Ridgeland, SC Real Estate & Homes For Sale

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Ridgeland Real Estate Market Facts

$138,300Median home price
4% lower than South Carolina
$598Median rent asked
26% lower than South Carolina
54.1%Home owners
21% lower than South Carolina
2.9People per home
15% higher than South Carolina

Above, you'll find an overview of the real estate market in Ridgeland, SC. Generally, real estate in the Ridgeland, SC area is more affordable in South Carolina, as the median price of a home in Ridgeland, SC is $138,300, which is 4% lower than the South Carolina average. The median rental price in Ridgeland, SC is $598. This is 26% lower than the average rental price in South Carolina. Home owners comprise 54.1% of the population of Ridgeland, SC, where an average of 2.9 people live in each home. Various real estate options from luxurious homes to affordable condos and urban townhomes are available in Ridgeland, SC. Below, you can search for real estate listings in Ridgeland, SC using our search functionality that allows you to personalize your search and filter out location, price, and number of bedrooms and bathrooms.

Ridgeland Home Affordability

$138,300Median home price
4% lower than South Carolina
$37,841Median home income
19% lower than South Carolina
3.7xHome price to income ratio
19% higher than South Carolina

When searching for real estate in Ridgeland, SC, home affordability is a critical aspect. The ratio of the house price to the median household income is one method used to figure out home affordability. In Ridgeland, SC, the median house price is $138,300, while the median income for households in the area is $37,841. Therefore, the ratio of house price to income is 3.7x; this ratio is 19% higher than the average in South Carolina. The calculation for the ratio of home affordability requires dividing the median household income by the median house price. The lower the aforementioned ratio, the more affordable homes are - when comparing the house price to the household income. However, there are more factors that come into play in terms of home affordability. The calculator below determines home affordability, and it can help you decide how much money you can afford to pay for real estate in Ridgeland, SC.

Ridgeland Affordability Calculator

You can afford a home up to:

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Monthly income breakdown

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Monthly payment
Debt payment
Income taxes
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Finding the right home in Ridgeland, SC means not only finding the right piece of real estate that meets your specifications, but finding a home that is priced within your individual budget requirements. Using the home affordability calculator is one of the best ways to determine your price range when seeking a Ridgeland, SC home, by inputting your down payment, income, and debt information. An even more detailed analysis can be generated by calculating additional factors, such as mortgage rate, length of mortgage, property taxes, home insurance, and any HOA dues. After evaluating these factors, the calculator will display the price range of homes within that individual budget. Determining your price range prior to beginning your house hunt in Ridgeland, SC will streamline the process by allowing you to seek only the homes you can comfortably afford. Using the home affordability calculator to determine your housing budget also gives you the peace of mind of knowing how much will remain in your budget for savings and other expenses.

Ridgeland Mortgage Calculator

Your monthly payment will be:

Monthly payment breakdown

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Mortgage
PMI fees
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Home insurance
HOA dues

So you want to buy some real estate in Ridgeland, SC. What can you expect to pay for it on a monthly basis? This is determined in a number of different ways. One of the biggest variables when it comes to calculating the monthly price is simply the cost of the house itself. There are other significant factors though, such as interest rates, home owner's association fees, the amount of a down payment that was put on the property, PMI (private mortgage insurance), and property taxes. You can eliminate all PMI payments by making a down payment of at least 20% on the house. Using a mortgage calculator will have all these variables available, but they will be filled out with default data. These can be tweaked and filled in with the data specifically for the home you're looking at for a better overview of the monthly cost. When buying a home, you want to keep your debt to income ratio at 36%. This means that you want to pay no more than 36% of your monthly income on your house and other debt payments.

Ridgeland Demographics

4,116Population
85People / sq mile
32.4Median age
1.4:1Male/Female ratio

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Furman, SC	280	$47,200	74%
Yemassee, SC	873	$85,500	54%
Laurel Bay, SC	6,651	$123,400	33%
Burton, SC	7,648	$124,600	33%
Rincon, GA	9,690	$151,200	18%
Ridgeland, SC	4,116	$138,300	25%

Cities with similar population

City, State	Population	Home Price	National Avg.
Lawrenceville, NJ	4,116	$274,700	49%
Orange, MA	4,117	$134,200	27%
Crawfordville, FL	4,115	$137,900	25%
Waverly, TN	4,115	$100,000	46%
Polk City, IA	4,115	$228,700	24%
Ridgeland, SC	4,116	$138,300	25%

Source: The Ridgeland, SC housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).