Mortgage payment estimates, closing cost breakdowns, and homebuying data for Columbia, South Carolina.
Median Home Price
$225K
Population
137K
Avg Monthly Rent
$1,180
Property Tax Rate
0.57% *
* Property tax shown is the South Carolina state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Columbia.
Columbia vs South Carolina Median
The median home price in Columbia is $225,000, which is 26% below the South Carolina state median of $305,000.
Mortgage Calculator — Columbia, SC
Pre-filled with Columbia median home price and South Carolina tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using South Carolina's 0.57% tax rate and $2,600/yr insurance.
5% Down
$1,799/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $107
Insurance: $217
PMI: $125
10% Down
$1,722/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $107
Insurance: $217
PMI: $118
20% Down (No PMI)
$1,461/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $107
Insurance: $217
Income needed (28% rule): $63K/year with 20% down, $74K/year with 10% down.
Rent vs Buy in Columbia
Rent
$1,180/mo
vs
Buy (10% down)
$1,722/mo
Price-to-rent ratio: 15.9 — A ratio between 15-20 means the rent vs buy decision in Columbia depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Columbia is $225,000, 26% below the South Carolina state median of $305,000. With a population of 136,632, Columbia is a mid-size city where home prices tend to be more accessible than in many parts of South Carolina.
Property taxes in South Carolina average 0.57% annually. This low property tax rate is a significant advantage for Columbia buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in South Carolina runs approximately $2,600 per year. This is within the normal range nationally.
Average rent in Columbia is $1,180/month. The price-to-rent ratio in Columbia is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Columbia offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with South Carolina's SC Housing Palmetto Home program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Columbia.