New Mexico vs South Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Mexico and South Carolina. Updated for 2026.
Metric
New Mexico
South Carolina
Median Home Price
$280K
$305K
Property Tax Rate
0.8%
0.57%
Avg Closing Costs
$4K
$4K
Closing Cost %
1.4%
1.3%
Transfer Tax
None
0.37%
Homeowners Insurance
$1,900/yr
$2,600/yr
First-Time Buyer Program
MFA First Home
FIRSTDown DPA assistance
SC Housing Palmetto Home
Up to $8,000 forgivable
Verdict
New Mexico wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $280K and lower overall costs, New Mexico offers meaningful savings compared to South Carolina. Both states offer first-time buyer programs — explore the state pages for full details.