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$307,777
$1,853/mo
$276,131
$79,395/yr
| Median Home Price | $307,777 |
| Down Payment (20%) | $61,555 |
| Loan Amount | $246,222 |
| Monthly PI Payment | $1,599 |
| Monthly Property Tax | $126 |
| Monthly Insurance Est. | $128 |
| Total Monthly PITI | $1,853 |
| Required Gross Income (28% rule) | $79,395/yr |
| Max Affordable Price (28% rule) | $276,131 |
$10,772
$2,393/mo
South Carolina Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $307,777 | State median |
| Down Payment (20%) | $61,555 | Conventional |
| Monthly PITI (median home) | $1,853 | 6.76% rate |
| Required Income (28% rule) | $79,395 | Annual gross |
| Max Affordable Home | $276,131 | Based on median income |
| FHA Down Payment (3.5%) | $10,772 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in South Carolina is $307,777, with a current 30-year fixed mortgage rate of 6.76%. A buyer putting 20% down on the median home would carry a loan of $246,222, resulting in a monthly principal and interest payment of $1,599. Once property taxes and insurance are added, total monthly housing costs reach $1,853.
Property taxes in South Carolina average 0.49%, well below the national average of 1.1%. On the median South Carolina home, property taxes add $126/month to total housing costs.
South Carolina levies a state income tax of 0%–6%, 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 $72,350/year can afford up to $1,688/month in total housing costs (principal, interest, taxes, and insurance). Based on South Carolina's current mortgage rate of 6.76% and property tax rate of 0.49%, that translates to a maximum affordable home price of approximately $276,131 with 20% down on a 30-year loan.
To comfortably afford the median South Carolina home priced at $307,777, you need an annual gross income of approximately $79,395. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,599, property taxes of $126, and insurance of $128) come to $1,853/month, which should not exceed 28% of your gross monthly income.
South Carolina's average property tax rate is 0.49%, which is well below the national average of 1.1%. On the median South Carolina home of $307,777, that means annual property taxes of $1,508, or $126/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 $307,777, that is $10,772. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($61,555 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.