Sullivan's Island, 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 Sullivan's Island, South Carolina rental market.

Sullivan's Island, 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, Sullivan's Island, South Carolina apartments have recorded a 2.2% rent increase.

Sullivan's Island, 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
Sullivan's Island $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
Sullivan's Island
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

Sullivan's Island, South Carolina Average Apartment Rent

Sullivan's Island, 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 Sullivan's Island, South Carolina rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 34.63%.

Sullivan's Island, South Carolina Housing tenure**

Renter occupied housing units 133
Owner occupied housing units 713

Renters take up 16% of Sullivan's Island, South Carolina real estate, occupying a total of 133 units, while homeowners live in 713 properties.

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

5.8

Renter median household income**

$113,750

Average household size of renter-occupied housing units**

2.98

Rental vacancy rate**

30.5%

Sullivan's Island, South Carolina Renter-occupied housing units by no. of bedrooms**

1 bed 16
2 beds 27
3 beds 16
4 beds 70
5 or more beds 4

There are 70 rentals in Sullivan's Island, South Carolina with 4 beds making up the highest share of the market, at 53%. Units with 5 or more beds, on the other hand, hold the lowest percentage (3%), amounting to 4 units. Overall, the median number of rooms in Sullivan's Island, South Carolina homes for rent is 5.8.

Sullivan's Island, South Carolina Renter-occupied units by age of householder**

15 - 24 years 10
25 - 34 years 13
35 - 44 years 19
45 - 54 years 45
55 - 59 years 11
60 - 64 years 22
65 - 74 years 4
75 - 84 years 5
85 years and over 4

Most condos for rent in Sullivan's Island, South Carolina are occupied by residents in the 45 - 54 years age group (34%), followed by those in the 60 - 64 years age group (17%). At the same time, people in the 65 - 74 years age group make up the lowest share of the local rental market – 3%.

Sullivan's Island, South Carolina Renter-occupied housing units by family type**

Family households 75
Non-Family Households 58

Sullivan's Island, South Carolina Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 47
No related children of the householder under 18 86

A total of 75 apartments for rent in Sullivan's Island, South Carolina, or 56% of all rentals are family households. Additionally, 35% of rental homes include children under the age of 18 – that’s 47 units. All in all, the median size of a renter-occupied household in Sullivan's Island, South Carolina is 2.98.

Sullivan's Island, South Carolina Renter-occupied housing units by educational attainment**

High school graduate (including equivalency) 9
Some college or associate's degree 52
Bachelor's degree or higher 72

In terms of education, renters holding bachelor degrees or higher make up 54% of the rental market. In contrast, residents with less than a high school degree reside in 0% of the homes for rent in Sullivan's Island, South Carolina.

Sullivan's Island, South Carolina Renter-occupied units by year structure built**

Built 1990 - 1999 16
Built 1980 - 1989 22
Built 1970 - 1979 10
Built 1950 - 1959 33
Built 1940 - 1949 4
Built 1939 or earlier 48

The highest share of Sullivan's Island, South Carolina apartment rentals, namely 36% or 48 units, were Built 1939 or earlier, followed by those Built 1950 - 1959 (25%, 33 units), and the ones Built 1980 - 1989 (17%, 22 units).

Sullivan's Island, South Carolina Renter-occupied units by year householder moved in**

Moved in 2021 or later 5
Moved in 2018 to 2020 52
Moved in 2010 to 2017 38
Moved in 2000 to 2009 4
Moved in 1990 to 1999 34

Median year renter moved into unit 2016

Most Sullivan's Island, South Carolina renters (39%) moved in 2018 to 2020, while only 3% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Sullivan's Island, South Carolina condos for rent is 2016.

Sullivan's Island, South Carolina Renter-occupied housing units by vehicles available**

No vehicle available 5
1 vehicle available 26
2 vehicles available 57
3 vehicles available 19
4 or more vehicles available 26

When it comes to transportation options, 43% of Sullivan's Island, South Carolina renters have 2 vehicles available per household, 20% of them have 4 or more vehicles available, and 20% have 1 vehicle available.

Sullivan's Island, South Carolina Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 129
Car, truck, or van - carpooled 4
Walked 18
Taxicab, motorcycle, bicycle, or other means 9
Worked at home 4

Sullivan's Island, South Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 298
Moved within same county 77

Sullivan's Island, 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 Sullivan's Island, 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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