Folly Beach, 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 Folly Beach, South Carolina rental market.

Folly Beach, South Carolina

Average Apartment Rent

$2,150

Y-o-Y Change in Average
Apartment Rent

-3.1%

As of November 2024

Compared to a year ago, Folly Beach, South Carolina apartments have recorded a -3.1% rent decrease.

Folly Beach, 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
Folly Beach $1,824 $1,816 $2,004 $2,110 $2,040 $2,153 $2,218 $2,123 $2,201 $2,150
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Folly Beach
National
Nov 2021
$1,824
$1,596
Mar 2022
$1,816
$1,635
Jul 2022
$2,004
$1,708
Nov 2022
$2,110
$1,726
Mar 2023
$2,040
$1,714
Jul 2023
$2,153
$1,739
Nov 2023
$2,218
$1,733
Mar 2024
$2,123
$1,727
Jul 2024
$2,201
$1,752
Nov 2024
$2,150
$1,748

Folly Beach, South Carolina Average Apartment Rent

Folly Beach, South Carolina Apartment rent ranges

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

At 54.7%, apartments priced Over $2,000 represent the bulk of Folly Beach, South Carolina rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 45.3%.

Folly Beach, South Carolina Housing tenure**

Renter occupied housing units 160
Owner occupied housing units 481

Renters take up 25% of Folly Beach, South Carolina real estate, occupying a total of 160 units, while homeowners live in 481 properties.

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

6.9

Average household size of renter-occupied housing units**

1.31

Rental vacancy rate**

51.9%

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

1 bed 32
3 beds 45
4 beds 83

There are 83 rentals in Folly Beach, South Carolina with 4 beds making up the highest share of the market, at 52%. Units with 1 bed, on the other hand, hold the lowest percentage (20%), amounting to 32 units. Overall, the median number of rooms in Folly Beach, South Carolina homes for rent is 6.9.

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

25 - 34 years 6
35 - 44 years 29
60 - 64 years 116
65 - 74 years 9

Most condos for rent in Folly Beach, South Carolina are occupied by residents in the 60 - 64 years age group (73%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 25 - 34 years age group make up the lowest share of the local rental market – 4%.

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

Family households 45
Non-Family Households 115

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

With related children of the householder under 18 0
No related children of the householder under 18 160

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

High school graduate (including equivalency) 52
Some college or associate's degree 86
Bachelor's degree or higher 22

In terms of education, renters holding bachelor degrees or higher make up 14% of the rental market. In contrast, residents with less than a high school degree reside in 0% of the homes for rent in Folly Beach, South Carolina.

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

Built 2010 - 2019 9
Built 2000 - 2009 77
Built 1960 - 1969 51
Built 1950 - 1959 23

The highest share of Folly Beach, South Carolina apartment rentals, namely 48% or 77 units, were Built 2000 - 2009, followed by those Built 1960 - 1969 (32%, 51 units), and the ones Built 1950 - 1959 (14%, 23 units).

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

Moved in 2018 to 2020 9
Moved in 2010 to 2017 29
Moved in 2000 to 2009 93
Moved in 1990 to 1999 29

Median year renter moved into unit 2005

Most Folly Beach, South Carolina renters (58%) moved in 2000 to 2009, while only 6% of them moved in 2018 to 2020. Overall, the median year renters have occupied their Folly Beach, South Carolina condos for rent is 2005.

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

No vehicle available 9
1 vehicle available 100
2 or more vehicles available 51

When it comes to transportation options, 63% of Folly Beach, South Carolina renters have 1 vehicle available per household, 32% of them have 2 or more vehicles available, and 6% have No vehicle available.

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

Car, truck, or van - drove alone 112
Car, truck, or van - carpooled 12
Worked at home 9

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

Same house as 1 year ago 210

Folly Beach, 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 Folly Beach, 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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