Lexington County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Lexington County SC was $908 in 2019 according to the Census ACS survey.1 Average gross rent in Lexington County was $870 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 Lexington County median and average rent data will be released in September of 2021.
Data is also available below for Lexington County rental vacancy rates, Lexington County rent as a percent of median income and the fraction of renters in Lexington County.
Real Gross Rent in Lexington 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% |
| Lexington County SC Median Gross Rent | $908 | -3.40% | -1.41% |
Lexington County SC Real Gross Rent Trends
Median gross rent for Lexington County peaked in real terms in 2018 at $940 and is now $32 (3.40%) lower. Average gross rent for Lexington County peaked in real terms in 2018 at $960 and is now $90 (9.38%) lower.
Real Gross Rent: Lexington County SC Median, Lexington County SC Average, South Carolina Median, US Median
Real Gross Rent History for Lexington County
| Date | US Median |
South Carolina Median |
Lexington County SC Median |
Lexington County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $908 | $870 |
| 2018 | $1,077 | $908 | $940 | $960 |
| 2017 | $1,043 | $874 | $918 | $861 |
| 2016 | $1,027 | $881 | $921 | $898 |
| 2015 | $1,017 | $869 | $911 | $896 |
| 2014 | $986 | $835 | $895 | $923 |
| 2013 | $953 | $807 | $900 | $873 |
| 2012 | $940 | $802 | $827 | $826 |
| 2011 | $941 | $800 | $873 | $860 |
| 2010 | $955 | $813 | $858 | $851 |
| 2009 | $960 | $805 | $882 | $875 |
| 2007 | $927 | $758 | $833 | $804 |
| 2005 | $910 | $764 | $811 | $746 |
Lexington 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 Lexington County South Carolina was 3.46% according to Census ACS data.
Rental Vacancy Rate in Lexington 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% |
| Lexington County SC | 3.46% | -3.32% | -2.87% |
Trends in Lexington County SC Rental Vacancy Rate
The rental vacancy rate in Lexington County peaked in 2005 at 13.14%. Since then it has fallen by 9.68% to 3.46%. Data records for this series originated in 2005.
Rental Vacancy Rate: Lexington County SC, South Carolina, US
Historical Rental Vacancy Rate data for Lexington County
| Date | US | South Carolina | Lexington County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | 3.46% |
| 2018 | 6.15% | 9.99% | 6.78% |
| 2017 | 6.18% | 8.97% | 5.87% |
| 2016 | 5.89% | 8.49% | 6.33% |
| 2015 | 5.85% | 9.45% | 8.10% |
| 2014 | 6.32% | 10.54% | 5.06% |
| 2013 | 6.49% | 10.54% | 7.88% |
| 2012 | 6.77% | 12.68% | 5.68% |
| 2011 | 7.40% | 12.12% | 8.72% |
| 2010 | 8.17% | 13.69% | 8.43% |
| 2009 | 8.43% | 13.35% | 8.11% |
| 2007 | 7.87% | 11.99% | 3.82% |
| 2005 | 7.74% | 11.43% | 13.14% |
Rent as a Fraction of Income
Using median household income data for Lexington County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Lexington County, median monthly gross rent as a fraction of median household income was 17.68% in 2019 according to the ACS.
Lexington 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% |
| Lexington County SC | 17.68% | -0.73% | -0.72% |
Trends in Lexington County SC Rent as a Fraction of Income
The fraction of median Lexington County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 19.14%. Since then it has fallen by 1.46% to 17.68%.
Fraction of Income towards Rent: Lexington County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Lexington County South Carolina
| Date | US | South Carolina | Lexington County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 17.68% |
| 2018 | 20.50% | 20.46% | 18.41% |
| 2017 | 20.13% | 20.12% | 17.75% |
| 2016 | 20.43% | 20.39% | 18.40% |
| 2015 | 20.63% | 20.81% | 18.66% |
| 2014 | 20.89% | 20.98% | 18.85% |
| 2013 | 20.78% | 20.81% | 19.00% |
| 2012 | 20.65% | 20.99% | 17.82% |
| 2011 | 20.70% | 20.99% | 19.14% |
| 2010 | 20.50% | 20.79% | 17.86% |
| 2009 | 20.12% | 19.96% | 17.77% |
| 2007 | 18.66% | 17.86% | 16.74% |
| 2005 | 18.89% | 18.65% | 16.90% |
Renter Fraction in Lexington County South Carolina
You can calculate the renter fraction in Lexington 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 Lexington County as a fraction of total Lexington County households. In 2019 25.98% of households were renters according to Census ACS data.
Lexington 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% |
| Lexington County SC | 25.98% | +0.01% | -0.13% |
Trends in the Lexington County SC Renter Fraction
The Lexington County household renter fraction peaked in in 2014 at 27.66% and is now 1.68% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Lexington County SC, South Carolina, US
History of Lexington County Renter Fraction
| Date | US | South Carolina | Lexington County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 25.98% |
| 2018 | 36.05% | 30.73% | 25.97% |
| 2017 | 36.13% | 31.25% | 26.05% |
| 2016 | 36.88% | 31.37% | 26.11% |
| 2015 | 36.97% | 31.87% | 27.08% |
| 2014 | 36.90% | 31.95% | 27.66% |
| 2013 | 36.50% | 31.83% | 25.51% |
| 2012 | 36.09% | 31.87% | 26.30% |
| 2011 | 35.42% | 30.83% | 26.82% |
| 2010 | 34.65% | 31.30% | 25.71% |
| 2009 | 34.13% | 29.86% | 22.42% |
| 2007 | 32.80% | 29.96% | 25.84% |
| 2005 | 33.10% | 29.91% | 24.93% |
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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