Columbia South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Columbia, SC (the Columbia metro area) was $920 in 2019 according to the Census ACS survey.1 Average gross rent in Columbia was $895 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 Columbia median and average rent data will be released in September of 2021.
Data is also available below for Columbia rental vacancy rates, Columbia rent as a percent of median income and the fraction of renters in Columbia.
Real Gross Rent in Columbia 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% |
| Columbia, SC Median Gross Rent | $920 | -4.47% | -1.60% |
Columbia, SC Real Gross Rent Trends
Median gross rent for Columbia peaked in real terms in 2018 at $963 and is now $43 (4.47%) lower. Average gross rent for Columbia peaked in real terms in 2018 at $975 and is now $80 (8.21%) lower.
Real Gross Rent in Columbia: Columbia SC Median, Columbia SC Average, South Carolina Median, US Median
Real Gross Rent History for Columbia
| Date | US Median |
South Carolina Median |
Columbia, SC Median |
Columbia, SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $920 | $895 |
| 2018 | $1,077 | $908 | $963 | $975 |
| 2017 | $1,043 | $874 | $919 | $907 |
| 2016 | $1,027 | $881 | $935 | $924 |
| 2015 | $1,017 | $869 | $909 | $904 |
| 2014 | $986 | $835 | $905 | $894 |
| 2013 | $953 | $807 | $872 | $851 |
| 2012 | $940 | $802 | $843 | $841 |
| 2011 | $941 | $800 | $872 | $842 |
| 2010 | $955 | $813 | $853 | $844 |
| 2009 | $960 | $805 | $874 | $845 |
| 2007 | $927 | $758 | $828 | $779 |
| 2005 | $910 | $764 | $805 | $771 |
Columbia 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 Columbia South Carolina was 4.73% according to Census ACS data.
Rental Vacancy Rate in Columbia South Carolina
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| South Carolina | 9.13% | -0.86% | +0.64% |
| Columbia, SC | 4.73% | -1.86% | -0.57% |
Trends in Columbia, SC Rental Vacancy Rate
The rental vacancy rate in Columbia peaked in 2005 at 10.42%. Since then it has fallen by 5.69% to 4.73%. Data records for this series originated in 2005.
Rental Vacancy Rate: Columbia SC, South Carolina, US
Historical Rental Vacancy Rate data for Columbia
| Date | US | South Carolina | Columbia, SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | 4.73% |
| 2018 | 6.15% | 9.99% | 6.59% |
| 2017 | 6.18% | 8.97% | 6.77% |
| 2016 | 5.89% | 8.49% | 5.30% |
| 2015 | 5.85% | 9.45% | 9.51% |
| 2014 | 6.32% | 10.54% | 7.43% |
| 2013 | 6.49% | 10.54% | 7.99% |
| 2012 | 6.77% | 12.68% | 9.17% |
| 2011 | 7.40% | 12.12% | 8.24% |
| 2010 | 8.17% | 13.69% | 9.32% |
| 2009 | 8.43% | 13.35% | 10.23% |
| 2007 | 7.87% | 11.99% | 7.45% |
| 2005 | 7.74% | 11.43% | 10.42% |
Rent as a Fraction of Income
Using median household income data for Columbia, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Columbia, median monthly gross rent as a fraction of median household income was 19.81% in 2019 according to the ACS.
Columbia 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% |
| Columbia, SC | 19.81% | -1.30% | -0.70% |
Trends in Columbia, SC Rent as a Fraction of Income
The fraction of median Columbia household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 21.38%. Since then it has fallen by 1.57% to 19.81%.
Fraction of Income towards Rent: Columbia SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Columbia South Carolina
| Date | US | South Carolina | Columbia, SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 19.81% |
| 2018 | 20.50% | 20.46% | 21.11% |
| 2017 | 20.13% | 20.12% | 19.63% |
| 2016 | 20.43% | 20.39% | 20.51% |
| 2015 | 20.63% | 20.81% | 20.02% |
| 2014 | 20.89% | 20.98% | 20.53% |
| 2013 | 20.78% | 20.81% | 20.41% |
| 2012 | 20.65% | 20.99% | 19.49% |
| 2011 | 20.70% | 20.99% | 21.38% |
| 2010 | 20.50% | 20.79% | 19.94% |
| 2009 | 20.12% | 19.96% | 19.33% |
| 2007 | 18.66% | 17.86% | 17.77% |
| 2005 | 18.89% | 18.65% | 17.93% |
Renter Fraction in Columbia South Carolina
You can calculate the renter fraction in Columbia 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 Columbia as a fraction of total Columbia households. In 2019 32.14% of households were renters according to Census ACS data.
Columbia 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% |
| Columbia, SC | 32.14% | -0.74% | -1.03% |
Trends in the Columbia, SC Renter Fraction
The Columbia household renter fraction peaked in in 2014 at 33.67% and is now 1.53% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Columbia SC, South Carolina, US
History of Columbia Renter Fraction
| Date | US | South Carolina | Columbia, SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 32.14% |
| 2018 | 36.05% | 30.73% | 32.88% |
| 2017 | 36.13% | 31.25% | 32.27% |
| 2016 | 36.88% | 31.37% | 33.17% |
| 2015 | 36.97% | 31.87% | 33.42% |
| 2014 | 36.90% | 31.95% | 33.67% |
| 2013 | 36.50% | 31.83% | 32.50% |
| 2012 | 36.09% | 31.87% | 32.00% |
| 2011 | 35.42% | 30.83% | 32.66% |
| 2010 | 34.65% | 31.30% | 32.62% |
| 2009 | 34.13% | 29.86% | 30.45% |
| 2007 | 32.80% | 29.96% | 30.61% |
| 2005 | 33.10% | 29.91% | 31.37% |
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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