Richland County South Carolina Residential Rent and Rental Statistics
The median monthly gross residential rent in Richland County SC was $963 in 2019 according to the Census ACS survey.1 Average gross rent in Richland County was $948 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 Richland County median and average rent data will be released in September of 2021.
Data is also available below for Richland County rental vacancy rates, Richland County rent as a percent of median income and the fraction of renters in Richland County.
Real Gross Rent in Richland 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% |
| Richland County SC Median Gross Rent | $963 | -3.70% | +0.31% |
Richland County SC Real Gross Rent Trends
Median gross rent for Richland County peaked in real terms in 2018 at $1,000 and is now $37 (3.70%) lower. Average gross rent for Richland County peaked in real terms in 2018 at $1,038 and is now $90 (8.67%) lower.
Real Gross Rent: Richland County SC Median, Richland County SC Average, South Carolina Median, US Median
Real Gross Rent History for Richland County
| Date | US Median |
South Carolina Median |
Richland County SC Median |
Richland County SC Average |
|---|---|---|---|---|
| 2019 | $1,097 | $922 | $963 | $948 |
| 2018 | $1,077 | $908 | $1,000 | $1,038 |
| 2017 | $1,043 | $874 | $949 | $970 |
| 2016 | $1,027 | $881 | $960 | $976 |
| 2015 | $1,017 | $869 | $939 | $954 |
| 2014 | $986 | $835 | $941 | $922 |
| 2013 | $953 | $807 | $895 | $894 |
| 2012 | $940 | $802 | $880 | $897 |
| 2011 | $941 | $800 | $901 | $903 |
| 2010 | $955 | $813 | $886 | $902 |
| 2009 | $960 | $805 | $895 | $868 |
| 2007 | $927 | $758 | $847 | $808 |
| 2005 | $910 | $764 | $821 | $828 |
Richland 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 Richland County South Carolina was 5.06% according to Census ACS data.
Rental Vacancy Rate in Richland 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% |
| Richland County SC | 5.06% | -1.50% | +0.40% |
Trends in Richland County SC Rental Vacancy Rate
The rental vacancy rate in Richland County peaked in 2009 at 11.57%. Since then it has fallen by 6.51% to 5.06%. Data records for this series originated in 2005. From a 2016 post peak low of 4.66%, the rental vacancy rate has increased by 0.40%.
Rental Vacancy Rate: Richland County SC, South Carolina, US
Historical Rental Vacancy Rate data for Richland County
| Date | US | South Carolina | Richland County SC |
|---|---|---|---|
| 2019 | 5.97% | 9.13% | 5.06% |
| 2018 | 6.15% | 9.99% | 6.56% |
| 2017 | 6.18% | 8.97% | 7.01% |
| 2016 | 5.89% | 8.49% | 4.66% |
| 2015 | 5.85% | 9.45% | 11.30% |
| 2014 | 6.32% | 10.54% | 8.46% |
| 2013 | 6.49% | 10.54% | 8.43% |
| 2012 | 6.77% | 12.68% | 11.44% |
| 2011 | 7.40% | 12.12% | 9.52% |
| 2010 | 8.17% | 13.69% | 11.05% |
| 2009 | 8.43% | 13.35% | 11.57% |
| 2007 | 7.87% | 11.99% | 8.81% |
| 2005 | 7.74% | 11.43% | 10.53% |
Rent as a Fraction of Income
Using median household income data for Richland County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Richland County, median monthly gross rent as a fraction of median household income was 22.10% in 2019 according to the ACS.
Richland 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% |
| Richland County SC | 22.10% | -0.49% | +0.95% |
Trends in Richland County SC Rent as a Fraction of Income
The fraction of median Richland County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 22.59%. Since then it has fallen by 0.49% to 22.10%.
Fraction of Income towards Rent: Richland County SC, South Carolina, US
Historical Data for Annual Rent as a Fraction of Income in Richland County South Carolina
| Date | US | South Carolina | Richland County SC |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 22.10% |
| 2018 | 20.50% | 20.46% | 22.59% |
| 2017 | 20.13% | 20.12% | 21.25% |
| 2016 | 20.43% | 20.39% | 21.15% |
| 2015 | 20.63% | 20.81% | 20.70% |
| 2014 | 20.89% | 20.98% | 21.37% |
| 2013 | 20.78% | 20.81% | 21.48% |
| 2012 | 20.65% | 20.99% | 20.70% |
| 2011 | 20.70% | 20.99% | 22.26% |
| 2010 | 20.50% | 20.79% | 20.72% |
| 2009 | 20.12% | 19.96% | 20.63% |
| 2007 | 18.66% | 17.86% | 18.03% |
| 2005 | 18.89% | 18.65% | 18.14% |
Renter Fraction in Richland County South Carolina
You can calculate the renter fraction in Richland 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 Richland County as a fraction of total Richland County households. In 2019 40.78% of households were renters according to Census ACS data.
Richland 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% |
| Richland County SC | 40.78% | -1.17% | -0.92% |
Trends in the Richland County SC Renter Fraction
The Richland County household renter fraction peaked in in 2018 at 41.95% and is now 1.17% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Richland County SC, South Carolina, US
History of Richland County Renter Fraction
| Date | US | South Carolina | Richland County SC |
|---|---|---|---|
| 2019 | 35.89% | 29.73% | 40.78% |
| 2018 | 36.05% | 30.73% | 41.95% |
| 2017 | 36.13% | 31.25% | 40.69% |
| 2016 | 36.88% | 31.37% | 41.70% |
| 2015 | 36.97% | 31.87% | 41.81% |
| 2014 | 36.90% | 31.95% | 41.59% |
| 2013 | 36.50% | 31.83% | 39.38% |
| 2012 | 36.09% | 31.87% | 38.79% |
| 2011 | 35.42% | 30.83% | 39.28% |
| 2010 | 34.65% | 31.30% | 39.38% |
| 2009 | 34.13% | 29.86% | 39.40% |
| 2007 | 32.80% | 29.96% | 36.61% |
| 2005 | 33.10% | 29.91% | 38.14% |
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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