Rent vs buy in North Charleston, SC
A typical rent of $1,742 /mo and a typical home price of $309,108 in North Charleston, South Carolina.
Buying comes out ahead by $16k over 7 years
The calculation starts with North Charleston's typical figures for rent and home value, then assumes a 20% down payment and today's mortgage rate. The break-even point falls in year 6.
Clearly labeled opinion, with the math shown. The figures are estimates, not quotes. The stamp updates when you change a number.
- Owning leads by
- $16k after 7 years
- Break-even point
- Year 6 when owning catches up
- What owning really costs
- $2,622 /mo year 1, against $1,742 rent
Change my numbers
For North Charleston's market, the stamp uses typical rent and home value. You can change the result with your rent, price and years.
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Enter your own figures for rent, price and down payment. The stamp updates with them.
Is it cheaper to rent or buy in North Charleston?
Count in the money that comes back to you when you sell, and buying comes out $16,142 cheaper over 7 years. In year 6, owning's net cost goes under renting's net cost and stays there.
Renting. Owning. Running net cost so far, by year.
Rent vs mortgage payment, on average, in North Charleston
Rent and mortgage payments aren't the whole story. At North Charleston's typical price, here are all monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,742 | All of it, every month |
| Mortgage payment | $1,685 | $1,485 of it is interest in year 1 |
| Property tax | $131 | 0.51% of the value a year |
| Insurance | $116 | Census median for the city |
| Upkeep | $258 | 1% of the value a year |
| Owning, cash out | $2,190 | $200 of it builds equity |
| Lost return on the down payment | $502 | At 8.3% a year, that's what the cash could earn. |
| Buying costs, spread out | $129 | 3.5% of the price over 7 years |
| True cost of owning | $2,622 | Cash paid out, minus the equity share, plus both entries listed above. |
The figures behind the North Charleston verdict
- Typical home value, based on Zillow ZHVI, September 2026
- $309,108
- Typical rent, based on Zillow ZORI, September 2026
- $1,742 a month
- A 20% down payment avoids private mortgage insurance, which the engine doesn't include.
- 20%
- Mortgage rate, from Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home prices, based on the FHFA house price index for South Carolina, 1995 to 2025
- Annual rate: 4.5%
- Rent growthAnnual primary residence rent change from the CPI, 2006 to 2026
- Annual rate: 3.5%
- Return on savings60% in S&P 500 with dividends and 40% in 10-year Treasuries, rebalanced each year from 1928 to 2025
- Each year, 8.3%
- Property tax, from Census ACS 2020-2024, North Charleston
- Value-based rate: 0.51%
- Home insurance, from Census ACS 2020-2024, North Charleston
- $116 each month
- MaintenanceFannie Mae, at the low end of 1% to 4%
- Each year, 1% of the value
- Buying costsFreddie Mac, at the middle of 2% to 5%
- The price-based cost is 3.5%.
- Selling costsAn agent commission plus closing costs
- 6% of the price
What change would reverse the result in North Charleston?
Every line shows where the North Charleston verdict for 7 years changes, while all other figures stay the same.
When renting wins
- For our calculation, 4.5% is South Carolina's long-run rate, but prices grow by less than 3.9% yearly.
- The mortgage rate remains above 8.16%.
- A home like this has a monthly rent below $1,570; the typical rent here is $1,742.
- You relocate before year 6.
When buying wins
- Home prices rise faster than 3.9% each year.
- Today's rate is 7.24%, while you lock in a rate below 8.16%.
- The same home would cost more than $1,570 a month to rent.
- You remain for 6 years or more.
North Charleston compared with the other 812 cities
| Measure | North Charleston | Median city |
|---|---|---|
| Typical home value | $309,108 | $422,451 |
| Typical rent | $1,742 /mo | $1,837 /mo |
| Price-to-rent ratio | 14.8 (#633 of 813) | 18.5 |
| Home prices, last 10 years | 7.3% a year | 6.2% a year |
| Rents, last 5 years | 5.3% a year | 4% a year |
| Property tax | 0.51% | 0.87% |
| Households that rent | 50% | 42% |
Sources: Zillow ZHVI, ZORI, Census ACS 2020-2024.
Other South Carolina cities
- Rent. Charleston, SC. Renting comes out ahead by $56k.
- Buy. Columbia, SC. Buying is ahead by $29k.
- Rent. Mount Pleasant, SC. Renting is ahead by $162k.
- Rent. Rock Hill, SC. Renting is ahead by $8k.
- Rent. Greenville, SC. Renting is ahead by $9k.
- Rent. Summerville, SC. Renting is ahead by $5k.
- Buy. Goose Creek, SC. Buying is ahead by $22k.