Charleston, South Carolina Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Charleston, South Carolina rental market.

Charleston, South Carolina

Average Apartment Rent

$2,028

Y-o-Y Change in Average
Apartment Rent

0.7%

As of November 2024

Compared to a year ago, Charleston, South Carolina apartments have recorded a 0.7% rent increase.

Charleston, South Carolina Average apartment rent trend

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Charleston $1,708 $1,720 $1,872 $1,947 $1,938 $1,989 $1,990 $1,973 $2,010 $2,028
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Charleston
National
Nov 2021
$1,708
$1,596
Mar 2022
$1,720
$1,635
Jul 2022
$1,872
$1,708
Nov 2022
$1,947
$1,726
Mar 2023
$1,938
$1,714
Jul 2023
$1,989
$1,739
Nov 2023
$1,990
$1,733
Mar 2024
$1,973
$1,727
Jul 2024
$2,010
$1,752
Nov 2024
$2,028
$1,748

Charleston, South Carolina Average Apartment Rent

Charleston, South Carolina Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 43.01%, apartments priced $1,500 - $2,000 represent the bulk of Charleston, South Carolina rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 18.03%.

Charleston, South Carolina Housing tenure**

Renter occupied housing units 28,947
Owner occupied housing units 36,251

Renters take up 44% of Charleston, South Carolina real estate, occupying a total of 28,947 units, while homeowners live in 36,251 properties.

Median number of rooms of renter-occupied housing units**

4

Renter median household income**

$57,794

Average household size of renter-occupied housing units**

2.03

Rental vacancy rate**

6.9%

Charleston, South Carolina Renter-occupied housing units by no. of bedrooms**

No bedrooms 1,183
1 bed 8,731
2 beds 13,070
3 beds 4,703
4 beds 1,153

There are 13,070 rentals in Charleston, South Carolina with 2 beds making up the highest share of the market, at 45%. Units with 4 beds, on the other hand, hold the lowest percentage (4%), amounting to 1,153 units. Overall, the median number of rooms in Charleston, South Carolina homes for rent is 4.

Charleston, South Carolina Renter-occupied units by age of householder**

15 - 24 years 3,268
25 - 34 years 10,346
35 - 44 years 4,111
45 - 54 years 2,891
55 - 59 years 1,899
60 - 64 years 1,775
65 - 74 years 2,299
75 - 84 years 1,170
85 years and over 1,188

Most condos for rent in Charleston, South Carolina are occupied by residents in the 25 - 34 years age group (36%), followed by those in the 35 - 44 years age group (14%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 4%.

Charleston, South Carolina Renter-occupied housing units by family type**

Family households 9,580
Non-Family Households 19,367

Charleston, South Carolina Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 4,660
No related children of the householder under 18 24,287

A total of 9,580 apartments for rent in Charleston, South Carolina, or 33% of all rentals are family households. Additionally, 16% of rental homes include children under the age of 18 – that’s 4,660 units. All in all, the median size of a renter-occupied household in Charleston, South Carolina is 2.03.

Charleston, South Carolina Renter-occupied housing units by educational attainment**

Less than high school graduate 1,378
High school graduate (including equivalency) 5,095
Some college or associate's degree 7,744
Bachelor's degree or higher 14,730

In terms of education, renters holding bachelor degrees or higher make up 51% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Charleston, South Carolina.

Charleston, South Carolina Renter-occupied units by year structure built**

Built 2020 or later 357
Built 2010 - 2019 6,835
Built 2000 - 2009 4,588
Built 1990 - 1999 3,025
Built 1980 - 1989 3,643
Built 1970 - 1979 3,018
Built 1960 - 1969 2,359
Built 1950 - 1959 1,417
Built 1940 - 1949 609
Built 1939 or earlier 3,096

The highest share of Charleston, South Carolina apartment rentals, namely 24% or 6,835 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (16%, 4,588 units), and the ones Built 1980 - 1989 (13%, 3,643 units).

Charleston, South Carolina Renter-occupied units by year householder moved in**

Moved in 2021 or later 3,263
Moved in 2018 to 2020 12,892
Moved in 2010 to 2017 10,515
Moved in 2000 to 2009 1,481
Moved in 1990 to 1999 363
Moved in 1989 or earlier 433

Median year renter moved into unit 2018

Most Charleston, South Carolina renters (45%) moved in 2018 to 2020, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Charleston, South Carolina condos for rent is 2018.

Charleston, South Carolina Renter-occupied housing units by vehicles available**

No vehicle available 4,066
1 vehicle available 13,976
2 vehicles available 8,612
3 vehicles available 1,902
4 or more vehicles available 391

When it comes to transportation options, 48% of Charleston, South Carolina renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 14% have No vehicle available.

Charleston, South Carolina Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 24,391
Car, truck, or van - carpooled 2,465
Public transportation (excluding taxicab) 495
Walked 2,363
Taxicab, motorcycle, bicycle, or other means 1,385
Worked at home 4,183

Charleston, South Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 41,905
Moved within same county 7,236
Moved from different county within same state 3,037
Moved from different state 5,681
Moved from abroad 385

Charleston, South Carolina Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Charleston, South Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

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