Charleston County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Charleston County SC was $1,229 in 2019 according to the Census ACS survey.1 Average gross rent in Charleston County was $1,251 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 Charleston County median and average rent data will be released in September of 2021.
Data is also available below for Charleston County rental vacancy rates, Charleston County rent as a percent of median income and the fraction of renters in Charleston County.
Real Gross Rent in Charleston County 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% |
| Charleston County SC Median Gross Rent | $1,229 | -1.68% | +9.93% |
Charleston County SC Real Gross Rent Trends
Median gross rent for Charleston County peaked in real terms in 2018 at $1,250 and is now $21 (1.68%) lower. At $1,251, real average gross rent in Charleston County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Charleston County SC Median, Charleston County SC Average, South Carolina Median, US Median
Real Gross Rent History for Charleston County
| Date | US Median |
South Carolina Median |
Charleston County SC Median |
Charleston County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $1,229 | $1,251 |
| 2018 | $1,077 | $908 | $1,250 | $1,231 |
| 2017 | $1,043 | $874 | $1,174 | $1,188 |
| 2016 | $1,027 | $881 | $1,118 | $1,121 |
| 2015 | $1,017 | $869 | $1,133 | $1,173 |
| 2014 | $986 | $835 | $1,057 | $1,130 |
| 2013 | $953 | $807 | $1,003 | $1,020 |
| 2012 | $940 | $802 | $1,028 | $1,070 |
| 2011 | $941 | $800 | $960 | $994 |
| 2010 | $955 | $813 | $982 | $1,041 |
| 2009 | $960 | $805 | $998 | $1,022 |
| 2007 | $927 | $758 | $941 | $963 |
| 2005 | $910 | $764 | $986 | $950 |
Charleston County 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 Charleston County South Carolina was 8.47% according to Census ACS data.
Rental Vacancy Rate in Charleston County South Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Carolina | 9.13% | -0.86% | +0.64% |
| Charleston County SC | 8.47% | +0.05% | +0.70% |
Trends in Charleston County SC Rental Vacancy Rate
The rental vacancy rate in Charleston County peaked in 2008 at 15.58%. Since then it has fallen by 7.11% to 8.47%. Data records for this series originated in 2005. From a 2016 post peak low of 7.77%, the rental vacancy rate has increased by 0.70%.
Rental Vacancy Rate: Charleston County SC, South Carolina, US
Historical Rental Vacancy Rate data for Charleston County
| Date | US | South Carolina | Charleston County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | 8.47% |
| 2018 | 6.15% | 9.99% | 8.42% |
| 2017 | 6.18% | 8.97% | 9.05% |
| 2016 | 5.89% | 8.49% | 7.77% |
| 2015 | 5.85% | 9.45% | 11.06% |
| 2014 | 6.32% | 10.54% | 7.94% |
| 2013 | 6.49% | 10.54% | 12.91% |
| 2012 | 6.77% | 12.68% | 10.50% |
| 2011 | 7.40% | 12.12% | 12.61% |
| 2010 | 8.17% | 13.69% | 14.96% |
| 2009 | 8.43% | 13.35% | 14.69% |
| 2007 | 7.87% | 11.99% | 13.86% |
| 2005 | 7.74% | 11.43% | 9.03% |
Rent as a Fraction of Income
Using median household income data for Charleston County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Charleston County, median monthly gross rent as a fraction of median household income was 20.62% in 2019 according to the ACS.
Charleston County 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% |
| Charleston County SC | 20.62% | -2.60% | -1.94% |
Trends in Charleston County SC Rent as a Fraction of Income
The fraction of median Charleston County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 23.86%. Since then it has fallen by 3.24% to 20.62%.
Fraction of Income towards Rent: Charleston County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Charleston County South Carolina
| Date | US | South Carolina | Charleston County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 20.62% |
| 2018 | 20.50% | 20.46% | 23.22% |
| 2017 | 20.13% | 20.12% | 22.57% |
| 2016 | 20.43% | 20.39% | 22.55% |
| 2015 | 20.63% | 20.81% | 22.45% |
| 2014 | 20.89% | 20.98% | 22.53% |
| 2013 | 20.78% | 20.81% | 22.10% |
| 2012 | 20.65% | 20.99% | 23.86% |
| 2011 | 20.70% | 20.99% | 21.12% |
| 2010 | 20.50% | 20.79% | 22.77% |
| 2009 | 20.12% | 19.96% | 22.62% |
| 2007 | 18.66% | 17.86% | 20.07% |
| 2005 | 18.89% | 18.65% | 21.91% |
Renter Fraction in Charleston County South Carolina
You can calculate the renter fraction in Charleston County 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 Charleston County as a fraction of total Charleston County households. In 2019 36.31% of households were renters according to Census ACS data.
Charleston County 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% |
| Charleston County SC | 36.31% | -1.69% | -2.62% |
Trends in the Charleston County SC Renter Fraction
The Charleston County household renter fraction peaked in in 2014 at 41.58% and is now 5.27% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Charleston County SC, South Carolina, US
History of Charleston County Renter Fraction
| Date | US | South Carolina | Charleston County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 36.31% |
| 2018 | 36.05% | 30.73% | 38.00% |
| 2017 | 36.13% | 31.25% | 40.11% |
| 2016 | 36.88% | 31.37% | 38.93% |
| 2015 | 36.97% | 31.87% | 38.49% |
| 2014 | 36.90% | 31.95% | 41.58% |
| 2013 | 36.50% | 31.83% | 40.16% |
| 2012 | 36.09% | 31.87% | 40.71% |
| 2011 | 35.42% | 30.83% | 37.75% |
| 2010 | 34.65% | 31.30% | 39.17% |
| 2009 | 34.13% | 29.86% | 41.11% |
| 2007 | 32.80% | 29.96% | 36.31% |
| 2005 | 33.10% | 29.91% | 38.17% |
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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