Isle Of Palms, 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 Isle Of Palms, South Carolina rental market.

Isle Of Palms, South Carolina

Average Apartment Rent

$2,280

Y-o-Y Change in Average
Apartment Rent

2.2%

As of November 2024

Compared to a year ago, Isle Of Palms, South Carolina apartments have recorded a 2.2% rent increase.

Isle Of Palms, 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
Isle of Palms $1,882 $1,859 $2,084 $2,108 $2,121 $2,213 $2,230 $2,195 $2,307 $2,280
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Isle of Palms
National
Nov 2021
$1,882
$1,596
Mar 2022
$1,859
$1,635
Jul 2022
$2,084
$1,708
Nov 2022
$2,108
$1,726
Mar 2023
$2,121
$1,714
Jul 2023
$2,213
$1,739
Nov 2023
$2,230
$1,733
Mar 2024
$2,195
$1,727
Jul 2024
$2,307
$1,752
Nov 2024
$2,280
$1,748

Isle Of Palms, South Carolina Average Apartment Rent

Isle Of Palms, South Carolina Apartment rent ranges

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

At 65.37%, apartments priced Over $2,000 represent the bulk of Isle Of Palms, South Carolina rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 34.63%.

Isle Of Palms, South Carolina Housing tenure**

Renter occupied housing units 194
Owner occupied housing units 1,754

Renters take up 10% of Isle Of Palms, South Carolina real estate, occupying a total of 194 units, while homeowners live in 1,754 properties.

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

6

Renter median household income**

$100,417

Average household size of renter-occupied housing units**

2.25

Rental vacancy rate**

86.2%

Isle Of Palms, South Carolina Renter-occupied housing units by no. of bedrooms**

1 bed 6
2 beds 40
3 beds 87
4 beds 36
5 or more beds 25

There are 87 rentals in Isle Of Palms, South Carolina with 3 beds making up the highest share of the market, at 45%. Units with 1 bed, on the other hand, hold the lowest percentage (3%), amounting to 6 units. Overall, the median number of rooms in Isle Of Palms, South Carolina homes for rent is 6.

Isle Of Palms, South Carolina Renter-occupied units by age of householder**

15 - 24 years 17
25 - 34 years 23
35 - 44 years 20
45 - 54 years 84
60 - 64 years 28
65 - 74 years 17
85 years and over 5

Most condos for rent in Isle Of Palms, South Carolina are occupied by residents in the 45 - 54 years age group (43%), followed by those in the 60 - 64 years age group (14%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.

Isle Of Palms, South Carolina Renter-occupied housing units by family type**

Family households 85
Non-Family Households 109

Isle Of Palms, South Carolina Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 53
No related children of the householder under 18 141

A total of 85 apartments for rent in Isle Of Palms, South Carolina, or 44% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 53 units. All in all, the median size of a renter-occupied household in Isle Of Palms, South Carolina is 2.25.

Isle Of Palms, South Carolina Renter-occupied housing units by educational attainment**

High school graduate (including equivalency) 5
Some college or associate's degree 86
Bachelor's degree or higher 103

In terms of education, renters holding bachelor degrees or higher make up 53% of the rental market. In contrast, residents with less than a high school degree reside in 0% of the homes for rent in Isle Of Palms, South Carolina.

Isle Of Palms, South Carolina Renter-occupied units by year structure built**

Built 1980 - 1989 43
Built 1970 - 1979 60
Built 1960 - 1969 17
Built 1950 - 1959 58
Built 1940 - 1949 16

The highest share of Isle Of Palms, South Carolina apartment rentals, namely 31% or 60 units, were Built 1970 - 1979, followed by those Built 1950 - 1959 (30%, 58 units), and the ones Built 1980 - 1989 (22%, 43 units).

Isle Of Palms, South Carolina Renter-occupied units by year householder moved in**

Moved in 2021 or later 23
Moved in 2018 to 2020 68
Moved in 2010 to 2017 66
Moved in 2000 to 2009 18
Moved in 1989 or earlier 19

Median year renter moved into unit 2017

Most Isle Of Palms, South Carolina renters (35%) moved in 2018 to 2020, while only 9% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Isle Of Palms, South Carolina condos for rent is 2017.

Isle Of Palms, South Carolina Renter-occupied housing units by vehicles available**

No vehicle available 5
1 vehicle available 63
2 vehicles available 79
3 vehicles available 31
4 or more vehicles available 16

When it comes to transportation options, 41% of Isle Of Palms, South Carolina renters have 2 vehicles available per household, 32% of them have 1 vehicle available, and 16% have 3 vehicles available.

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

Car, truck, or van - drove alone 131
Walked 20
Taxicab, motorcycle, bicycle, or other means 5
Worked at home 100

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

Same house as 1 year ago 229
Moved within same county 73
Moved from different county within same state 28
Moved from different state 106

Isle Of Palms, 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 Isle Of Palms, 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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