Department of Numbers

Greenwood County South Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Greenwood County SC was $680 in 2017 according to the Census ACS survey.1 Average gross rent in Greenwood County was $603 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Greenwood County median and average rent data will be released in September of 2019.

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

Show dollars as: Nominal Real

Real Gross Rent in Greenwood County South Carolina (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
South Carolina Median Gross Rent $848 -0.70% +4.69%
Greenwood County SC Median Gross Rent $680 +3.19% +13.14%

Greenwood County SC Real Gross Rent Trends

Median gross rent for Greenwood County peaked in real terms in 2015 at $778 and is now $98 (12.60%) lower. Average gross rent for Greenwood County peaked in real terms in 2015 at $754 and is now $151 (20.03%) lower.

Real Gross Rent: Greenwood County SC Median, Greenwood County SC Average, South Carolina Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Greenwood County

Date US
Median
South Carolina
Median
Greenwood County SC
Median
Greenwood County SC
Average
2017 $1,012 $848 $680 $603
2016 $996 $854 $659 $617
2015 $987 $843 $778 $754
2014 $956 $810 $601 $672
2013 $924 $782 $640 $666
2012 $912 $778 $677 $611
2011 $912 $776 $657 $570
2010 $927 $789 $632 $608
2009 $931 $780 $628 $587
2008 $947 $775 $650 $698
2007 $899 $735 $640 $570
2006 $909 $762 $668 $605

Greenwood County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Greenwood County South Carolina was 10.32% according to Census ACS data.

Rental Vacancy Rate in Greenwood County South Carolina

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
South Carolina 8.97% +0.48% -1.57%
Greenwood County SC

Trends in Greenwood County SC Rental Vacancy Rate

The rental vacancy rate in Greenwood County peaked in 2007 at 17.77%. Since then it has fallen by 7.45% to 10.32%. Data records for this series originated in 2005. From a 2013 post peak low of 6.31%, the rental vacancy rate has increased by 4.01%.

Rental Vacancy Rate: Greenwood County SC, South Carolina, US

Rental vacancy rate in South Carolina

Historical Rental Vacancy Rate data for Greenwood County

Date US South Carolina Greenwood County SC
2017 6.18% 8.97%
2016 5.89% 8.49%
2015 5.85% 9.45% 10.32%
2014 6.32% 10.54% 9.38%
2013 6.49% 10.54% 6.31%
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% 16.62%
2007 7.87% 11.99% 17.77%
2006 7.70% 11.42%

Rent as a Fraction of Income

Using median household income data for Greenwood County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Greenwood County, median monthly gross rent as a fraction of median household income was 20.17% in 2017 according to the ACS.

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

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
South Carolina 20.12% -0.26% -0.86%
Greenwood County SC 20.17% -0.22% +1.55%

Trends in Greenwood County SC Rent as a Fraction of Income

The fraction of median Greenwood County household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 22.71%. Since then it has fallen by 2.54% to 20.17%.

Fraction of Income towards Rent: Greenwood County SC, South Carolina, US

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

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

Date US South Carolina Greenwood County SC
2017 20.13% 20.12% 20.17%
2016 20.43% 20.39% 20.39%
2015 20.63% 20.81% 20.99%
2014 20.89% 20.98% 18.62%
2013 20.78% 20.81% 22.11%
2012 20.65% 20.99% 21.91%
2011 20.70% 20.99% 21.09%
2010 20.50% 20.79% 22.71%
2009 20.12% 19.96% 16.24%
2008 19.00% 18.15% 17.32%
2007 18.66% 17.86% 16.32%
2006 18.90% 18.69% 17.35%

Renter Fraction in Greenwood County South Carolina

You can calculate the renter fraction in Greenwood 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 Greenwood County as a fraction of total Greenwood County households. In 2017 36.81% of households were renters according to Census ACS data.

Greenwood County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
South Carolina 31.25% -0.12% -0.70%
Greenwood County SC 36.81% -2.43% +5.08%

Trends in the Greenwood County SC Renter Fraction

The Greenwood County household renter fraction peaked in in 2016 at 39.24% and is now 2.43% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Greenwood County SC, South Carolina, US

Fraction of renters in Greenwood County

History of Greenwood County Renter Fraction

Date US South Carolina Greenwood County SC
2017 36.13% 31.25% 36.81%
2016 36.88% 31.37% 39.24%
2015 36.97% 31.87% 31.41%
2014 36.90% 31.95% 31.73%
2013 36.50% 31.83% 35.23%
2012 36.09% 31.87% 37.59%
2011 35.42% 30.83% 33.99%
2010 34.65% 31.30% 32.43%
2009 34.13% 29.86% 33.75%
2008 33.36% 29.42% 23.84%
2007 32.80% 29.96% 26.36%
2006 32.73% 29.66% 33.10%

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.