South Carolina · SC

South Carolina Mortgage Calculator

Pre-filled for South Carolina: median home price $295,000, average property tax rate 0.57%. Adjust any slider to make it yours.

South Carolina housing at a glance

Median home price: $295,000
Effective property tax rate: 0.57% / yr
Annual property tax (median home): $1,682
Est. monthly tax escrow: $140
State income tax: Yes

Sources: regional housing data 2025 (median price), state assessor averages 2024–2025 (tax rate).

Buying a home in South Carolina

The median home price in South Carolina is around $295,000 and the effective property tax rate averages 0.57%of assessed value per year. Most lenders look for a debt-to-income (DTI) ratio under 43%, meaning your total monthly debt payments (including this mortgage) shouldn't exceed 43% of your gross income.

A 20% down payment on the median home in South Carolina is $59,000. Putting down at least 20% eliminates private mortgage insurance (PMI), which typically adds 0.3–1.5% of the loan amount per year to your monthly payment.

Transfer tax & closing costs in South Carolina

South Carolina's deed recording fee is $1.85 per $500 of price (0.37%), paid by seller.

Beyond transfer taxes, total closing costs in South Carolinatypically range from 2–5% of the purchase price — including lender origination fees, title insurance, appraisal, and prepaid interest. On the median home that's roughly $5,900–$14,750.

Foreclosure & legal context

Foreclosure type: Judicial (court-supervised)
Security instrument: Mortgage
Deficiency liability: Recourse

South Carolina mortgage FAQ

What is the monthly mortgage payment for a median-priced home in South Carolina?: At the current 30-year fixed rate of ~6.81%, a $295,000 home in South Carolina with 20% down ($59,000) carries a principal-and-interest payment of ~$1,540/mo. Add property tax (~$140/mo at 0.57%) and homeowners insurance and your total is roughly $1,680/mo. Use the calculator above to adjust for your exact down payment and rate.
What is the property tax rate in South Carolina?: The effective statewide property tax rate in South Carolina averages 0.57% of assessed value per year. On a $295,000 home, that works out to roughly $1,682 per year ($140/mo). Individual county rates vary.
Does South Carolina have a state income tax?: Yes, South Carolina has a state income tax. This affects your net take-home pay and therefore your effective purchasing power — use our salary calculator to estimate what's left after tax.
What are the closing costs and transfer taxes in South Carolina?: South Carolina's deed recording fee is $1.85 per $500 of price (0.37%), paid by seller.
What type of foreclosure does South Carolina use?: South Carolina uses judicial foreclosure, meaning a lender must file a lawsuit and obtain a court judgment before selling a property.

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