Lancaster, 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 Lancaster, South Carolina rental market.
Lancaster, South Carolina
Average Apartment Rent
$939
Y-o-Y Change in Average
Apartment Rent
9.2%
As of November 2024
Compared to a year ago, Lancaster, South Carolina apartments have recorded a 9.2% rent increase.
Lancaster, South Carolina Average apartment rent trend
Lancaster, South Carolina Average Apartment Rent
Lancaster, South Carolina Apartment rent ranges
At 60%, apartments priced $700 - $1000 represent the bulk of Lancaster, South Carolina rentals, while condos priced $500 - $700 hold the lowest share of the market – 13.33%.
Lancaster, South Carolina Housing tenure**
Renters take up 59% of Lancaster, South Carolina real estate, occupying a total of 1,884 units, while homeowners live in 1,327 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$24,975
Average household size of renter-occupied housing units**
2.41
Rental vacancy rate**
3.1%
Lancaster, South Carolina Renter-occupied housing units by no. of bedrooms**
There are 1,011 rentals in Lancaster, South Carolina with 2 beds making up the highest share of the market, at 54%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 13 units. Overall, the median number of rooms in Lancaster, South Carolina homes for rent is 4.5.
Lancaster, South Carolina Renter-occupied units by age of householder**
Most condos for rent in Lancaster, South Carolina are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Lancaster, South Carolina Renter-occupied housing units by family type**
Lancaster, South Carolina Renter-occupied housing units by the presence of own children**
A total of 1,099 apartments for rent in Lancaster, South Carolina, or 58% of all rentals are family households. Additionally, 37% of rental homes include children under the age of 18 – that’s 696 units. All in all, the median size of a renter-occupied household in Lancaster, South Carolina is 2.41.
Lancaster, South Carolina Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 8% of the rental market. In contrast, residents with less than a high school degree reside in 24% of the homes for rent in Lancaster, South Carolina.
Lancaster, South Carolina Renter-occupied units by year structure built**
The highest share of Lancaster, South Carolina apartment rentals, namely 31% or 584 units, were Built 1970 - 1979, followed by those Built 1960 - 1969 (16%, 309 units), and the ones Built 1990 - 1999 (14%, 266 units).
Lancaster, South Carolina Renter-occupied units by year householder moved in**
Median year renter moved into unit 2015
Most Lancaster, South Carolina renters (59%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Lancaster, South Carolina condos for rent is 2015.
Lancaster, South Carolina Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Lancaster, South Carolina renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 22% have No vehicle available.
Lancaster, South Carolina Means of transportation to work of householders living in renter-occupied housing units**
Lancaster, South Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**
Lancaster, 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 Lancaster, 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