Total monthly cost of ownership
Cost to Own a Home in Isle of Palms, South Carolina
A $1,192,000 home here costs
$8,185per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $6,128. The real number is $2,057 higher every month — 34% 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.
Isle of Palms against Charleston County and South Carolina
| Measure | Isle of Palms | Charleston County |
|---|---|---|
| Median home value | $1,192,200 | $450,800 |
| Median property tax | $3,318 | $1,864 |
| Effective tax rate | 0.278% | 0.413% |
| Median gross rent | $3,236 | $1,506 |
| Population | 4,350 | 414,711 |
The weather behind that power bill
Isle of Palms sits in Charleston County, which averages a high of 87.5°F in its hottest month and a low of 43.6°F in its coldest, with 44.26" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 2,448 cooling and 1,623 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Charleston County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Charleston County
Full Charleston County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Isle of Palms?
A $1,192,000 home in Isle of Palms, South Carolina costs approximately $8,185 per month with 20% down at 6.66%. That is $6,128 principal and interest, $276 property tax, $574 homeowners insurance, $213 utilities and $993 set aside for maintenance.
What is the property tax rate in Isle of Palms?
Isle of Palms has an effective property tax rate of 0.278%, based on a median home value of $1,192,200 and median real estate taxes of $3,318. That is lower than the Charleston County average of 0.413%.
What is the average home price in Isle of Palms?
The median owner-occupied home value in Isle of Palms, South Carolina is $1,192,200, against $450,800 across Charleston County.
Is it cheaper to rent or buy in Isle of Palms?
Median gross rent in Isle of Palms is $3,236 a month, against $8,185 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 Isle of Palms — 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.