Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Massachusetts and South Carolina. Updated for 2026.
South Carolina wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $305K and lower overall costs, South Carolina offers meaningful savings compared to Massachusetts. 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.
Buying in South Carolina saves you approximately $2,175/month ($26,100/year) compared to Massachusetts, based on median home prices with identical loan terms.
South Carolina offers meaningfully lower home prices than Massachusetts, with median prices running 49% less ($290K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Massachusetts may find South Carolina far more accessible, particularly when combined with local down payment assistance programs.
South Carolina has a moderate property tax advantage at 0.57% versus Massachusetts's 1.2%. While the rate gap of 0.63% may seem small, it translates to an annual difference of approximately $5,402 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $43K in savings.
Closing costs are a one-time but significant expense. Massachusetts averages $10K in closing costs (1.6% of purchase price) while South Carolina averages $4K (1.3%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Massachusetts's MassHousing DPA provides Up to $50,000 DPA loan, 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: South Carolina homes cost $290K less than Massachusetts on average. That translates to roughly $2,175 less per month in total housing costs if you choose South Carolina. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.