South Carolina Mortgage Calculator

Calculate your monthly mortgage payment in South Carolina. Pre-filled with South Carolina's average property tax rate of 0.57%. See principal, interest, PMI, property taxes, and insurance.

$70,000

Monthly Payment Breakdown

Principal & Interest
$1,770
Property Tax
$166
Homeowner's Insurance
$100
Total Monthly Payment
$2,036

Loan Summary

Home Price
$350,000
Down Payment
$70,000
Loan Amount
$280,000
Total Interest
$357,125
Total Cost(P&I + down payment)
$707,124

See how this mortgage fits your financial plan

Your estimated payment is $2,036/month. See how it fits alongside your income, savings, investments, and other expenses over time.

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South Carolina Housing Overview

South Carolina has an average property tax rate of 0.57%. South Carolina's cost of living is about 8% below the national average.

Property Tax: 0.57%Progressive rates up to 6.4%0% bracket on first $3,460No tax on Social Security

Buying a Home in South Carolina

If you're considering buying a home in South Carolina, understanding the local housing market and costs is essential. Property taxes, insurance rates, and home prices vary significantly by area within the state. This calculator pre-fills South Carolina's average property tax rate of 0.57% to give you a more accurate estimate.

South Carolina Property Taxes

South Carolina has an average effective property tax rate of 0.57%. Property taxes are a significant component of your monthly housing cost — on a $350,000 home, a 0.57% rate means approximately $1995 per year, or $166 per month in property taxes alone.

Cost of Living in South Carolina

South Carolina's cost of living is about 8% below the national average. When evaluating whether to buy a home in South Carolina, consider how your mortgage payment plus other housing costs fit within the recommended 28% of gross income guideline.

Financial Tips for South Carolina Homebuyers

  • South Carolina's 0% bracket on the first $3,460 provides a small tax break for all earners
  • South Carolina has a low cost of living and is growing rapidly
  • South Carolina does not tax Social Security benefits
  • Charleston and Greenville-Spartanburg are growing job markets in tech and manufacturing

Key South Carolina Features

  • Progressive rates up to 6.4%
  • 0% bracket on first $3,460
  • No tax on Social Security
  • Rapidly growing metro areas

See How Your South Carolina Mortgage Fits Your Financial Plan

This calculator shows your South Carolina mortgage payment. Trajectoryy's full simulator shows how that payment fits alongside your income, taxes, savings, investments, and more.

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Compare South Carolina Mortgage Costs with Other States

North Carolina0.78% property taxGeorgia0.92% property taxCalifornia0.71% property taxNew York1.46% property taxNew Jersey2.23% property tax

Frequently Asked Questions

What is the average property tax rate in South Carolina?
The average effective property tax rate in South Carolina is approximately 0.57%. This rate is applied to the assessed value of your property, which may differ from the market value depending on South Carolina's assessment practices. Property tax rates can also vary significantly by county and municipality within the state.
How much does a typical mortgage payment cost in South Carolina?
Your mortgage payment in South Carolina depends on the home price, your down payment, interest rate, and loan term. With South Carolina's average property tax rate of 0.57%, property taxes add a meaningful amount to your monthly payment. Use the calculator above with your specific numbers to get an accurate estimate.
Is South Carolina an affordable state to buy a home?
South Carolina's cost of living is about 8% below the national average. When evaluating affordability in South Carolina, consider not just the home price but also property taxes (0.57% average), homeowner's insurance costs, and any HOA fees common in your area.
How do South Carolina property taxes compare to other states?
South Carolina's average property tax rate of 0.57% can be compared against the national average of roughly 1.1%. States like New Jersey (2.23%) and Illinois (1.97%) have among the highest rates, while Hawaii (0.28%) and Alabama (0.40%) have among the lowest.
What first-time homebuyer programs are available in South Carolina?
Most states, including South Carolina, offer first-time homebuyer programs through their state housing finance agency. These typically include down payment assistance, below-market interest rates, and closing cost grants. Check with South Carolina's housing authority and the FHA, VA, and USDA loan programs for additional options.

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