Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Arkansas and South Carolina. Updated for 2026.
Arkansas wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $195K and lower overall costs, Arkansas offers meaningful savings compared to South Carolina. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
The monthly payment difference is $720/month — that’s $8,640/year or $259K over the life of a 30-year loan. Buying in Arkansas is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in South Carolina, you need a household income of approximately $95K/year. In Arkansas, you need $64K/year — less by $31K/year. That $31K income gap means Arkansas is accessible to a significantly wider range of households.
Arkansas offers meaningfully lower home prices than South Carolina, with median prices running 36% less ($110K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of South Carolina may find Arkansas far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Arkansas: 0.62%, South Carolina: 0.57%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Both states offer down payment assistance for first-time buyers. Arkansas's ADFA Down Payment Assistance provides Up to $15,000 DPA, while South Carolina's SC Housing Palmetto Home offers Up to $8,000 forgivable. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: Arkansas homes cost $110K less than South Carolina on average. That translates to roughly $720 less per month in total housing costs if you choose Arkansas. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.