Can I Afford a $100K Home in South Carolina?
Complete mortgage breakdown for a $100,000 home in South Carolina, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$756/mo
P&I: $526 + Tax: $47 + Insurance: $183
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $908 | $38,899 |
| 5% | $5,000 | $894 | $38,300 |
| 10% | $10,000 | $859 | $36,803 |
| 20% | $20,000 | $756 | $32,380 |
Monthly Cost Breakdown (South Carolina)
Principal & Interest
$526/mo
Property Tax (0.56%)
$47/mo
Homeowners Insurance
$183/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$32,380/yr
Minimum gross income
36% Rule (All Debt)
$25,185/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in South Carolina
A $100,000 home in South Carolina is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $756 is achievable on a salary of $32,380 or more. South Carolina's property tax rate of 0.56% is relatively low, helping keep costs down.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in South Carolina.