Total monthly cost of ownership
Cost to Own a Home in Southern Shops, South Carolina
A $102,000 home here costs
$945per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $524. The real number is $421 higher every month — 80% 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.
Southern Shops against Spartanburg County and South Carolina
| Measure | Southern Shops | Spartanburg County |
|---|---|---|
| Median home value | $102,200 | $216,000 |
| Median property tax | $879 | $1,217 |
| Effective tax rate | 0.860% | 0.563% |
| Median gross rent | $963 | $1,019 |
| Population | 3,985 | 338,096 |
The weather behind that power bill
Southern Shops sits in Spartanburg County, which averages a high of 90.1°F in its hottest month and a low of 31.5°F in its coldest, with 50.24" of precipitation a year and 26% of it in a single three-month stretch. That climate drives 1,664 cooling and 3,015 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Spartanburg County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Spartanburg County
Full Spartanburg County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Southern Shops?
A $102,000 home in Southern Shops, South Carolina costs approximately $945 per month with 20% down at 6.66%. That is $524 principal and interest, $73 property tax, $49 homeowners insurance, $213 utilities and $85 set aside for maintenance.
What is the property tax rate in Southern Shops?
Southern Shops has an effective property tax rate of 0.860%, based on a median home value of $102,200 and median real estate taxes of $879. That is higher than the Spartanburg County average of 0.563%.
What is the average home price in Southern Shops?
The median owner-occupied home value in Southern Shops, South Carolina is $102,200, against $216,000 across Spartanburg County.
Is it cheaper to rent or buy in Southern Shops?
Median gross rent in Southern Shops is $963 a month, against $945 to own the median home all in. Owning costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Southern Shops — 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.