Everything You Need to Know Before Moving to Mount Pleasant, SC

Are you considering a move to the Charleston area? If so, you've likely heard that Mount Pleasant is one of the most desirable places to live. With its top-rated schools, proximity to downtown Charleston and the beaches, and charming neighborhoods, it's no wonder why Mount Pleasant is such a popular destination.

However, before you start packing your bags, there are some important things you should know about living in Mount Pleasant. In this blog post, we'll cover everything from housing costs and taxes to traffic and flooding concerns. By the end, you'll have a clear picture of what to expect when relocating to this lovely Lowcountry town.

Housing Costs in Mount Pleasant Are High

Let's start with the elephant in the room: housing in Mount Pleasant is expensive. The median price for a single-family home in the greater Charleston area is $425,000, but in Mount Pleasant, that figure jumps to a whopping $999,000 - nearly double!

There are several reasons why housing costs are so high here. First and foremost, Mount Pleasant is an extremely desirable place to live. It boasts some of the best schools in the state, is just a short drive from downtown Charleston, and offers easy access to both Isle of Palms and Sullivan's Island beaches.

Additionally, strict permitting caps have limited new construction in recent years. Since 2019, the town has only allowed 600 new home permits per year in an effort to slow growth. While this measure has been somewhat effective, demand continues to outpace supply, driving prices even higher.

Most Homes Are in HOA Communities

If you're house hunting in Mount Pleasant, chances are you'll end up in a neighborhood with a homeowners association (HOA). In fact, around 75% of homes sold in Mount Pleasant last year were part of an HOA community.

HOAs often get a bad rap, but they do offer some benefits like maintaining common areas, enforcing community standards, and organizing events. Of course, they also come with monthly or annual fees and a set of rules you'll need to follow. It's important to factor these additional costs and restrictions into your decision when looking at homes in Mount Pleasant.

Traffic Can Be a Headache

One of the most common complaints about living in Mount Pleasant is the traffic, especially along Highway 17. As the main thoroughfare connecting Mount Pleasant to downtown Charleston, Highway 17 becomes a parking lot during rush hour as commuters make their way to and from work.

Traffic gets even worse in the summer months when tourists flock to the area to enjoy the beaches. Isle of Palms and Sullivan's Island are both popular destinations, and visitors must pass through Mount Pleasant to reach them.

While the traffic in Mount Pleasant isn't as terrible as some make it out to be, it is something to keep in mind, particularly if you plan to commute into Charleston for work. Choosing a home close to your office or with easy access to alternative routes can help minimize your time spent sitting in traffic.

Taxes in Mount Pleasant

Another important factor to consider when moving to Mount Pleasant (or anywhere in Charleston County) is taxes. There are two key taxes that will impact your budget: sales tax and property tax.

The sales tax in Charleston County is 9%, but you'll also pay an additional 2% hospitality tax on prepared food and beverages. This means your total tax on a restaurant meal or bar tab will be 11%. While this may seem high, it's important to remember that South Carolina has relatively low property taxes.

Speaking of property taxes, the effective tax rate for a primary residence in Charleston County is around 0.5% of the home's assessed value. However, it's important to note that assessed values can be quirky and may not necessarily align with market values.

If you're purchasing a second home or investment property in Mount Pleasant, expect your property taxes to be significantly higher - around triple what you'd pay for a primary residence.

Flooding Is a Fact of Life

Like much of the Charleston area, flooding is a major concern in Mount Pleasant. In fact, every home in town falls within a flood zone, although some areas are riskier than others.

Most of Mount Pleasant falls into one of two flood zones: Zone X or Zone AE. Zone X, which runs along the "spine" of Mount Pleasant near Highway 17, is considered the lowest risk area. Homes in Zone X typically don't require flood insurance, although it may still be a good idea to have it.

As you move further away from Highway 17 towards the rivers and ocean, you'll enter Zone AE. This is a higher risk area that will almost certainly require flood insurance if you have a mortgage.

While it's impossible to completely avoid flood zones in Mount Pleasant (or anywhere in Charleston), being aware of the risks and understanding your insurance requirements can help you make a more informed decision when buying a home.

Mount Pleasant Is Growing Rapidly

If you're looking for a sleepy small town vibe, Mount Pleasant probably isn't the best fit. In fact, it was the fastest-growing small city in the U.S. in 2019 and has continued to expand rapidly in recent years.

In an effort to slow growth, the town implemented a permit cap in 2019 that limits new construction to 600 homes per year. While this has helped rein in development somewhat, Mount Pleasant is still growing much faster than other parts of the Charleston metro.

This rapid growth is likely to have a ripple effect on the housing market in the coming years. With limited new construction and continued high demand, home prices are expected to keep climbing, potentially pushing that median price over $1 million in the not-too-distant future.

Pick Your Favorite Beach

Finally, one of the best things about living in Mount Pleasant is the easy access to Charleston's beautiful beaches. The two closest options are Isle of Palms and Sullivan's Island, and locals often have strong opinions about which one is best.

Isle of Palms is the larger of the two and offers a mix of vacation rentals, beach bars, and family-friendly activities. It has a more touristy, resort-like feel, especially during the summer months.

Sullivan's Island, on the other hand, is a bit quieter and more residential. It has a handful of restaurants and shops but maintains a more laid-back, small-town atmosphere.

Ultimately, the beach you prefer will come down to personal preference and maybe even where in Mount Pleasant you choose to live. But one thing is certain - having such amazing beaches right in your backyard is a major perk of calling Mount Pleasant home!

The Bottom Line

Mount Pleasant is a wonderful place to live, with its excellent schools, beautiful beaches, and charming neighborhoods. However, it's important to go into your move with eyes wide open.

Housing costs are high and likely to keep climbing, traffic can be frustrating, and flooding is a real concern. Taxes and HOA fees are also factors to consider when budgeting for your new home.

Despite these challenges, Mount Pleasant remains one of the most sought-after communities in the Charleston area for good reason. If you can afford the cost of living and navigate the quirks of life in the Lowcountry, you're sure to fall in love with all that Mount Pleasant has to offer.

Check out all Mount Pleasant homes for sale HERE

Bill Olson

Father, Husband, REALTOR®

843-580-8010

Bill@LivinginCHS.com