Horry County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Horry County SC was $1,019 in 2019 according to the Census ACS survey.1 Average gross rent in Horry County was $977 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 Horry County median and average rent data will be released in September of 2021.
Data is also available below for Horry County rental vacancy rates, Horry County rent as a percent of median income and the fraction of renters in Horry County.
Real Gross Rent in Horry 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% |
| Horry County SC Median Gross Rent | $1,019 | +9.69% | +8.98% |
Horry County SC Real Gross Rent Trends
At $1,019, real median gross rent in Horry County was at its highest level in 2019 since the series began in 2005. At $977, real average gross rent in Horry County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: Horry County SC Median, Horry County SC Average, South Carolina Median, US Median
Real Gross Rent History for Horry County
| Date | US Median |
South Carolina Median |
Horry County SC Median |
Horry County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $1,019 | $977 |
| 2018 | $1,077 | $908 | $929 | $900 |
| 2017 | $1,043 | $874 | $951 | $883 |
| 2016 | $1,027 | $881 | $935 | $868 |
| 2015 | $1,017 | $869 | $938 | $926 |
| 2014 | $986 | $835 | $867 | $868 |
| 2013 | $953 | $807 | $839 | $795 |
| 2012 | $940 | $802 | $867 | $824 |
| 2011 | $941 | $800 | $868 | $866 |
| 2010 | $955 | $813 | $872 | $840 |
| 2009 | $960 | $805 | $917 | $866 |
| 2007 | $927 | $758 | $885 | $831 |
| 2005 | $910 | $764 | $849 | $803 |
Horry 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 Horry County South Carolina was 30.17% according to Census ACS data.
Rental Vacancy Rate in Horry 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% |
| Horry County SC | 30.17% | -0.82% | -4.30% |
Trends in Horry County SC Rental Vacancy Rate
The rental vacancy rate in Horry County peaked in 2011 at 40.31%. Since then it has fallen by 10.14% to 30.17%. Data records for this series originated in 2005.
Rental Vacancy Rate: Horry County SC, South Carolina, US
Historical Rental Vacancy Rate data for Horry County
| Date | US | South Carolina | Horry County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | 30.17% |
| 2018 | 6.15% | 9.99% | 30.99% |
| 2017 | 6.18% | 8.97% | 30.31% |
| 2016 | 5.89% | 8.49% | 34.47% |
| 2015 | 5.85% | 9.45% | 31.15% |
| 2014 | 6.32% | 10.54% | 33.07% |
| 2013 | 6.49% | 10.54% | 40.12% |
| 2012 | 6.77% | 12.68% | 38.12% |
| 2011 | 7.40% | 12.12% | 40.31% |
| 2010 | 8.17% | 13.69% | 37.63% |
| 2009 | 8.43% | 13.35% | 33.38% |
| 2007 | 7.87% | 11.99% | 32.23% |
| 2005 | 7.74% | 11.43% | 25.93% |
Rent as a Fraction of Income
Using median household income data for Horry County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Horry County, median monthly gross rent as a fraction of median household income was 22.77% in 2019 according to the ACS.
Horry 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% |
| Horry County SC | 22.77% | +0.44% | -0.72% |
Trends in Horry County SC Rent as a Fraction of Income
The fraction of median Horry County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 24.88%. Since then it has fallen by 2.11% to 22.77%.
Fraction of Income towards Rent: Horry County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Horry County South Carolina
| Date | US | South Carolina | Horry County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 22.77% |
| 2018 | 20.50% | 20.46% | 22.34% |
| 2017 | 20.13% | 20.12% | 24.22% |
| 2016 | 20.43% | 20.39% | 23.49% |
| 2015 | 20.63% | 20.81% | 22.31% |
| 2014 | 20.89% | 20.98% | 22.91% |
| 2013 | 20.78% | 20.81% | 22.73% |
| 2012 | 20.65% | 20.99% | 24.24% |
| 2011 | 20.70% | 20.99% | 24.88% |
| 2010 | 20.50% | 20.79% | 22.52% |
| 2009 | 20.12% | 19.96% | 23.38% |
| 2007 | 18.66% | 17.86% | 20.92% |
| 2005 | 18.89% | 18.65% | 21.01% |
Renter Fraction in Horry County South Carolina
You can calculate the renter fraction in Horry 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 Horry County as a fraction of total Horry County households. In 2019 27.78% of households were renters according to Census ACS data.
Horry 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% |
| Horry County SC | 27.78% | +1.28% | -1.81% |
Trends in the Horry County SC Renter Fraction
The Horry County household renter fraction peaked in in 2012 at 33.05% and is now 5.27% below that level. From a recent low of 26.50% in 2018, the household based renter fraction has now grown by 1.28%. The origin year for the series is 2005.
Fraction of Renting Households: Horry County SC, South Carolina, US
History of Horry County Renter Fraction
| Date | US | South Carolina | Horry County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 27.78% |
| 2018 | 36.05% | 30.73% | 26.50% |
| 2017 | 36.13% | 31.25% | 29.29% |
| 2016 | 36.88% | 31.37% | 29.59% |
| 2015 | 36.97% | 31.87% | 32.04% |
| 2014 | 36.90% | 31.95% | 30.67% |
| 2013 | 36.50% | 31.83% | 30.34% |
| 2012 | 36.09% | 31.87% | 33.05% |
| 2011 | 35.42% | 30.83% | 30.33% |
| 2010 | 34.65% | 31.30% | 29.57% |
| 2009 | 34.13% | 29.86% | 27.74% |
| 2007 | 32.80% | 29.96% | 27.01% |
| 2005 | 33.10% | 29.91% | 31.27% |
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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