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South Carolina mortgage calculator

The median home in South Carolina runs about $290,000. With 20% down that's a loan near $232,000 — the calculator is pre-filled with that figure. South Carolina caps vehicle sales tax at a low flat amount and assesses owner-occupied homes at a favorable 4% ratio, giving primary residents one of the lowest effective property tax rates in the country. Coastal insurance is the exception.

$1,506.29 / month

Total interest
$310,264
Total paid
$542,264
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$58k$116k$174k$232k0612182430Year

How it works

A full South Carolina payment is more than principal and interest. At the state's 0.57% effective property tax rate, a $290,000 home owes about $1,653 a year in tax, and homeowners insurance averages roughly $2,200 a year here. Together those add about $321 to the monthly payment before any HOA dues or PMI.

South Carolina's median household income is about $68,000, or $5,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,587 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in South Carolina sell in about 50 days on average.

Frequently asked questions

What is a typical mortgage payment in South Carolina?
On the state's roughly $290,000 median home with 20% down, the loan is about $232,000. Principal and interest depend on your rate; on top of that, South Carolina's 0.57% effective property tax rate and about $2,200 a year in homeowners insurance add roughly $321 per month to the payment.
How much are property taxes on a home in South Carolina?
South Carolina's effective property tax rate averages about 0.57% of market value — roughly $1,653 a year on the $290,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in South Carolina?
The average South Carolina homeowners policy runs about $2,200 a year. South Carolina caps vehicle sales tax at a low flat amount and assesses owner-occupied homes at a favorable 4% ratio, giving primary residents one of the lowest effective property tax rates in the country. Coastal insurance is the exception.
Can I afford a home in South Carolina on the median income?
South Carolina's median household income is about $68,000 a year, or $5,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,587 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in South Carolina?
A for-sale home in South Carolina spends about 50 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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