Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between South Carolina and Washington. 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 Washington. 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 $1,913/month ($22,956/year) compared to Washington, based on median home prices with identical loan terms.
South Carolina offers meaningfully lower home prices than Washington, with median prices running 47% less ($275K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Washington 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 Washington's 0.98%. While the rate gap of 0.41% may seem small, it translates to an annual difference of approximately $3,946 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $32K in savings.
Insurance costs favor Washington at $1,600/year versus $2,600/year in South Carolina, a difference of $1,000 annually. While not the largest cost factor, this adds up to over $10K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Closing costs are a one-time but significant expense. Washington averages $8K in closing costs (1.4% of purchase price) while South Carolina averages $4K (1.3%). Much of Washington's higher costs come from its 1.78% transfer tax, which adds $10K to the median home purchase. 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. South Carolina's SC Housing Palmetto Home provides Up to $8,000 forgivable, while Washington's WSHFC Home Advantage offers Up to $10,000 DPA. 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 $275K less than Washington on average. That translates to roughly $1,913 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.