15-year mortgage or extra principal payments can cut this significantly.
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We update our calculators regularly to reflect current rates, tax brackets, and financial regulations. The formulas and default values are reviewed quarterly. For the most current rates, always verify with your specific lender or institution.