North Carolina vs South Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between North Carolina and South Carolina. Updated for 2026.
Metric
North Carolina
South Carolina
Median Home Price
$340K
$305K
Property Tax Rate
0.78%
0.57%
Avg Closing Costs
$5K
$4K
Closing Cost %
1.4%
1.3%
Transfer Tax
0.2%
0.37%
Homeowners Insurance
$2,300/yr
$2,600/yr
First-Time Buyer Program
NC Home Advantage Mortgage
Up to 5% DPA
SC Housing Palmetto Home
Up to $8,000 forgivable
Verdict
South Carolina wins 4 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 North Carolina. Both states offer first-time buyer programs — explore the state pages for full details.