Gaffney, South Carolina Rental Market Trends
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 Gaffney, South Carolina rental market.
Gaffney, South Carolina
Average Apartment Rent
$1,079
Y-o-Y Change in Average
Apartment Rent
6.1%
As of November 2024
Compared to a year ago, Gaffney, South Carolina apartments have recorded a 6.1% rent increase.
Gaffney, South Carolina Average apartment rent trend
Gaffney, South Carolina Average Apartment Rent
Gaffney, South Carolina Apartment rent ranges
At 62.83%, apartments priced $1,000 - $1,500 represent the bulk of Gaffney, South Carolina rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 2.7%.
Gaffney, South Carolina Housing tenure**
Renters take up 47% of Gaffney, South Carolina real estate, occupying a total of 2,167 units, while homeowners live in 2,444 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$29,447
Average household size of renter-occupied housing units**
2.54
Rental vacancy rate**
5.2%
Gaffney, South Carolina Renter-occupied housing units by no. of bedrooms**
There are 927 rentals in Gaffney, South Carolina with 2 beds making up the highest share of the market, at 43%. Units with No bedrooms, on the other hand, hold the lowest percentage (5%), amounting to 102 units. Overall, the median number of rooms in Gaffney, South Carolina homes for rent is 4.5.
Gaffney, South Carolina Renter-occupied units by age of householder**
Most condos for rent in Gaffney, South Carolina are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (24%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 1%.
Gaffney, South Carolina Renter-occupied housing units by family type**
Gaffney, South Carolina Renter-occupied housing units by the presence of own children**
A total of 1,075 apartments for rent in Gaffney, South Carolina, or 50% of all rentals are family households. Additionally, 34% of rental homes include children under the age of 18 – that’s 732 units. All in all, the median size of a renter-occupied household in Gaffney, South Carolina is 2.54.
Gaffney, South Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 19% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Gaffney, South Carolina.
Gaffney, South Carolina Renter-occupied units by year structure built**
The highest share of Gaffney, South Carolina apartment rentals, namely 29% or 633 units, were Built 1990 - 1999, followed by those Built 1960 - 1969 (12%, 262 units), and the ones Built 2000 - 2009 (12%, 259 units).
Gaffney, South Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Gaffney, South Carolina renters (40%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Gaffney, South Carolina condos for rent is 2018.
Gaffney, South Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 39% of Gaffney, South Carolina renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 25% have No vehicle available.
Gaffney, South Carolina Means of transportation to work of householders living in renter-occupied housing units**
Gaffney, South Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Gaffney, 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
