5 Most Affordable Housing Markets in the US in 2023

3. South Carolina

Median Effective Property Tax Rate: 0.563%

Average Cost of Rent/Month: $924

Homeownership Rate: 74.7%

Final Score: 6.9

South Carolina is one of the lowest-taxed states in the US, so living there offers residents lower real estate taxes, sales tax, and personal income tax. Gas taxes are also low, meaning the state’s transportation costs are among the country’s lowest. Property taxes are also among the lowest in the nation.