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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.



Chester, 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

Chester, SC Housing Market Trends

With a population of 5,187, 2,160 total housing units (homes and apartments), and a median house value of $135,314, house prices in Chester are solidly below the national average.

Single-family detached homes are the single most common housing type in Chester, accounting for 73.95% of the city's housing units. Other types of housing that are prevalent in Chester include large apartment complexes or high rise apartments ( 11.94%), duplexes, homes converted to apartments or other small apartment buildings ( 8.04%), and a few mobile homes or trailers ( 6.07%).

The most prevalent building size and type in Chester are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.60% owning and 51.40% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Chester's housing was primarily built during this period, from the '40s through the '60s. A full 47.70% of the city's housing hails from this era. Other housing ages represented in Chester include homes built between 1970-1999 ( 30.34%) and housing constructed before 1939 ( 17.24%). There's also some housing in Chester built between 2000 and later ( 4.72%).

Vacant housing appears to be an issue in Chester. Fully 16.51% of the housing stock is classified as vacant. Left unchecked, vacant Chester homes and apartments can be a drag on the real estate market, holding Chester 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.

Chester Home Appreciation Rates

Appreciation rates for homes in Chester have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 84.38%, which ranks in the top 50% nationwide. This equates to an annual average Chester house appreciation rate of 6.31%.

Over the last year, Chester appreciation rates have trailed the rest of the nation. In the last twelve months, Chester's appreciation rate has been -4.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chester were at 2.63%, which equates to an annual appreciation rate of 10.94%.

Relative to South Carolina, our data show that Chester's latest annual appreciation rate is lower than 90% 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 Chester differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Chester - 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 Chester real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$135,314

Chester, SC Home Prices
> $1,519,000
$1,140,001 - $1,519,000
$760,001 - $1,140,000
$608,001 - $760,000
$456,001 - $608,000
$304,001 - $456,000
$152,001 - $304,000
$76,001 - $152,000
$0 - $76,000
1.3%
1.3%
0.0%
0.0%
1.3%
1.3%
0.0%
0.0%
2.1%
2.1%
5.1%
5.1%
21.3%
21.3%
34.9%
34.9%
33.9%
33.9%
0% 100.0%
% of Homes
Low

for South carolina

Very Low

for nation

Number of Homes And Apartments:

2,160

Chester Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,641 / per month

Homeownership Rate

Owners
Renters
Vacant
48.6%
48.6%
51.4%
51.4%
16.5%
16.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.7%
4.7%
30.3%
30.3%
47.7%
47.7%
17.2%
17.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.9%
73.9%
0.0%
0.0%
8.0%
8.0%
11.9%
11.9%
6.1%
6.1%
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
0.0%
0.0%
10.0%
10.0%
35.4%
35.4%
44.9%
44.9%
8.3%
8.3%
1.4%
1.4%
0% 100.0%
% of Homes

Zip Codes in Chester, SC