How Much House Can I Afford in South Carolina on $175K?
Based on South Carolina's 0.57% property tax rate and $2,600/yr homeowners insurance.
Can You Afford the Median Home in South Carolina?
Yes — the median home in South Carolina is $305K, which is within your $627K budget. You have $322K of headroom, giving you flexibility to choose a better neighborhood, newer construction, or simply keep your payments comfortably below the maximum.
Affordable Cities in South Carolina on $175K
These South Carolina cities have median home prices within your $627K budget.
Up to $8,000 forgivable. First-time buyers in South Carolina should explore this program to reduce upfront costs. Combined with your $627K budget, state assistance can significantly lower the cash you need to close.
Buying a Home in South Carolina on $175K
In South Carolina, your $175K salary stretches further than the national average. Because South Carolina's 0.57% property tax rate is below the national average of 1.1%, your maximum affordable price is $627K — that is $32K more than the $595K you would get using national averages. Lower property taxes mean a smaller slice of your monthly payment goes to the county, leaving more room for the mortgage itself.
South Carolina's 0.57% property tax rate is one of the lowest in the country, which is a major advantage for homebuyers. On a $627K home, you would pay just $3,576/yr in property taxes — only $298/mo. This low tax burden is why your purchasing power in South Carolina exceeds the national average. More of your monthly payment goes toward building equity rather than taxes.
Budget $4K for closing costs in South Carolina (roughly 1.3% of the purchase price). Combined with your $62,734 down payment, you will need approximately $67K in cash to close. SC Housing Palmetto Home may help offset these costs — especially since their assistance does not need to be repaid in full. Get pre-approved with a South Carolina-based lender who understands local programs and can close efficiently.