CALCMONEY // HOME AFFORDABILITY // SC
Find out how much home you can afford in South Carolina using local median home prices, current mortgage rates, and SC-specific property tax data.
Open Full Calculator$310,000
$1,910/mo
$210,152
$81,846/yr
| Median Home Price | $310,000 |
| Down Payment (20%) | $62,000 |
| Loan Amount | $248,000 |
| Monthly PI Payment | $1,633 |
| Monthly Property Tax | $147 |
| Monthly Insurance Est. | $129 |
| Total Monthly PITI | $1,910 |
| Required Gross Income (28% rule) | $81,846/yr |
| Max Affordable Price (28% rule) | $210,152 |
$10,850
$2,459/mo
South Carolina Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $310,000 | State median |
| Down Payment (20%) | $62,000 | Conventional |
| Monthly PITI (median home) | $1,910 | 6.9% rate |
| Required Income (28% rule) | $81,846 | Annual gross |
| Max Affordable Home | $210,152 | Based on median income |
| FHA Down Payment (3.5%) | $10,850 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in South Carolina is $310,000, with a current 30-year fixed mortgage rate of 6.9%. A buyer putting 20% down on the median home would carry a loan of $248,000, resulting in a monthly principal and interest payment of $1,633. Once property taxes and insurance are added, total monthly housing costs reach $1,910.
Property taxes in South Carolina average 0.57%, well below the national average of 1.1%. On the median South Carolina home, property taxes add $147/month to total housing costs.
South Carolina levies a state income tax of 0%–6.5%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and South Carolina state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning South Carolina's median income of $59,300/year can afford up to $1,384/month in total housing costs (principal, interest, taxes, and insurance). Based on South Carolina's current mortgage rate of 6.9% and property tax rate of 0.57%, that translates to a maximum affordable home price of approximately $210,152 with 20% down on a 30-year loan.
To comfortably afford the median South Carolina home priced at $310,000, you need an annual gross income of approximately $81,846. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,633, property taxes of $147, and insurance of $129) come to $1,910/month, which should not exceed 28% of your gross monthly income.
South Carolina's average property tax rate is 0.57%, which is well below the national average of 1.1%. On the median South Carolina home of $310,000, that means annual property taxes of $1,767, or $147/month. Because lenders include property taxes in your debt-to-income calculation, South Carolina's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median South Carolina home of $310,000, that is $10,850. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($62,000 on the median South Carolina home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no South Carolina-specific minimum down payment requirements beyond federal guidelines.