New York vs South Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New York and South Carolina. Updated for 2026.
Metric
New York
South Carolina
Median Home Price
$430K
$305K
Property Tax Rate
1.72%
0.57%
Avg Closing Costs
$12K
$4K
Closing Cost %
2.8%
1.3%
Transfer Tax
0.8%
0.37%
Homeowners Insurance
$2,100/yr
$2,600/yr
First-Time Buyer Program
SONYMA Achieving the Dream
Up to $15,000 DPAL
SC Housing Palmetto Home
Up to $8,000 forgivable
Verdict
South Carolina wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $305K and lower overall costs, South Carolina offers meaningful savings compared to New York. Both states offer first-time buyer programs — explore the state pages for full details.