Quick answer
The median home in Charleston costs $510K. With 20% down ($102K) at 7% for 30 years, the monthly payment is $2,714/month. Total interest paid over 30 years: $569,196.
Calculator · SC · 2026
Mortgage Calculator for Charleston, SC (2026)
Pre-filled with Charleston's median home price of $510K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Charleston Mortgage Payment Scenarios
Median home price: $510K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $25,500 | $484,500 | $3,223 | $4,355 | $675,921 |
| 10% | $51,000 | $459,000 | $3,054 | $4,126 | $640,346 |
| 20% | $102,000 | $408,000 | $2,714 | $3,667 | $569,196 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Charleston
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $510K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$510K home · 20% down ($408K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Charleston?
The median home price in Charleston is $510K. With 20% down and a 30-year loan at 7%, the monthly payment is $2,714. Adding estimated property taxes and insurance brings total monthly costs to approximately $3,224.
Is it cheaper to rent or buy in Charleston?
A 2-bedroom rental in Charleston averages $2,250/month. Buying the median $510K home with 20% down costs approximately $3,224/month (mortgage + taxes + insurance) — $974 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Charleston?
Using the 28% housing rule, you need at least $116K–138K in annual gross income to comfortably afford the median $510K home in Charleston with 20% down. You also need $102K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Charleston?
SC has a state income tax rate of 6.4%. Property taxes vary by county but on a $510K home, expect $425–$850/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.