Rent vs buy in Greenville, SC
In Greenville, South Carolina, the typical rent is $1,564 /mo and the typical home is $328,460.
Renting comes out ahead by $9k over 7 years
Using Greenville's typical home value and rent, with 20% down and the mortgage rate in effect today. The break-even year is 9.
Our opinion is clearly labeled, and the math is shown. These are estimates, not quotes. Swap in a different number and the stamp shifts.
- Ahead on renting
- $9k after 7 years
- Break-even point
- in year 9 when owning catches up
- What owning really costs
- $2,781 per month year 1, against $1,564 rent
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In Greenville, is it cheaper to rent or buy?
Count in the money that comes back to you when you sell, and renting is cheaper by $9,321 over 7 years. For the first 8 years, renting costs less. By year 9, owning catches up.
Rent. Buy. Net cost up to now, year by year.
Average rent compared with the mortgage payment in Greenville
At Greenville's typical price, these are all monthly costs for year 1. The rent and mortgage aren't the whole story.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,564 | All of it, every month |
| Mortgage payment | $1,791 | $1,578 of it is interest in year 1 |
| Property tax | $148 | 0.54% of the value a year |
| Insurance | $110 | Census median for the city |
| Upkeep | $274 | 1% of the value a year |
| Owning, cash out | $2,322 | $212 of it builds equity |
| Lost return on the down payment | $534 | At 8.3% a year, this is what the cash would earn. |
| Buying costs, spread out | $137 | 3.5% of the price over 7 years |
| True cost of owning | $2,781 | Subtract the equity part from cash out, then add the two lines above |
The numbers behind Greenville's verdict
- Typical home valueZillow ZHVI, September 2026
- $328,460
- Typical rentZillow ZORI, September 2026
- $1,564 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, South Carolina, 1995 to 2025
- 4.5% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Greenville
- 0.54% of value
- Home insuranceCensus ACS 2020-2024, Greenville
- $110 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would flip the result in Greenville?
Each line marks where Greenville's 7-year verdict changes, while everything else stays the same.
Renting wins if
- Home prices increase at under 4.8% per year. We apply 4.5% in the calculation, which is South Carolina's rate over the long run.
- For mortgages, the rate stays above 6.74%.
- For a similar home, monthly rent is below $1,660 (the local typical is $1,564).
- Your move happens before year 9.
Buying wins if
- Home prices increase by more than 4.8% each year.
- You lock in a rate under 6.74% for your mortgage (today's is 7.24%).
- The monthly rent for the same home would cost you over $1,660.
- You remain there for 9 years or more.
Greenville compared with the other 812 cities
| Measure | Greenville | Median city |
|---|---|---|
| Typical home value | $328,460 | $422,451 |
| Typical rent | $1,564 /mo | $1,837 /mo |
| Price-to-rent ratio | 17.5 (#465 of 813) | 18.5 |
| Home prices, last 10 years | 6.7% a year | 6.2% a year |
| Rents, last 5 years | 3.5% a year | 4% a year |
| Property tax | 0.54% | 0.87% |
| Households that rent | 59% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other South Carolina cities
- Renting wins by $56k in Charleston, SC. Rent.
- Buying wins by $29k in Columbia, SC. Buy.
- Buying wins by $16k in North Charleston, SC. Buy.
- Renting wins by $162k in Mount Pleasant, SC. Rent.
- Renting wins by $8k in Rock Hill, SC. Rent.
- Renting wins by $5k in Summerville, SC. Rent.
- Buying wins by $22k in Goose Creek, SC. Buy.