South Carolina · 71st largest metro area

Buying a home in Charleston, South Carolina

In Charleston, the median value of owner-occupied homes is $509,700, Charleston County's effective property tax rate is 0.39%, a purchase mortgage carried a median $6,386 in total loan costs in 2025, and median gross rent is $1,722 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Charleston home costs, fact by fact

About Charleston

Median gross rent is $1,722 per month, and owners occupy 55.6% of homes. HUD's Fair Market Rent for the county is $1,884.

Reading the Charleston figures

Charleston is the high point of South Carolina on this site. Owners put homes at $509,700, above Greenville's $487,500, far above Columbia's $264,300, and well past the state median of $306,200. North Charleston is listed at $302,200. Rent follows the same direction, at $1,722 a month, against $1,312 in Greenville.

The tax is the offset. At 0.39%, Charleston County produces just $1,901 a year, even with homes valued at $489,100. About 55.6% of households own, compared with 45.5% in Columbia. HUD's benchmark of $1,884 exceeds the census rent. Lenders charged between $4,637 and $10,525 on most loans in 2025, a wide spread that is worth discussing with a lender before you commit to anything. The Charleston metro area ranks 71st nationally.

Calculate for South Carolina

If you buy

South Carolina state transfer tax

Deed recording fee (S.C. Code 12-24-10): $1.85 per $500 of value, or fractional part of $500 ($3.70 per $1,000): $1.30 per $500 state and $0.55 per $500 county. Change the price: the amount is recalculated instantly.

Price$306,200
State transfer tax$1,134.05
Share of the price0.37% of the price
Who paysThe seller

Default price: the South Carolina median value of owner-occupied homes, $306,200 (Census ACS 2025). Rule: Divide value by $500, round up to the next whole unit, multiply by $1.85 (state $1.30 plus county $0.55, both set by statute). Value is what was paid, including debt assumed, minus any prior lien that stays on the property; the parties may elect the property tax fair market value. Who pays: The statute puts the fee on the grantor (seller), jointly and severally if several; the buyer is only secondarily liable. For deeds from a master-in-equity, governments or a tax-exempt retirement plan, the grantee owes it. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. South Carolina transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: South Carolina state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Charleston

How much is property tax in Charleston?

Homeowners in Charleston County pay a median $1,901 a year in property tax, 0.39% of the county median home value of $489,100 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Charleston?

Home-purchase mortgages in Charleston County carried median total loan costs of $6,386 in 2025; half of the 4,612 loans fell between $4,637 and $10,525 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Charleston?

South Carolina has no tax called a transfer tax but charges a deed recording fee of $1.85 per $500 of value, or $3.70 per $1,000 ($2.60 state and $1.10 county), which is $1,480 on a $400,000 sale. By law the seller owes it.

Is it cheaper to rent or buy in Charleston?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Charleston ($509,700) equals 24.7 years of the median gross rent ($1,722 a month), both from Census ACS 2020-2024.

What natural hazards affect home insurance in Charleston?

Across South Carolina, the main hazards for home insurance are hurricane wind, flood, storm surge and earthquake, and the insurer of last resort is South Carolina Wind and Hail Underwriting Association, for the coastal area. A standard South Carolina homeowners policy does not cover flood, including storm surge, and the Department of Insurance advises considering a flood policy whether or not the property lies in a mapped flood zone.

Run your own numbers: rent vs buy calculator · closing costs calculator.

South Carolina rules that apply in Charleston

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Sources

South Carolina · All states · Federal guides