Did you know you can find an affordable home in Mount Pleasant?
If you’re familiar with the area, that might sound surprising. Mount Pleasant has a reputation for being one of the most sought-after places to live in the Charleston metro—and for good reason. However, there are great neighborhoods at more affordable prices. I’m Shawn, your Charleston realtor, and I’m here to help start you through the process of purchasing an affordable home in this beautiful city. Let’s dive in!
Why Mount Pleasant Is So Popular
Mount Pleasant has experienced incredible growth since the 1990s, with its population soaring from just over 31,000 to more than 95,000 today. Why? It’s a combination of factors that make this city one of the most desirable places to live:
- Prime Location: Close proximity to Charleston’s historic peninsula and two top-rated beaches.
- Stunning Aesthetics: Thoughtful town planning with a mix of historical charm and modern suburban design.
- Family-Friendly Appeal: Low crime rates, top-rated schools, and abundant amenities.
- Booming Economy: Growth in industries like healthcare, tourism, tech, and manufacturing has created a robust job market.
Mount Pleasant’s high quality of life, coupled with an average household income of $164,000, makes it an attractive destination. But as popularity rises, so do home prices.
Defining Affordability in Mount Pleasant
What qualifies as “affordable” in Mount Pleasant?
I define an affordable home as one listed at 75% of the average sales price for the area. Here’s what that looks like:
- Single-Family Detached Homes:
- Average sales price: $1.25M
- Affordable benchmark: $937K
- Townhomes/Condos:
- Average sales price: $568K
- Affordable benchmark: $426K
While these numbers might seem high compared to the Charleston Trident area median of $419K for single-family homes, the good news is you don’t need to spend a million dollars to live in Mount Pleasant.
Breaking Down Your Options
Townhomes and Condos
For those starting out, townhomes and condos offer a more budget-friendly way to enter the Mount Pleasant market. Here’s why they’re a great choice:
- Location Perks: Many are situated near schools, parks, and popular amenities.
- Affordability: You can find options in the $350K–$450K range, though some start as low as $285K.
- Investment Potential: While appreciation rates might not match single-family homes, they still offer an excellent opportunity to build equity.
Key Differences Between Townhomes and Condos:
- Condos: Typically older, ownership is limited to the interior of the unit, with exterior maintenance managed by the HOA.
- Townhomes: Owners have title to the interior, exterior, and land beneath. They offer more customization options but come with higher maintenance costs and property taxes.
Single-Family Homes
If you’re ready to invest in a detached home, there are still plenty of options below the $937K “affordable” benchmark.
- Price Ranges: Many homes are listed between $500K–$800K.
- Current Listings: As of now, the most affordable home is priced at $449K for 1,100 sq. ft., with numerous others under $700K.
Affordable Neighborhoods to Explore:
- Dunes West (North Mount Pleasant):
- Upscale gated community with amenities like a golf course, resort-style pools, and tennis courts.
- Median home price: $980K, with more affordable options available.
- Park West (North Mount Pleasant):
- Family-friendly with extensive parks, trails, and great schools.
- Median home price: $582K.
- Belle Hall (South Mount Pleasant):
- Convenient location near I-526 with shopping centers and reputable schools.
- Median home price: More affordable options in the southern region.
What Matters Most When Buying a Home
When purchasing in a competitive market like Mount Pleasant, focus on price, condition, and location. But here’s the catch—you can only prioritize two of these factors:
- Want a home in perfect condition in a great location? Expect to pay a premium.
- Looking for an affordable home in a prime area? Be prepared for a fixer-upper.
- Need a spacious home in excellent condition? You might have to compromise on location.
Let’s Make Your Dream a Reality
Buying a home in Mount Pleasant is an investment in your future. Whether you’re looking at a townhome to start building equity or searching for a single-family home, there are options for every budget.