Total monthly cost of ownership
Cost to Own a Home in McCormick, South Carolina
A $88,000 home here costs
$826per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $452. The real number is $374 higher every month — 83% 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.
McCormick against McCormick County and South Carolina
| Measure | McCormick | McCormick County |
|---|---|---|
| Median home value | $88,400 | $159,000 |
| Median property tax | $535 | $1,014 |
| Effective tax rate | 0.605% | 0.638% |
| Median gross rent | $640 | $666 |
| Population | 2,681 | 9,701 |
The weather behind that power bill
McCormick sits in McCormick County, which averages a high of 92.3°F in its hottest month and a low of 32.9°F in its coldest, with 47.29" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,954 cooling and 2,822 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for McCormick County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McCormick County
No other places of this size are published in McCormick County.
Full McCormick County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in McCormick?
A $88,000 home in McCormick, South Carolina costs approximately $826 per month with 20% down at 6.66%. That is $452 principal and interest, $44 property tax, $42 homeowners insurance, $213 utilities and $73 set aside for maintenance.
What is the property tax rate in McCormick?
McCormick has an effective property tax rate of 0.605%, based on a median home value of $88,400 and median real estate taxes of $535. That is lower than the McCormick County average of 0.638%.
What is the average home price in McCormick?
The median owner-occupied home value in McCormick, South Carolina is $88,400, against $159,000 across McCormick County.
Is it cheaper to rent or buy in McCormick?
Median gross rent in McCormick is $640 a month, against $826 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 McCormick — 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.