South Carolina Mortgage Calculator
Estimate your monthly mortgage payment in South Carolina with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in South Carolina is $310,000 with an effective property tax rate of 0.55%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $18,810.36 | $2,771.97 | $16,038.39 | $245,228.03 |
| 1 | $1,567.53 | $224.20 | $1,343.33 | $247,775.80 |
| 2 | $1,567.53 | $225.41 | $1,342.12 | $247,550.39 |
| 3 | $1,567.53 | $226.63 | $1,340.90 | $247,323.76 |
| 4 | $1,567.53 | $227.86 | $1,339.67 | $247,095.90 |
| 5 | $1,567.53 | $229.09 | $1,338.44 | $246,866.81 |
| 6 | $1,567.53 | $230.33 | $1,337.20 | $246,636.48 |
| 7 | $1,567.53 | $231.58 | $1,335.95 | $246,404.90 |
| 8 | $1,567.53 | $232.84 | $1,334.69 | $246,172.06 |
| 9 | $1,567.53 | $234.10 | $1,333.43 | $245,937.96 |
| 10 | $1,567.53 | $235.37 | $1,332.16 | $245,702.59 |
| 11 | $1,567.53 | $236.64 | $1,330.89 | $245,465.95 |
| 12 | $1,567.53 | $237.92 | $1,329.61 | $245,228.03 |
Year 2 | $18,810.36 | $2,957.63 | $15,852.73 | $242,270.40 |
Year 3 | $18,810.36 | $3,155.69 | $15,654.67 | $239,114.71 |
Year 4 | $18,810.36 | $3,367.03 | $15,443.33 | $235,747.68 |
Year 5 | $18,810.36 | $3,592.54 | $15,217.82 | $232,155.14 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
South Carolina Housing Snapshot
| Median Home Value | $310,000 |
| Effective Property Tax Rate | 0.55% |
| Estimated Annual Property Tax | $1,705 |
| State Income Tax | Up to 6.2% (decreasing toward 6.0%) |
| Homestead Exemption | $50,000 for homeowners 65+ or disabled (assessment value reduction) |
| Avg Homeowners Insurance | $1,430/yr |
| Transfer & Recording Taxes | Deed recording fee $1.85 per $500 (0.37%) |
What Makes Buying in South Carolina Different
South Carolina offers one of the lowest effective property tax rates on owner-occupied homes in the US at 0.55%, driven by the state's '4% legal residence' assessment ratio (compared to 6% for non-primary residences). On a median $310,000 home, annual property tax runs around $1,705. State income tax tops at 6.2% with scheduled reductions toward 6.0%. Charleston has become one of the South's premium markets with median values above $525,000 in Charleston proper and $695,000 in Mount Pleasant. Greenville and Columbia remain more affordable at $335,000 and $245,000 respectively. The state has been a major destination for retirees, drawn by tax-friendly retirement income treatment and coastal lifestyle. Senior homeowners (65+) qualify for a $50,000 reduction in assessed market value. Insurance averages $1,430, with significant coastal hurricane exposure pushing premiums in coastal counties (Charleston, Beaufort, Horry) well above $3,000 per year. South Carolina law also offers a 'special purpose retirement' designation that further reduces property tax for some retirees.
Top Cities in South Carolina
| City | Median Home Value |
|---|---|
| Charleston | $525,000 |
| Columbia | $245,000 |
| Greenville | $335,000 |
| North Charleston | $305,000 |
| Mount Pleasant | $695,000 |
South Carolina assesses owner-occupied primary residences at 4% of fair market value for property tax purposes, while second homes, rentals, and commercial property are assessed at 6%. This produces a substantially lower effective tax rate on primary residences. You must apply for the 4% legal residence classification with your county assessor; it does not happen automatically.
Charleston has become one of the most expensive markets in the Southeast outside Florida and Washington DC suburbs. Median home value in Charleston proper is $525,000, and Mount Pleasant exceeds $695,000. Compare this to Columbia ($245,000) and Greenville ($335,000). The Charleston metro has seen significant California, New York, and Northeast migration since 2020.
Coastal counties (Charleston, Beaufort, Horry, Georgetown) face significant hurricane exposure. Hurricane Hugo (1989), Hurricane Matthew (2016), and other named storms have pushed insurance carriers to restrict coverage and raise premiums. Some properties require separate wind-and-hail policies through the South Carolina Wind and Hail Underwriting Association. Total coastal premiums can exceed $4,000-$6,000 per year.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.