South Carolina variant. This is a South Carolina-specific version of the Mortgage Calculator, using pre-defined local figures (tax rates, median home and income values, and typical regional costs). For the full formula, methodology, and FAQ, open the main Mortgage Calculator.
With a median home value of $295,000 and an effective property tax rate of 0.56%, a typical South Carolina mortgage payment combines principal, interest, taxes, and insurance into a meaningfully different number than the sticker price suggests.
What drives a South Carolina mortgage payment
On the $295,000 median home with 20% down ($59,000), you'd finance about $236,000. At an illustrative 6.5% 30-year fixed rate, the principal-and-interest payment is roughly $1,492/month.
South Carolina's 0.56% effective property tax adds about $138/month, and homeowners insurance plus any PMI push the all-in payment higher still. Enter your real price, rate, and down payment above for an exact figure.
About taxes and housing in South Carolina
South Carolina levies a graduated income tax with a top marginal rate just above 6%.
South Carolina has one of the lowest effective property tax rates in the country, near 0.56%, with median home values around $295,000.
South Carolina's economy features automotive and aerospace manufacturing, port logistics in Charleston, and coastal tourism.
Worked example: $295,000 home in South Carolina
Price $295,000, 20% down ($59,000), loan $236,000 at 6.5% for 30 years → P&I ≈ $1,492/mo. Add property tax ≈ $138/mo (0.56% of value ÷ 12). Total before insurance ≈ $1,629/mo.
Quick reference
- State income tax: 0-6.2% across 3 brackets
- State sales tax: 6% (plus 1.50% avg local)
- Median home value: $295,000
- Median household income: $63,623
- Effective property tax rate: 0.56%
- Avg auto insurance: $1,655/yr
Frequently Asked Questions
How much is a mortgage on a $295,000 South Carolina home?
With 20% down at 6.5% over 30 years, principal and interest run about $1,492/month, before South Carolina's 0.56% property tax and insurance.
What is the property tax rate in South Carolina?
South Carolina's effective property tax rate is about 0.56% of home value per year.