Greenwood County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Greenwood County SC was $747 in 2019 according to the Census ACS survey.1 Average gross rent in Greenwood County was $763 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 Greenwood County median and average rent data will be released in September of 2021.
Data is also available below for Greenwood County rental vacancy rates, Greenwood County rent as a percent of median income and the fraction of renters in Greenwood County.
Real Gross Rent in Greenwood 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% |
| Greenwood County SC Median Gross Rent | $747 | -0.66% | +9.85% |
Greenwood County SC Real Gross Rent Trends
Median gross rent for Greenwood County peaked in real terms in 2015 at $802 and is now $55 (6.86%) lower. Average gross rent for Greenwood County peaked in real terms in 2015 at $778 and is now $15 (1.93%) lower.
Real Gross Rent: Greenwood County SC Median, Greenwood County SC Average, South Carolina Median, US Median
Real Gross Rent History for Greenwood County
| Date | US Median |
South Carolina Median |
Greenwood County SC Median |
Greenwood County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $747 | $763 |
| 2018 | $1,077 | $908 | $752 | $742 |
| 2017 | $1,043 | $874 | $701 | $622 |
| 2016 | $1,027 | $881 | $680 | $637 |
| 2015 | $1,017 | $869 | $802 | $778 |
| 2014 | $986 | $835 | $620 | $693 |
| 2013 | $953 | $807 | $660 | $687 |
| 2012 | $940 | $802 | $698 | $630 |
| 2011 | $941 | $800 | $677 | $588 |
| 2010 | $955 | $813 | $651 | $627 |
| 2009 | $960 | $805 | $647 | $605 |
| 2007 | $927 | $758 | $660 | $587 |
| 2005 | $910 | $764 | $658 | $650 |
Greenwood County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Greenwood County South Carolina was 10.32% according to Census ACS data.
Rental Vacancy Rate in Greenwood 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% |
| Greenwood County SC | — | — | — |
Trends in Greenwood County SC Rental Vacancy Rate
The rental vacancy rate in Greenwood County peaked in 2007 at 17.77%. Since then it has fallen by 7.45% to 10.32%. Data records for this series originated in 2005. From a 2013 post peak low of 6.31%, the rental vacancy rate has increased by 4.01%.
Rental Vacancy Rate: Greenwood County SC, South Carolina, US
Historical Rental Vacancy Rate data for Greenwood County
| Date | US | South Carolina | Greenwood County SC |
|---|---|---|---|
| 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% | 10.32% |
| 2014 | 6.32% | 10.54% | 9.38% |
| 2013 | 6.49% | 10.54% | 6.31% |
| 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% | 17.77% |
| 2005 | 7.74% | 11.43% | — |
Rent as a Fraction of Income
Using median household income data for Greenwood County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Greenwood County, median monthly gross rent as a fraction of median household income was 21.27% in 2019 according to the ACS.
Greenwood 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% |
| Greenwood County SC | 21.27% | +0.28% | +0.88% |
Trends in Greenwood County SC Rent as a Fraction of Income
The fraction of median Greenwood County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.71%. Since then it has fallen by 1.44% to 21.27%.
Fraction of Income towards Rent: Greenwood County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Greenwood County South Carolina
| Date | US | South Carolina | Greenwood County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 21.27% |
| 2018 | 20.50% | 20.46% | 20.99% |
| 2017 | 20.13% | 20.12% | 20.17% |
| 2016 | 20.43% | 20.39% | 20.39% |
| 2015 | 20.63% | 20.81% | 20.99% |
| 2014 | 20.89% | 20.98% | 18.62% |
| 2013 | 20.78% | 20.81% | 22.11% |
| 2012 | 20.65% | 20.99% | 21.91% |
| 2011 | 20.70% | 20.99% | 21.09% |
| 2010 | 20.50% | 20.79% | 22.71% |
| 2009 | 20.12% | 19.96% | 16.24% |
| 2007 | 18.66% | 17.86% | 16.32% |
| 2005 | 18.89% | 18.65% | 17.84% |
Renter Fraction in Greenwood County South Carolina
You can calculate the renter fraction in Greenwood 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 Greenwood County as a fraction of total Greenwood County households. In 2019 36.28% of households were renters according to Census ACS data.
Greenwood 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% |
| Greenwood County SC | 36.28% | -0.90% | -2.96% |
Trends in the Greenwood County SC Renter Fraction
The Greenwood County household renter fraction peaked in in 2016 at 39.24% and is now 2.96% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Greenwood County SC, South Carolina, US
History of Greenwood County Renter Fraction
| Date | US | South Carolina | Greenwood County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 36.28% |
| 2018 | 36.05% | 30.73% | 37.18% |
| 2017 | 36.13% | 31.25% | 36.81% |
| 2016 | 36.88% | 31.37% | 39.24% |
| 2015 | 36.97% | 31.87% | 31.41% |
| 2014 | 36.90% | 31.95% | 31.73% |
| 2013 | 36.50% | 31.83% | 35.23% |
| 2012 | 36.09% | 31.87% | 37.59% |
| 2011 | 35.42% | 30.83% | 33.99% |
| 2010 | 34.65% | 31.30% | 32.43% |
| 2009 | 34.13% | 29.86% | 33.75% |
| 2007 | 32.80% | 29.96% | 26.36% |
| 2005 | 33.10% | 29.91% | 29.28% |
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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