Charleston, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Charleston, SC Real Estate Data

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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Charleston Housing Market Information

With a population of 134,875, 53,845 total housing units (homes and apartments), and a median house value of $359,421, 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 49.24% of the city's housing units. Other types of housing that are prevalent in Charleston include large apartment complexes or high rise apartments ( 30.46%), duplexes, homes converted to apartments or other small apartment buildings ( 12.47%), and a few row houses and other attached homes ( 6.51%).

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 51.97% owning and 48.03% 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 ( 29.32%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.76%). There's also some housing in Charleston built before 1939 ( 12.04%).

Vacant housing appears to be an issue in Charleston. Fully 12.02% 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 36.15% over the last ten years, which is an average annual home appreciation rate of 3.13%, 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 3.38%, 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 1.73%, which equates to an annual appreciation rate of 7.10%.

Importantly, this makes Charleston one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to South Carolina, our data show that Charleston's latest annual appreciation rate is lower than 70% 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:
$359,421

Charleston, SC HOME PRICES

Value Range
> $1,317,000 6.3
$988,001 - $1,317,000 4.3
$658,001 - $988,000 10.4
$527,001 - $658,000 7.6
$395,001 - $527,000 17.9
$263,001 - $395,000 27.5
$132,001 - $263,000 20.6
$66,001 - $132,000 3.3
$0 - $66,000 2.1

Very High for SC
Very High for Nation

Value Relative to Nation Value Relative to State
13.7284671532847 4.44444444444444

Number Of Homes And Apartments:
53,845

Charleston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
126.13% 4.33%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,710 / per month

Homeownership Rate

Homeownership
Owners 51.97
Renters 48.03
Vacant 12.02

Housing Market Details

 

Age of Homes

AGE OF Charleston HOMES
2000 or Newer 29.3
1970 - 1999 38.9
1940 - 1969 19.8
1939 or Older 12.0

Types of Homes

TYPE OF Charleston HOMES
Single-Family 49.2
Townhomes 6.5
Small Apt. Buildings 12.5
Apt. Complexes 30.5
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Charleston HOMES
No Bedroom 1.95
1 Bedroom 12.01
2 Bedrooms 31.75
3 Bedrooms 36.63
4 Bedrooms 14.59
5 or more bedrooms 3.07