Rent vs buy in Goose Creek, SC
For Goose Creek, South Carolina, the typical rent is $1,861 /mo and the typical home value is $324,332.
Buying saves $22k over 7 years
The figures use Goose Creek's typical rent plus its home value. They reflect 20% down and today's mortgage rate. The break-even point lands in year 5.
Clearly labeled opinion with the math shown. These figures are estimates, not quotes. The stamp changes whenever a number changes.
- Owning comes out ahead by
- $22k after 7 years
- Point of break-even
- year 5 when owning catches up
- Full cost of owning
- $2,728 /mo year 1, against $1,861 rent
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The stamp takes Goose Creek's typical rent figures and home value as its inputs. Your rent, price and years can flip the result.
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Is buying or renting cheaper in Goose Creek?
Over 7 years, buying costs $22,070 less when you include the money you get back from selling. In year 5, owning's net cost falls below renting's and remains lower.
Rent. Own. Net cost so far, year by year.
Goose Creek: average rent against the mortgage payment
At Goose Creek's typical price, year 1 brings more than rent and the mortgage, so here are all the monthly costs.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,861 | All of it, every month |
| Mortgage payment | $1,768 | $1,559 of it is interest in year 1 |
| Property tax | $124 | 0.46% of the value a year |
| Insurance | $113 | Census median for the city |
| Upkeep | $270 | 1% of the value a year |
| Owning, cash out | $2,276 | $210 of it builds equity |
| Lost return on the down payment | $527 | Annual return on the cash at 8.3% |
| Buying costs, spread out | $135 | 3.5% of the price over 7 years |
| True cost of owning | $2,728 | Cash out, subtract the equity part and add the two lines above |
Numbers behind the Goose Creek result
- Typical home value: Zillow ZHVI, September 2026
- $324,332
- Typical rent comes from Zillow ZORI, September 2026.
- $1,861 /mo
- Down payment: 20% means no private mortgage insurance, and the engine leaves that out.
- 20%
- Mortgage rate, from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home prices grow according to the house price index from FHFA, South Carolina, 1995 to 2025
- Each year: 4.5%
- Rent growth: Primary residence rent CPI, yearly growth 2006 to 2026
- Each year: 3.5%
- Return on savings60% S&P 500, dividends included, and 40% 10-year Treasuries; yearly rebalancing, 1928 to 2025
- Each year: 8.3%
- Property tax dataCensus ACS 2020-2024, Goose Creek
- 0.46% of the value
- Home insurance dataCensus ACS 2020-2024, Goose Creek
- Monthly: $113
- Maintenance 1% to 4%, low end per Fannie Mae
- Each year, the amount equals 1% of value.
- Costs of buyingFreddie Mac, 2% to 5% midpoint
- 3.5% of the purchase price
- Sale costsAgent commission plus closing costs
- 6% of the price
What could change the result in Goose Creek?
Each line marks the point where Goose Creek's 7-year verdict changes, with every other factor held as it is.
Renting comes out ahead if
- Home price growth under 3.7% a year. Our numbers use 4.5%, South Carolina's rate over the long run.
- A mortgage rate remains above 8.44%.
- A similar home rents for under $1,620 a month (the local typical rent is $1,861).
- You move ahead of year 5.
Buying comes out ahead when
- Home prices rise by more than 3.7% a year.
- You secure a mortgage rate under 8.44% (today's rate is 7.24%).
- The same home would cost more than $1,620 a month to rent.
- You remain for 5 years or more.
Goose Creek compared with the other 812 cities
| Measure | Goose Creek | Median city |
|---|---|---|
| Typical home value | $324,332 | $422,451 |
| Typical rent | $1,861 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.5 (#651 of 813) | 18.5 |
| Home prices, last 10 years | 6.5% a year | 6.2% a year |
| Rents, last 5 years | 7.1% a year | 4% a year |
| Property tax | 0.46% | 0.87% |
| Households that rent | 32% | 42% |
Sources: Zillow data for ZHVI and ZORI, Census ACS 2020-2024.
Cities elsewhere in South Carolina
- Rent. Charleston, SC. Renting comes out $56k ahead.
- Buy. Columbia, SC. Buying comes out $29k ahead.
- Buy. North Charleston, SC. Buying comes out $16k ahead.
- Rent. Mount Pleasant, SC. Renting comes out $162k ahead.
- Rent. Rock Hill, SC. Renting comes out $8k ahead.
- Rent. Greenville, SC. Renting comes out $9k ahead.
- Rent. Summerville, SC. Renting comes out $5k ahead.