Department of Numbers

South Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in South Carolina was $841 in 2016 according to the Census ACS survey.1 Average gross rent was $821 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 South Carolina median and average rent data will be released in September of 2018.

Data is also available below for South Carolina rental vacancy rates, South Carolina rent as a percent of median income and the fraction of renters in South Carolina.

Show dollars as: Nominal Real

Real Gross Rent in South Carolina (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
South Carolina Median Gross Rent $841 +1.33% +9.22%

South Carolina Real Gross Rent Trends

At $841, real median gross rent in South Carolina was at its highest level in 2016 since the series began in 2005. At $821, real average gross rent in South Carolina was at its highest level in 2016 since the series began in 2005.

Real Gross Rent in South Carolina: Median, Average, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for South Carolina

Date US Median South Carolina Median South Carolina Average
2016 $981 $841 $821
2015 $972 $830 $818
2014 $942 $798 $786
2013 $910 $770 $745
2012 $898 $766 $746
2011 $898 $764 $746
2010 $912 $777 $748
2009 $916 $768 $739
2008 $932 $763 $722
2007 $885 $724 $692
2006 $895 $751 $694
2005 $869 $729 $684

South Carolina Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for South Carolina was 8.49% according to Census ACS data.

Rental Vacancy Rate in South Carolina

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
South Carolina 8.49% -0.96% -2.05%

Trends in South Carolina Rental Vacancy Rate

The rental vacancy rate in South Carolina peaked in 2010 at 13.69%. Since then it has fallen by 5.20% to 8.49%. Data records for this series originated in 2005.

Rental Vacancy Rate: South Carolina, US

Rental vacancy rate in South Carolina

Historical Rental Vacancy Rate data for South Carolina

Date US South Carolina
2016 5.89% 8.49%
2015 5.85% 9.45%
2014 6.32% 10.54%
2013 6.49% 10.54%
2012 6.77% 12.68%
2011 7.40% 12.12%
2010 8.17% 13.69%
2009 8.43% 13.35%
2008 7.86% 12.38%
2007 7.87% 11.99%
2006 7.70% 11.42%
2005 7.74% 11.43%

South Carolina Rent as a Fraction of Income

Using median household income data for South Carolina, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For South Carolina, median monthly gross rent as a fraction of median household income was 20.39% in 2016 according to the ACS.

South Carolina Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
South Carolina 20.39% -0.42% -0.43%

Trends in South Carolina Rent as a Fraction of Income

The fraction of median South Carolina household income required to pay median monthly gross rent peaked in 2012 (relative to the 2005 series origin) at 20.99%. Since then it has fallen by 0.60% to 20.39%.

Fraction of Income towards Rent: South Carolina, US

Percent of median household income going towards median monthly gross rent in South Carolina

Historical Data for Annual Rent as a Fraction of Income in South Carolina

Date US South Carolina
2016 20.43% 20.39%
2015 20.63% 20.81%
2014 20.89% 20.98%
2013 20.78% 20.81%
2012 20.65% 20.99%
2011 20.70% 20.99%
2010 20.50% 20.79%
2009 20.12% 19.96%
2008 19.00% 18.15%
2007 18.66% 17.86%
2006 18.90% 18.69%
2005 18.89% 18.65%

Renter Fraction in South Carolina

You can calculate the renter fraction in South Carolina 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 South Carolina as a fraction of total South Carolina households. In 2016 31.37% of households were renters according to Census ACS data.

South Carolina Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
South Carolina 31.37% -0.50% -0.46%

Trends in the South Carolina Renter Fraction

The South Carolina household renter fraction peaked in in 2014 at 31.95% and is now 0.58% below that level. The origin year for the series is 2005.

Fraction of Renting Households: South Carolina, US

Fraction of renters in South Carolina

History of South Carolina Renter Fraction

Date US South Carolina
2016 36.88% 31.37%
2015 36.97% 31.87%
2014 36.90% 31.95%
2013 36.50% 31.83%
2012 36.09% 31.87%
2011 35.42% 30.83%
2010 34.65% 31.30%
2009 34.13% 29.86%
2008 33.36% 29.42%
2007 32.80% 29.96%
2006 32.73% 29.66%
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.