South Carolina Rent vs Buy Calculator
Compare the true cost of renting versus buying in South Carolina. Factor in South Carolina property taxes (0.57%), insurance ($3K/yr), and local appreciation rates.
$35,000
Total Cost of Renting
$168K
$1,800/mo → $2,213/mo
Total Cost of Owning
$290K
mortgage + costs + selling
Equity Built
$146K
home worth $430K
Net Cost: Buying
$144K
total cost − equity
Side-by-Side
Total Rent Paid$168,035
Investment Gains (down payment)$24,984
Net Cost: Renting$143,051
Total Ownership Cost$289,567
Less: Equity at Sale−$145,645
Net Cost: Buying$143,922
Renting Saves$871
South Carolina Housing at a Glance
Median Home Price
$305K
South Carolina statewide
Property Tax Rate
0.57%
$145/mo on median
Avg Closing Costs
$4K
1.3% of purchase price
Homeowners Insurance
$2,600/yr
$217/mo
South Carolina First-Time Buyer Program
SC Housing Palmetto Home
Down payment assistance: Up to $8,000 forgivable