The top rental markets in South Carolina are Myrtle Beach, Greenville, Charleston, and Columbia.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
South Carolina Rental Trends:
South Carolina, one of the original 13 colonies, is a beautiful state thriving off of tourism, manufacturing, and services. It’s also home to big universities and is a state that relies heavily off of renting which is great news for property investors. Here are some highlights from the top rental markets in the Palmetto State.
Days on Market:
The city with the lowest days on market is Columbia at 11 – under the national average which sits at 15 days; Greenville has the highest number of days on market at 16.
Leads:
The top three towns for the largest amount of leads per listing are above or around the national average sitting at 38. Here they are:
- Columbia – 50 leads per listing
- Myrtle Beach – 41 leads per listing
- Charleston – 29 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Columbia comes below that with the lowest average rent of $946 for a two-bedroom compared to the highest rent in South Carolina’s at $1,601 in Charleston.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. South Carolina’s highest median sale price comes above that at $323,000 in Charleston with its lowest median sale price at $156,000 in Columbia.
Median Income:
South Carolina’s median income rings in at $42,240 – under the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in South Carolina’s cities between 2018 and 2019. With the largest being an increase of 42% in Charleston at $1,775, and the largest decrease in Myrtle Beach at -24.56% with the current average at around $1,075 – under the national average for security deposits which is $1,200.
Livability Score:
All of South Carolina’s cities have a livability score of 63 or higher with the highest being Charleston at 77!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.
