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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Charleston, SC Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Charleston, SC Housing Market Trends

With a population of 153,672, 63,760 total housing units (homes and apartments), and a median house value of $568,860, Charleston house prices are not only among the most expensive in South Carolina, Charleston real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Charleston, accounting for 49.65% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments ( 33.42%), duplexes, homes converted to apartments or other small apartment buildings ( 10.63%), and a few row houses and other attached homes ( 5.22%).

The most prevalent building size and type in Charleston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.97% owning and 46.04% renting.

Charleston homes and real estate are some of the newest in America. 39.16% of Charleston's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Charleston real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 31.47%), and between 1940-1969 ( 17.46%). There's also some housing in Charleston built before 1939 ( 11.91%).

Vacant housing appears to be an issue in Charleston. Fully 13.15% of the housing stock is classified as vacant. Left unchecked, vacant Charleston homes and apartments can be a drag on the real estate market, holding Charleston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Charleston Home Appreciation Rates

In the last 10 years, Charleston has experienced some of the highest home appreciation rates of any community in the nation. Charleston real estate appreciated 130.14% over the last ten years, which is an average annual home appreciation rate of 8.69%, putting Charleston in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Charleston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Charleston that despite a nationwide downturn in the housing market, Charleston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Charleston appreciation rates continue to be some of the highest in America, at 6.38%, which is higher than appreciation rates in 76.56% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Charleston. Charleston appreciation rates in the latest quarter were at 4.31%, which equates to an annual appreciation rate of 18.37%.

Relative to South Carolina, our data show that Charleston's latest annual appreciation rate is higher than 50% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Charleston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Charleston - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Charleston real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$568,860

Charleston, SC Home Prices
> $1,511,000
$1,133,001 - $1,511,000
$756,001 - $1,133,000
$605,001 - $756,000
$453,001 - $605,000
$302,001 - $453,000
$151,001 - $302,000
$76,001 - $151,000
$0 - $76,000
7.9%
7.9%
7.6%
7.6%
16.3%
16.3%
11.5%
11.5%
21.1%
21.1%
22.1%
22.1%
9.2%
9.2%
2.4%
2.4%
1.9%
1.9%
0% 100.0%
% of Homes
Very High

for South carolina

Very High

for nation

Number of Homes And Apartments:

63,760

Charleston Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,251 / per month

Homeownership Rate

Owners
Renters
Vacant
54.0%
54.0%
46.0%
46.0%
13.1%
13.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
39.2%
39.2%
31.5%
31.5%
17.5%
17.5%
11.9%
11.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
49.6%
49.6%
5.2%
5.2%
10.6%
10.6%
33.4%
33.4%
1.1%
1.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
13.8%
13.8%
29.2%
29.2%
36.0%
36.0%
15.1%
15.1%
3.9%
3.9%
0% 100.0%
% of Homes