Department of Numbers

Lexington County South Carolina Residential Rent and Rental Statistics

The median monthly gross residential rent in Lexington County SC was $890 in 2017 according to the Census ACS survey.1 Average gross rent in Lexington County was $835 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 Lexington County median and average rent data will be released in September of 2019.

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.

Show dollars as: Nominal Real

Real Gross Rent in Lexington 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%
Lexington County SC Median Gross Rent $890 -0.45% +2.53%

Lexington County SC Real Gross Rent Trends

Median gross rent for Lexington County peaked in real terms in 2016 at $894 and is now $4 (0.45%) lower. Average gross rent for Lexington County peaked in real terms in 2014 at $895 and is now $60 (6.70%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Lexington County

Date US
Median
South Carolina
Median
Lexington County SC
Median
Lexington County SC
Average
2017 $1,012 $848 $890 $835
2016 $996 $854 $894 $871
2015 $987 $843 $884 $869
2014 $956 $810 $868 $895
2013 $924 $782 $873 $847
2012 $912 $778 $802 $801
2011 $912 $776 $846 $834
2010 $927 $789 $832 $826
2009 $931 $780 $856 $849
2008 $947 $775 $847 $821
2007 $899 $735 $808 $779
2006 $909 $762 $784 $765

Lexington 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 Lexington County South Carolina was 5.87% according to Census ACS data.

Rental Vacancy Rate in Lexington 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%
Lexington County SC 5.87% -0.46% +0.81%

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 7.27% to 5.87%. Data records for this series originated in 2005. From a 2007 post peak low of 3.82%, the rental vacancy rate has increased by 2.05%.

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

Rental vacancy rate in South Carolina

Historical Rental Vacancy Rate data for Lexington County

Date US South Carolina Lexington County SC
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%
2008 7.86% 12.38% 6.46%
2007 7.87% 11.99% 3.82%
2006 7.70% 11.42% 7.83%

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 17.75% in 2017 according to the ACS.

Lexington 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%
Lexington County SC 17.75% -0.66% -1.10%

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 1.39% to 17.75%.

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

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

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

Date US South Carolina Lexington County SC
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%
2008 19.00% 18.15% 16.94%
2007 18.66% 17.86% 16.74%
2006 18.90% 18.69% 15.76%

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 2017 26.05% of households were renters according to Census ACS data.

Lexington 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%
Lexington County SC 26.05% -0.06% -1.61%

Trends in the Lexington County SC Renter Fraction

The Lexington County household renter fraction peaked in in 2014 at 27.66% and is now 1.61% below that level. The origin year for the series is 2005.

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

Fraction of renters in Lexington County

History of Lexington County Renter Fraction

Date US South Carolina Lexington County SC
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%
2008 33.36% 29.42% 24.70%
2007 32.80% 29.96% 25.84%
2006 32.73% 29.66% 24.73%

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.