Overview
South Carolina offers Southern charm, beautiful coastline, and growing metro areas. Charleston consistently ranks among America's favorite cities, while Greenville has emerged as an economic success story. The state's low taxes, moderate climate, and business-friendly policies have attracted retirees, remote workers, and manufacturing investment.
South Carolina Real Estate Market
Charleston's historic charm and coastal appeal have driven strong appreciation, making it one of the more expensive markets in the Southeast. Greenville's revitalized downtown and manufacturing growth have created a hot market. Myrtle Beach attracts vacation home buyers. Columbia offers affordability as the state capital.
Property Taxes in South Carolina
South Carolina has very low property taxes with a 4% assessment for owner-occupied homes.
Average effective rate: 0.57%
Annual tax on median home: ~$1,739
Owner-occupied assessment: 4% vs 6% for other property
First-Time Buyer Programs
SC Housing Programs:
- SC Housing Homebuyer Program - Below-market rates
- Palmetto Home Advantage - Down payment assistance up to $8,000
- Palmetto Heroes - For military, teachers, first responders
- Mortgage Tax Credit
Closing Costs in South Carolina
South Carolina closing costs are moderate, typically 2-3% of purchase price.
Common costs include:
- Title insurance: Based on purchase price
- Deed recording: $15 first page, $3 each additional
- Mortgage recording: Same as deed
- Attorney fees: Required (attorney-closing state)
Frequently Asked Questions
Charleston combines historic architecture, world-class dining, beaches, and Southern hospitality. It consistently wins "Best City" awards. However, this popularity has driven prices well above regional norms.
Greenville transformed from struggling textile town to thriving city with revitalized downtown, strong job growth in manufacturing and healthcare, and proximity to mountains. It offers excellent value with urban amenities.
SC assesses owner-occupied homes at just 4% of market value (vs 6% for rentals/second homes), resulting in very low effective tax rates. This benefit is for primary residences only.