Michigan vs South Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and South Carolina. Updated for 2026.
Metric
Michigan
South Carolina
Median Home Price
$240K
$305K
Property Tax Rate
1.54%
0.57%
Avg Closing Costs
$4K
$4K
Closing Cost %
1.5%
1.3%
Transfer Tax
0.86%
0.37%
Homeowners Insurance
$1,800/yr
$2,600/yr
First-Time Buyer Program
MSHDA DPA
Up to $7,500 DPA
SC Housing Palmetto Home
Up to $8,000 forgivable
Verdict
Michigan and South Carolina are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.