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Charleston, SC mortgage & affordability calculator

The typical home in Charleston, SC is worth about $420,000. With 20% down that's a loan near $336,000 — the calculator is pre-filled with that figure. Charleston's coastal desirability and tourism economy have pushed prices well above the rest of South Carolina, and hurricane exposure makes homeowners insurance a bigger line item here than inland in the state. The 4% owner-occupied assessment ratio still keeps the effective tax rate low.

$2,181.52 / month

Total interest
$449,351
Total paid
$785,351
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$84k$168k$252k$336k0612182430Year

How much you need to earn

Charleston, SC's median household income is about $72,000 a year. Under standard 28/36 lending rules that supports a home price around $282,430 with 20% down — below the $420,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$282,379 max home price

Max loan amount
$198,379
Housing payment budget
$1,680
P&I budget
$1,288
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Charleston, SC is about $1,900 a month, so owning the median home costs roughly $673 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Charleston, SC?
On the metro's roughly $420,000 typical home with 20% down, the loan is about $336,000. Principal and interest run near $2,182 a month at today's rate, and Charleston, SC's property tax plus insurance add about $392, for a full payment near $2,573.
Can I afford a home in Charleston, SC on the median income?
The median household income is about $72,000 a year. Under standard 28/36 lending rules that supports a home price around $282,430 with 20% down — below the $420,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Charleston, SC?
Typical asking rent is about $1,900 a month. The full owner payment on a median home is near $2,573, so owning costs roughly $673 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Charleston, SC?
The effective property tax rate in the core county is about 0.50% of market value — roughly $2,100 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Charleston, SC rising or falling?
Home values are up about 3% over the past year. Charleston's coastal desirability and tourism economy have pushed prices well above the rest of South Carolina, and hurricane exposure makes homeowners insurance a bigger line item here than inland in the state. The 4% owner-occupied assessment ratio still keeps the effective tax rate low.

Nearby metros

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