Lancaster County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Lancaster County SC was $846 in 2019 according to the Census ACS survey.1 Average gross rent in Lancaster County was $716 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 Lancaster County median and average rent data will be released in September of 2021.
Data is also available below for Lancaster County rental vacancy rates, Lancaster County rent as a percent of median income and the fraction of renters in Lancaster County.
Real Gross Rent in Lancaster 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% |
| Lancaster County SC Median Gross Rent | $846 | +0.71% | +26.84% |
Lancaster County SC Real Gross Rent Trends
At $846, real median gross rent in Lancaster County was at its highest level in 2019 since the series began in 2007. Average gross rent for Lancaster County peaked in real terms in 2016 at $743 and is now $27 (3.63%) lower.
Real Gross Rent: Lancaster County SC Median, Lancaster County SC Average, South Carolina Median, US Median
Real Gross Rent History for Lancaster County
| Date | US Median |
South Carolina Median |
Lancaster County SC Median |
Lancaster County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $846 | $716 |
| 2018 | $1,077 | $908 | $840 | $739 |
| 2017 | $1,043 | $874 | $734 | $734 |
| 2016 | $1,027 | $881 | $667 | $743 |
| 2015 | $1,017 | $869 | $806 | $583 |
| 2014 | $986 | $835 | $737 | $717 |
| 2013 | $953 | $807 | $655 | $622 |
| 2012 | $940 | $802 | $645 | $589 |
| 2011 | $941 | $800 | $684 | $709 |
| 2010 | $955 | $813 | $662 | $607 |
| 2009 | $960 | $805 | $733 | $656 |
| 2007 | $927 | $758 | $700 | $677 |
| 2005 | $910 | $764 | — | — |
Lancaster County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Lancaster County South Carolina was 8.69% according to Census ACS data.
Rental Vacancy Rate in Lancaster 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% |
| Lancaster County SC | — | — | — |
Trends in Lancaster County SC Rental Vacancy Rate
The rental vacancy rate in Lancaster County peaked in 2009 at 17.93%. Since then it has fallen by 9.24% to 8.69%. Data records for this series originated in 2007.
Rental Vacancy Rate: Lancaster County SC, South Carolina, US
Historical Rental Vacancy Rate data for Lancaster County
| Date | US | South Carolina | Lancaster County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | — |
| 2018 | 6.15% | 9.99% | — |
| 2017 | 6.18% | 8.97% | 8.69% |
| 2016 | 5.89% | 8.49% | — |
| 2015 | 5.85% | 9.45% | — |
| 2014 | 6.32% | 10.54% | 16.04% |
| 2013 | 6.49% | 10.54% | 9.87% |
| 2012 | 6.77% | 12.68% | 17.62% |
| 2011 | 7.40% | 12.12% | — |
| 2010 | 8.17% | 13.69% | — |
| 2009 | 8.43% | 13.35% | 17.93% |
| 2007 | 7.87% | 11.99% | — |
| 2005 | 7.74% | 11.43% | — |
Rent as a Fraction of Income
Using median household income data for Lancaster County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lancaster County, median monthly gross rent as a fraction of median household income was 15.88% in 2019 according to the ACS.
Lancaster 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% |
| Lancaster County SC | 15.88% | -1.42% | +2.28% |
Trends in Lancaster County SC Rent as a Fraction of Income
The fraction of median Lancaster County household income required to pay median monthly gross rent peaked in 2007 (relative to the 2007 series origin) at 20.01%. Since then it has fallen by 4.13% to 15.88%. From a 2016 low of 13.60%, the fraction of income going to rent has increased by 2.28%.
Fraction of Income towards Rent: Lancaster County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Lancaster County South Carolina
| Date | US | South Carolina | Lancaster County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 15.88% |
| 2018 | 20.50% | 20.46% | 17.30% |
| 2017 | 20.13% | 20.12% | 13.80% |
| 2016 | 20.43% | 20.39% | 13.60% |
| 2015 | 20.63% | 20.81% | 19.97% |
| 2014 | 20.89% | 20.98% | 18.86% |
| 2013 | 20.78% | 20.81% | 19.39% |
| 2012 | 20.65% | 20.99% | 16.17% |
| 2011 | 20.70% | 20.99% | 18.88% |
| 2010 | 20.50% | 20.79% | 19.94% |
| 2009 | 20.12% | 19.96% | 19.08% |
| 2007 | 18.66% | 17.86% | 20.01% |
| 2005 | 18.89% | 18.65% | — |
Renter Fraction in Lancaster County South Carolina
You can calculate the renter fraction in Lancaster 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 Lancaster County as a fraction of total Lancaster County households. In 2019 19.73% of households were renters according to Census ACS data.
Lancaster 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% |
| Lancaster County SC | 19.73% | -3.69% | +3.25% |
Trends in the Lancaster County SC Renter Fraction
The Lancaster County household renter fraction peaked in in 2010 at 28.71% and is now 8.98% below that level. From a recent low of 16.48% in 2016, the household based renter fraction has now grown by 3.25%. The origin year for the series is 2007.
Fraction of Renting Households: Lancaster County SC, South Carolina, US
History of Lancaster County Renter Fraction
| Date | US | South Carolina | Lancaster County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 19.73% |
| 2018 | 36.05% | 30.73% | 23.42% |
| 2017 | 36.13% | 31.25% | 23.32% |
| 2016 | 36.88% | 31.37% | 16.48% |
| 2015 | 36.97% | 31.87% | 21.81% |
| 2014 | 36.90% | 31.95% | 25.41% |
| 2013 | 36.50% | 31.83% | 22.50% |
| 2012 | 36.09% | 31.87% | 21.58% |
| 2011 | 35.42% | 30.83% | 26.75% |
| 2010 | 34.65% | 31.30% | 28.71% |
| 2009 | 34.13% | 29.86% | 28.23% |
| 2007 | 32.80% | 29.96% | 24.86% |
| 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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