Total monthly cost of ownership
Cost to Own a Home in Cheraw, South Carolina
A $113,000 home here costs
$986per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $581. The real number is $405 higher every month — 70% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Cheraw against Chesterfield County and South Carolina
| Measure | Cheraw | Chesterfield County |
|---|---|---|
| Median home value | $113,400 | $101,400 |
| Median property tax | $517 | $468 |
| Effective tax rate | 0.456% | 0.462% |
| Median gross rent | $806 | $776 |
| Population | 5,024 | 43,575 |
The weather behind that power bill
Cheraw sits in Chesterfield County, which averages a high of 92.3°F in its hottest month and a low of 31.8°F in its coldest, with 49.76" of precipitation a year and 32% of it in a single three-month stretch. That climate drives 1,990 cooling and 2,789 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Chesterfield County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chesterfield County
Full Chesterfield County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Cheraw?
A $113,000 home in Cheraw, South Carolina costs approximately $986 per month with 20% down at 6.66%. That is $581 principal and interest, $43 property tax, $54 homeowners insurance, $213 utilities and $94 set aside for maintenance.
What is the property tax rate in Cheraw?
Cheraw has an effective property tax rate of 0.456%, based on a median home value of $113,400 and median real estate taxes of $517. That is in line with the Chesterfield County average of 0.462%.
What is the average home price in Cheraw?
The median owner-occupied home value in Cheraw, South Carolina is $113,400, against $101,400 across Chesterfield County.
Is it cheaper to rent or buy in Cheraw?
Median gross rent in Cheraw is $806 a month, against $986 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Cheraw — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for South Carolina.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.