Rent vs buy in Mount Pleasant, SC
In Mount Pleasant, South Carolina, typical rent is $2,441 /mo and typical home is $871,681.
Over 7 years, renting comes out ahead by $162k
Mount Pleasant's figures rely on its typical rent and home value, a 20% down payment and today's mortgage rate. You won't see break-even within 30 years.
Opinions are clearly labelled and the math is shown. These are estimates, not quotes. Adjust any number and the stamp updates.
- Renting leads by
- $162k after 7 years
- Break-even point
- 30 years or more owning never catches up sooner
- What owning really costs
- $7,135 a month year 1, against $2,441 rent
Change my numbers
The stamp is based on Mount Pleasant's typical rent together with its typical home value. The result may flip when your rent, price and years change.
Do your numbers differ from the city's?
Enter a rent, a price and a down payment of your choosing. The stamp updates to match.
Which costs less in Mount Pleasant, renting or buying?
Once you count the money you get back when you sell, renting costs $161,794 less over 7 years. In every year shown, renting's net cost is lower than owning's, and owning never catches up in 30 years.
Rent. Own. Running net cost, year by year.
Average rent compared with mortgage payment in Mount Pleasant
Monthly costs in year 1 go beyond rent and the mortgage. This list covers them all at Mount Pleasant's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,441 | All of it, every month |
| Mortgage payment | $4,752 | $4,189 of it is interest in year 1 |
| Property tax | $225 | 0.31% of the value a year |
| Insurance | $215 | Census median for the city |
| Upkeep | $726 | 1% of the value a year |
| Owning, cash out | $5,919 | $564 of it builds equity |
| Lost return on the down payment | $1,417 | The yearly return on that cash, at 8.3% |
| Buying costs, spread out | $363 | 3.5% of the price over 7 years |
| True cost of owning | $7,135 | Cash out, minus the equity part, plus both lines above. |
The Mount Pleasant verdict, in numbers
- Typical home valueZillow ZHVI, September 2026
- $871,681
- Typical rentZillow ZORI, September 2026
- $2,441 /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, Mount Pleasant
- 0.31% of value
- Home insuranceCensus ACS 2020-2024, Mount Pleasant
- $215 /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 Mount Pleasant?
Each line marks the point at which the 7-year verdict for Mount Pleasant changes, while everything else remains as it is.
Renting comes out ahead when
- Home prices rise by less than 6.6% a year (the 4.5% we use is South Carolina's long-run figure).
- The mortgage rate remains above 3.91%.
- Renting a similar home costs under $4,170 monthly, though the typical local figure is $2,441.
- Moving at any time in the next 30 years: at these numbers, owning still doesn't catch up.
Buying comes out ahead when
- Home prices rise by more than 6.6% each year.
- You secure a mortgage rate under 3.91% (today's rate is 7.24%).
- If you rented the same home, your monthly cost would exceed $4,170.
Mount Pleasant compared with the other 812 cities
| Measure | Mount Pleasant | Median city |
|---|---|---|
| Typical home value | $871,681 | $422,451 |
| Typical rent | $2,441 /mo | $1,837 /mo |
| Price-to-rent ratio | 29.8 (#74 of 813) | 18.5 |
| Home prices, last 10 years | 7.2% a year | 6.2% a year |
| Rents, last 5 years | 5.6% a year | 4% a year |
| Property tax | 0.31% | 0.87% |
| Households that rent | 26% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other South Carolina cities
- Renting. Charleston, SC. Renting comes out ahead by $56k over buying.
- Buying. Columbia, SC. Buying comes out ahead by $29k over renting.
- Buying. North Charleston, SC. Buying comes out ahead by $16k over renting.
- Renting. Rock Hill, SC. Renting comes out ahead by $8k over buying.
- Renting. Greenville, SC. Renting comes out ahead by $9k over buying.
- Renting. Summerville, SC. Renting comes out ahead by $5k over buying.
- Buying. Goose Creek, SC. Buying comes out ahead by $22k over renting.