South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in South Carolina was $922 in 2019 according to the Census ACS survey.1 Average gross rent was $894 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 South Carolina median and average rent data will be released in September of 2021.
Data is also available below for South Carolina rental vacancy rates, South Carolina rent as a percent of median income and the fraction of renters in South Carolina.
Real Gross Rent in South Carolina (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| South Carolina Median Gross Rent | $922 | +1.54% | +4.65% |
South Carolina Real Gross Rent Trends
At $922, real median gross rent in South Carolina was at its highest level in 2019 since the series began in 2005. At $894, real average gross rent in South Carolina was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in South Carolina: Median, Average, US Median
Real Gross Rent History for South Carolina
| Date | US Median | South Carolina Median | South Carolina Average |
|---|---|---|---|
| 2019 | $1,097 | $922 | $894 |
| 2018 | $1,077 | $908 | $887 |
| 2017 | $1,043 | $874 | $863 |
| 2016 | $1,027 | $881 | $860 |
| 2015 | $1,017 | $869 | $856 |
| 2014 | $986 | $835 | $823 |
| 2013 | $953 | $807 | $780 |
| 2012 | $940 | $802 | $781 |
| 2011 | $941 | $800 | $781 |
| 2010 | $955 | $813 | $783 |
| 2009 | $960 | $805 | $774 |
| 2007 | $927 | $758 | $725 |
| 2005 | $910 | $764 | $716 |
South Carolina Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for South Carolina was 9.13% according to Census ACS data.
Rental Vacancy Rate in South Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Carolina | 9.13% | -0.86% | +0.64% |
Trends in South Carolina Rental Vacancy Rate
The rental vacancy rate in South Carolina peaked in 2010 at 13.69%. Since then it has fallen by 4.56% to 9.13%. Data records for this series originated in 2005. From a 2016 post peak low of 8.49%, the rental vacancy rate has increased by 0.64%.
Rental Vacancy Rate: South Carolina, US
Historical Rental Vacancy Rate data for South Carolina
| Date | US | South Carolina |
|---|---|---|
| 2019 | 5.97% | 9.13% |
| 2018 | 6.15% | 9.99% |
| 2017 | 6.18% | 8.97% |
| 2016 | 5.89% | 8.49% |
| 2015 | 5.85% | 9.45% |
| 2014 | 6.32% | 10.54% |
| 2013 | 6.49% | 10.54% |
| 2012 | 6.77% | 12.68% |
| 2011 | 7.40% | 12.12% |
| 2010 | 8.17% | 13.69% |
| 2009 | 8.43% | 13.35% |
| 2007 | 7.87% | 11.99% |
| 2005 | 7.74% | 11.43% |
South Carolina Rent as a Fraction of Income
Using median household income data for South Carolina, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For South Carolina, median monthly gross rent as a fraction of median household income was 19.68% in 2019 according to the ACS.
South Carolina Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| South Carolina | 19.68% | -0.79% | -0.71% |
Trends in South Carolina Rent as a Fraction of Income
The fraction of median South Carolina household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 20.99%. Since then it has fallen by 1.31% to 19.68%.
Fraction of Income towards Rent: South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in South Carolina
| Date | US | South Carolina |
|---|---|---|
| 2019 | 20.03% | 19.68% |
| 2018 | 20.50% | 20.46% |
| 2017 | 20.13% | 20.12% |
| 2016 | 20.43% | 20.39% |
| 2015 | 20.63% | 20.81% |
| 2014 | 20.89% | 20.98% |
| 2013 | 20.78% | 20.81% |
| 2012 | 20.65% | 20.99% |
| 2011 | 20.70% | 20.99% |
| 2010 | 20.50% | 20.79% |
| 2009 | 20.12% | 19.96% |
| 2007 | 18.66% | 17.86% |
| 2005 | 18.89% | 18.65% |
Renter Fraction in South Carolina
You can calculate the renter fraction in South Carolina in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in South Carolina as a fraction of total South Carolina households. In 2019 29.73% of households were renters according to Census ACS data.
South Carolina Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| South Carolina | 29.73% | -1.00% | -1.64% |
Trends in the South Carolina Renter Fraction
The South Carolina household renter fraction peaked in in 2014 at 31.95% and is now 2.22% below that level. The origin year for the series is 2005.
Fraction of Renting Households: South Carolina, US
History of South Carolina Renter Fraction
| Date | US | South Carolina |
|---|---|---|
| 2019 | 35.89% | 29.73% |
| 2018 | 36.05% | 30.73% |
| 2017 | 36.13% | 31.25% |
| 2016 | 36.88% | 31.37% |
| 2015 | 36.97% | 31.87% |
| 2014 | 36.90% | 31.95% |
| 2013 | 36.50% | 31.83% |
| 2012 | 36.09% | 31.87% |
| 2011 | 35.42% | 30.83% |
| 2010 | 34.65% | 31.30% |
| 2009 | 34.13% | 29.86% |
| 2007 | 32.80% | 29.96% |
| 2005 | 33.10% | 29.91% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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