Mortgage payment estimates, closing cost breakdowns, and homebuying data for Summerville, South Carolina.
Median Home Price
$345K
Population
54K
Avg Monthly Rent
$1,420
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 Summerville.
Summerville vs South Carolina Median
The median home price in Summerville is $345,000, which is 13% above the South Carolina state median of $305,000.
Mortgage Calculator — Summerville, SC
Pre-filled with Summerville median home price and South Carolina tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $345K home using South Carolina's 0.57% tax rate and $2,600/yr insurance.
5% Down
$2,643/mo
Down: $17,250
Loan: $328K
P&I: $2,072
Tax: $164
Insurance: $217
PMI: $191
10% Down
$2,524/mo
Down: $34,500
Loan: $311K
P&I: $1,963
Tax: $164
Insurance: $217
PMI: $181
20% Down (No PMI)
$2,125/mo
Down: $69,000
Loan: $276K
P&I: $1,745
Tax: $164
Insurance: $217
Income needed (28% rule): $91K/year with 20% down, $108K/year with 10% down.
Rent vs Buy in Summerville
Rent
$1,420/mo
vs
Buy (10% down)
$2,524/mo
Price-to-rent ratio: 20.2 — At a ratio above 20, renting may be more economical in Summerville for shorter stays. Buying costs $1,104 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Summerville is $345,000, 13% above the South Carolina state median of $305,000. With a population of 53,643, Summerville is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in South Carolina average 0.57% annually. This low property tax rate is a significant advantage for Summerville 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 Summerville is $1,420/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Summerville presents moderate affordability. The $345K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Summerville.