Laurens County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Laurens County SC was $701 in 2019 according to the Census ACS survey.1 Average gross rent in Laurens County was $645 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 Laurens County median and average rent data will be released in September of 2021.
Data is also available below for Laurens County rental vacancy rates, Laurens County rent as a percent of median income and the fraction of renters in Laurens County.
Real Gross Rent in Laurens 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% |
| Laurens County SC Median Gross Rent | $701 | -0.14% | -18.49% |
Laurens County SC Real Gross Rent Trends
Median gross rent for Laurens County peaked in real terms in 2016 at $860 and is now $159 (18.49%) lower. Average gross rent for Laurens County peaked in real terms in 2016 at $763 and is now $118 (15.47%) lower.
Real Gross Rent: Laurens County SC Median, Laurens County SC Average, South Carolina Median, US Median
Real Gross Rent History for Laurens County
| Date | US Median |
South Carolina Median |
Laurens County SC Median |
Laurens County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $701 | $645 |
| 2018 | $1,077 | $908 | $702 | $678 |
| 2017 | $1,043 | $874 | $779 | $639 |
| 2016 | $1,027 | $881 | $860 | $763 |
| 2015 | $1,017 | $869 | $676 | $627 |
| 2014 | $986 | $835 | $662 | $646 |
| 2013 | $953 | $807 | $647 | $577 |
| 2012 | $940 | $802 | $746 | $600 |
| 2011 | $941 | $800 | $675 | $566 |
| 2010 | $955 | $813 | $693 | $621 |
| 2009 | $960 | $805 | $715 | $593 |
| 2007 | $927 | $758 | $649 | $604 |
| 2005 | $910 | $764 | $660 | $544 |
Laurens 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 Laurens County South Carolina was 9.46% according to Census ACS data.
Rental Vacancy Rate in Laurens 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% |
| Laurens County SC | — | — | — |
Trends in Laurens County SC Rental Vacancy Rate
The rental vacancy rate in Laurens County peaked in 2005 at 10.85%. Since then it has fallen by 1.39% to 9.46%. Data records for this series originated in 2005. From a 2014 post peak low of 3.78%, the rental vacancy rate has increased by 5.68%.
Rental Vacancy Rate: Laurens County SC, South Carolina, US
Historical Rental Vacancy Rate data for Laurens County
| Date | US | South Carolina | Laurens County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | — |
| 2018 | 6.15% | 9.99% | — |
| 2017 | 6.18% | 8.97% | 9.46% |
| 2016 | 5.89% | 8.49% | — |
| 2015 | 5.85% | 9.45% | — |
| 2014 | 6.32% | 10.54% | 3.78% |
| 2013 | 6.49% | 10.54% | 6.65% |
| 2012 | 6.77% | 12.68% | 7.01% |
| 2011 | 7.40% | 12.12% | 9.18% |
| 2010 | 8.17% | 13.69% | — |
| 2009 | 8.43% | 13.35% | 6.76% |
| 2007 | 7.87% | 11.99% | — |
| 2005 | 7.74% | 11.43% | 10.85% |
Rent as a Fraction of Income
Using median household income data for Laurens County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Laurens County, median monthly gross rent as a fraction of median household income was 17.82% in 2019 according to the ACS.
Laurens 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% |
| Laurens County SC | 17.82% | -2.16% | -4.56% |
Trends in Laurens County SC Rent as a Fraction of Income
The fraction of median Laurens County household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 24.10%. Since then it has fallen by 6.28% to 17.82%.
Fraction of Income towards Rent: Laurens County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Laurens County South Carolina
| Date | US | South Carolina | Laurens County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 17.82% |
| 2018 | 20.50% | 20.46% | 19.97% |
| 2017 | 20.13% | 20.12% | 22.47% |
| 2016 | 20.43% | 20.39% | 22.37% |
| 2015 | 20.63% | 20.81% | 19.36% |
| 2014 | 20.89% | 20.98% | 19.99% |
| 2013 | 20.78% | 20.81% | 20.81% |
| 2012 | 20.65% | 20.99% | 24.10% |
| 2011 | 20.70% | 20.99% | 21.32% |
| 2010 | 20.50% | 20.79% | 20.52% |
| 2009 | 20.12% | 19.96% | 20.14% |
| 2007 | 18.66% | 17.86% | 19.42% |
| 2005 | 18.89% | 18.65% | 18.23% |
Renter Fraction in Laurens County South Carolina
You can calculate the renter fraction in Laurens 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 Laurens County as a fraction of total Laurens County households. In 2019 31.52% of households were renters according to Census ACS data.
Laurens 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% |
| Laurens County SC | 31.52% | -0.92% | -1.24% |
Trends in the Laurens County SC Renter Fraction
The Laurens County household renter fraction peaked in in 2006 at 32.86% and is now 1.34% below that level. From a recent low of 25.24% in 2017, the household based renter fraction has now grown by 6.28%. The origin year for the series is 2005.
Fraction of Renting Households: Laurens County SC, South Carolina, US
History of Laurens County Renter Fraction
| Date | US | South Carolina | Laurens County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 31.52% |
| 2018 | 36.05% | 30.73% | 32.44% |
| 2017 | 36.13% | 31.25% | 25.24% |
| 2016 | 36.88% | 31.37% | 32.76% |
| 2015 | 36.97% | 31.87% | 29.71% |
| 2014 | 36.90% | 31.95% | 29.47% |
| 2013 | 36.50% | 31.83% | 28.36% |
| 2012 | 36.09% | 31.87% | 32.32% |
| 2011 | 35.42% | 30.83% | 29.56% |
| 2010 | 34.65% | 31.30% | 27.55% |
| 2009 | 34.13% | 29.86% | 27.30% |
| 2007 | 32.80% | 29.96% | 28.94% |
| 2005 | 33.10% | 29.91% | 25.50% |
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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