How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will decrease by approximately $629 per month ($7,548/year) when you move from Virginia to South Carolina.
If you sell your median-priced Virginia home ($400K) and buy in South Carolina ($305K):
Your Virginia equity covers the 20% down payment on a median South Carolina home with $59K left over. That surplus can cover closing costs, moving expenses, or go into savings.
Over 10 years, this move saves you approximately $75K in housing costs alone.
Your dollar stretches further in South Carolina. The median home costs 24% less than in Virginia, which translates to a $95K difference in purchase price. This means a smaller loan, a lower monthly payment, and less total interest paid over the life of your mortgage.
Insurance will cost you more in South Carolina — $2,600/year compared to $1,700/year in Virginia. That's an extra $900 annually ($75/month). Shop multiple carriers to find the best rate.
When you buy in South Carolina, expect about $4K in closing costs (1.3% of purchase price). This includes a 0.37% transfer tax. Budget for this amount on top of your down payment.
South Carolina's SC Housing Palmetto Home offers Up to $8,000 forgivable. If you haven't owned a home in three years (or are buying in South Carolina for the first time), you may qualify. Check eligibility requirements and income limits on South Carolina's housing finance agency website.