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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 137,566 people, 55,889 houses or apartments, and a median cost of homes of $413,946, 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 50.13% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments ( 31.09%), duplexes, homes converted to apartments or other small apartment buildings ( 11.87%), and a few row houses and other attached homes ( 5.66%).

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 53.13% owning and 46.87% renting.

There is a lot of housing in Charleston built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Charleston built between 2000 and later ( 32.59%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.40%). There's also some housing in Charleston built before 1939 ( 12.25%).

Vacant housing appears to be an issue in Charleston. Fully 12.69% 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 76.65% over the last ten years, which is an average annual home appreciation rate of 5.85%, putting Charleston in the top 20% 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.

Over the last year, Charleston appreciation rates have trailed the rest of the nation. In the last twelve months, Charleston's appreciation rate has been 7.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Charleston were at 3.18%, which equates to an annual appreciation rate of 13.33%.

Relative to South Carolina, our data show that Charleston's latest annual appreciation rate is lower than 80% 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:
$413,946

Charleston, SC HOME PRICES

> $1,238,000
7.2%
7.2%
$928,001 - $1,238,000
6.0%
6.0%
$619,001 - $928,000
14.6%
14.6%
$495,001 - $619,000
9.9%
9.9%
$371,001 - $495,000
18.1%
18.1%
$248,001 - $371,000
23.2%
23.2%
$124,001 - $248,000
14.6%
14.6%
$62,001 - $124,000
4.5%
4.5%
$0 - $62,000
2.0%
2.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for SC

Value Relative To Nation

Number Of Homes And Apartments:
55,889

Charleston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
148.07% 4.32%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,042 / per month

Homeownership Rate

Owners
53.1%
53.1%
Renters
46.9%
46.9%
Vacant
12.7%
12.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
32.6%
32.6%
1970 - 1999
36.8%
36.8%
1940 - 1969
18.4%
18.4%
1939 or Older
12.2%
12.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.1%
50.1%
Townhomes
5.7%
5.7%
Small Apt. Buildings
11.9%
11.9%
Apt. Complexes
31.1%
31.1%
Mobile Homes
1.2%
1.2%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.0%
2.0%
1 Bedroom
11.4%
11.4%
2 Bedrooms
31.6%
31.6%
3 Bedrooms
36.9%
36.9%
4 Bedrooms
14.8%
14.8%
5 or more bedrooms
3.3%
3.3%
0.0% 100.0%
% OF HOMES