CALCMONEY // HOME AFFORDABILITY // SC // COLUMBIA
How much house can you afford in Columbia? Based on local median home prices, current SC mortgage rates, and Columbia property tax data.
$255,000
$1,569/mo
$67,234/yr
$214,106
Monthly housing costs of $1,569 represent 32.5% of Columbia's median gross monthly income ($4,833/mo). At 32.5%, this slightly exceeds the 28% rule. Buyers need above-median income or a 25%+ down payment to qualify comfortably.
| Median Home Price | $255,000 |
| Down Payment (20%) | $51,000 |
| Loan Amount | $204,000 |
| Monthly PI Payment | $1,344 |
| Monthly Property Tax | $119 |
| Monthly Insurance Est. | $106 |
| Total Monthly PITI | $1,569 |
| Housing Cost % of Income | 32.5% |
| Required Income (28% rule) | $67,234/yr |
| Max Affordable Home | $214,106 |
$8,925
$2,020/mo
Columbia Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $255,000 | Columbia city median |
| Down Payment (20%) | $51,000 | Conventional loan |
| Monthly PITI | $1,569 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $67,234 | Annual gross |
| Max Affordable Home | $214,106 | Based on median income |
| FHA Down (3.5%) | $8,925 | Minimum FHA |
| Housing Cost % of Income | 32.5% | Median income: $58,000/yr |
| Property Tax Rate | 0.56% | $1,428/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Columbia is $255,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $204,000, generating a monthly P&I payment of $1,344. Adding property taxes ($119/mo) and homeowners insurance ($106/mo) brings total monthly PITI to $1,569.
Columbia's property tax rate of 0.56% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Columbia median home, that is $119/month, or $1,428 per year.
South Carolina levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Columbia should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Columbia's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Columbia's mortgage rate of 6.9% and property tax rate of 0.56%, that translates to a maximum affordable home price of approximately $214,106 with 20% down on a 30-year loan.
To afford the median Columbia home priced at $255,000, you need an annual gross income of approximately $67,234. Total monthly housing costs (principal and interest of $1,344, property taxes of $119, and insurance of $106) come to $1,569/month, which equals 28% of the required income.
At the median home price of $255,000 and median household income of $58,000, the total monthly housing cost of $1,569 represents 32.5% of gross monthly income. This slightly exceeds the standard 28% rule. Buyers will need above-median income or a larger down payment to stay within guidelines.
A conventional 20% down payment on the median Columbia home of $255,000 is $51,000. An FHA loan requires just 3.5% down — $8,925 — but adds mortgage insurance of roughly $174/month, bringing total FHA payments to $2,020/month.
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