Total monthly cost of ownership
Cost to Own a Home in Laurel Bay, South Carolina
A $221,000 home here costs
$1,857per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $79,500 a year.
A standard mortgage calculator would have told you $1,205. The real number is $652 higher every month, 54% more than the payment most buyers budget for.
Compare Beaufort County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Laurel Bay against Beaufort County and South Carolina
| Measure | Laurel Bay | Beaufort County |
|---|---|---|
| Median home value | $221,300 | $407,600 |
| Median property tax | $1,537 | $2,022 |
| Effective tax rate | 0.695% | 0.496% |
| Median gross rent | $1,375 | $1,484 |
| Population | 5,627 | 192,123 |
The weather behind that power bill
Laurel Bay sits in Beaufort County, which averages a high of 91.8°F in its hottest month and a low of 40.1°F in its coldest, with 45.02" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 2,570 cooling and 1,732 heating degree days, which is what sets the $165 electricity line above.
See the full climate breakdown for Beaufort County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Beaufort County
Full Beaufort County cost breakdown · Every county in South Carolina
Talk to someone who works this market
These are Laurel Bay averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Laurel Bay every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Laurel Bay I already own here and may sell
Common questions
How much does it cost to own a home in Laurel Bay?
A $221,000 home in Laurel Bay, South Carolina costs approximately $1,857 per month with 20% down at 7.24%. That is $1,205 principal and interest, $128 property tax, $106 homeowners insurance, $233 utilities and $184 set aside for maintenance.
What is the property tax rate in Laurel Bay?
Laurel Bay has an effective property tax rate of 0.695%, based on a median home value of $221,300 and median real estate taxes of $1,537. That is higher than the Beaufort County average of 0.496%.
What is the average home price in Laurel Bay?
The median owner-occupied home value in Laurel Bay, South Carolina is $221,300, against $407,600 across Beaufort County.
Is it cheaper to rent or buy in Laurel Bay?
Median gross rent in Laurel Bay is $1,375 a month, against $1,857 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Laurel Bay?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Laurel Bay, South Carolina at today's rate takes a household income of roughly $79,500 a year. That covers the full $1,857 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Laurel Bay, 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.