Mississippi vs South Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Mississippi and South Carolina. Updated for 2026.
Metric
Mississippi
South Carolina
Median Home Price
$175K
$305K
Property Tax Rate
0.8%
0.57%
Avg Closing Costs
$2K
$4K
Closing Cost %
1.4%
1.3%
Transfer Tax
None
0.37%
Homeowners Insurance
$2,400/yr
$2,600/yr
First-Time Buyer Program
MHC Smart Solution
Up to $10,000 DPA
SC Housing Palmetto Home
Up to $8,000 forgivable
Verdict
Mississippi wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $175K and lower overall costs, Mississippi offers meaningful savings compared to South Carolina. Both states offer first-time buyer programs — explore the state pages for full details.