Mortgage Rates in Socastee, South Carolina — March 2026
Updated March 2026 | Based on Socastee market data and regional lending conditions
Socastee is a growing city in South Carolina with a population of 25,596. The current 30-year fixed mortgage rate in Socastee is 6.61%, which is 0.04% below the national average. With a median home price of $223,000 and a 20% down payment of $44,600, homebuyers can expect a monthly principal and interest payment of approximately $1,141.
Current Mortgage Rates in Socastee, SC
Below are the current average mortgage rates available in the Socastee area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.61% | 6.65% | -0.04% |
| 15-Year Fixed | 5.88% | 5.89% | -0.01% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.86% | 6.85% | +0.01% |
Socastee Housing Market Overview
The Socastee housing market offers relatively affordable housing compared to many major cities. The median household income in Socastee is $49,600, and the cost of living index is 91.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $53,700 to comfortably afford the median-priced home in Socastee, which exceeds the current median household income.
Monthly Payment Breakdown for Socastee
Based on the median home price of $223,000 with 20% down ($44,600), here is what you can expect to pay monthly in Socastee:
15-Year vs. 30-Year Mortgage in Socastee
Choosing a 15-year mortgage in Socastee at 5.88% instead of a 30-year at 6.61% would save you $141,840 in total interest over the life of the loan. However, your monthly payment would be $1,494 instead of $1,141 — an increase of $353 per month.
Calculate Your Socastee Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Socastee
What are the current mortgage rates in Socastee, SC?
As of March 2026, the average 30-year fixed mortgage rate in Socastee, South Carolina is 6.61%, while the 15-year fixed rate is 5.88%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.04% below the national average of 6.65%.
How much is a monthly mortgage payment in Socastee?
Based on the median home price of $223,000 with 20% down, the estimated monthly mortgage payment in Socastee is $1,141 for principal and interest. Including property taxes of $112/month, the total monthly housing cost is approximately $1,253.
What income do I need to buy a home in Socastee?
Using the 28% rule, you would need an annual income of approximately $53,700 to afford the median-priced home in Socastee at $223,000. The median household income in Socastee is $49,600. This means most households would need to either earn above the median or consider homes below $223,000.
Is Socastee a good place to buy a home in 2026?
Socastee offers a below-average cost of living with a cost of living index of 91.8 (national average = 100). The property tax rate in South Carolina is 0.6%, which is below the national average. Socastee has a population of 25,596 and offers a very affordable lifestyle.
Mortgage Rates in Other South Carolina Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Socastee, South Carolina area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.