Total monthly cost of ownership
Cost to Own a Home in Columbia, South Carolina
A $244,000 home here costs
$1,923per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $669 higher every month — 53% 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.
Columbia against Richland County and South Carolina
| Measure | Columbia | Richland County |
|---|---|---|
| Median home value | $243,500 | $224,200 |
| Median property tax | $1,608 | $1,569 |
| Effective tax rate | 0.660% | 0.700% |
| Median gross rent | $1,158 | $1,185 |
| Population | 138,019 | 418,725 |
Columbia extends across 2 counties. Figures here use Richland County, where most of its housing sits.
The weather behind that power bill
Columbia sits in Richland County, which averages a high of 93.2°F in its hottest month and a low of 37.0°F in its coldest, with 43.68" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 2,418 cooling and 2,210 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Richland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Richland County
Full Richland County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Columbia?
A $244,000 home in Columbia, South Carolina costs approximately $1,923 per month with 20% down at 6.66%. That is $1,254 principal and interest, $134 property tax, $118 homeowners insurance, $213 utilities and $203 set aside for maintenance.
What is the property tax rate in Columbia?
Columbia has an effective property tax rate of 0.660%, based on a median home value of $243,500 and median real estate taxes of $1,608. That is lower than the Richland County average of 0.700%.
What is the average home price in Columbia?
The median owner-occupied home value in Columbia, South Carolina is $243,500, against $224,200 across Richland County.
Is it cheaper to rent or buy in Columbia?
Median gross rent in Columbia is $1,158 a month, against $1,923 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 Columbia — 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.