Total monthly cost of ownership
Cost to Own a Home in Elgin, South Carolina
A $204,000 home here costs
$1,616per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,049. The real number is $568 higher every month — 54% 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.
Elgin against Kershaw County and South Carolina
| Measure | Elgin | Kershaw County |
|---|---|---|
| Median home value | $204,300 | $191,900 |
| Median property tax | $1,031 | $937 |
| Effective tax rate | 0.505% | 0.488% |
| Median gross rent | $1,288 | $872 |
| Population | 2,176 | 66,924 |
The weather behind that power bill
Elgin sits in Kershaw County, which averages a high of 92.2°F in its hottest month and a low of 31.5°F in its coldest, with 38.31" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,024 cooling and 2,759 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Kershaw County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kershaw County
Full Kershaw County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Elgin?
A $204,000 home in Elgin, South Carolina costs approximately $1,616 per month with 20% down at 6.66%. That is $1,049 principal and interest, $86 property tax, $98 homeowners insurance, $213 utilities and $170 set aside for maintenance.
What is the property tax rate in Elgin?
Elgin has an effective property tax rate of 0.505%, based on a median home value of $204,300 and median real estate taxes of $1,031. That is higher than the Kershaw County average of 0.488%.
What is the average home price in Elgin?
The median owner-occupied home value in Elgin, South Carolina is $204,300, against $191,900 across Kershaw County.
Is it cheaper to rent or buy in Elgin?
Median gross rent in Elgin is $1,288 a month, against $1,616 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 Elgin — 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.