Sumter, 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

Sumter, SC Housing Market Trends

With 39,642 people, 15,605 houses or apartments, and a median cost of homes of $124,483, house prices in Sumter are solidly below the national average.

Single-family detached homes are the single most common housing type in Sumter, accounting for 63.87% of the city's housing units. Other types of housing that are prevalent in Sumter include large apartment complexes or high rise apartments ( 14.58%), duplexes, homes converted to apartments or other small apartment buildings ( 11.25%), and a few mobile homes or trailers ( 5.65%).

The most prevalent building size and type in Sumter are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.72% owning and 50.28% renting.

There is a lot of housing in Sumter 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 Sumter built between 2000 and later ( 25.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.64%). There's also some housing in Sumter built before 1939 ( 4.82%).

Vacant housing appears to be an issue in Sumter. Fully 13.08% of the housing stock is classified as vacant. Left unchecked, vacant Sumter homes and apartments can be a drag on the real estate market, holding Sumter 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.

Sumter Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Sumter, where house values have increased just 19.84%, which is annualized rate of 1.83%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Sumter appreciation rates have trailed the rest of the nation. In the last twelve months, Sumter's appreciation rate has been 3.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sumter were at -2.18%, which equates to an annual appreciation rate of -8.44%.

Notably, Sumter's appreciation rate in the latest quarter is one of the lowest in America.

Relative to South Carolina, our data show that Sumter'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 Sumter differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Sumter - 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 Sumter real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$124,483

Sumter, SC HOME PRICES

> $1,224,000
0.3%
0.3%
$918,001 - $1,224,000
0.3%
0.3%
$612,001 - $918,000
1.0%
1.0%
$489,001 - $612,000
0.8%
0.8%
$367,001 - $489,000
2.3%
2.3%
$245,001 - $367,000
9.8%
9.8%
$122,001 - $245,000
37.8%
37.8%
$61,001 - $122,000
33.1%
33.1%
$0 - $61,000
14.6%
14.6%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for SC

Value Relative To Nation

Number Of Homes And Apartments:
15,605

Sumter 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
51.27% 1.94%
3
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,239 / per month

Homeownership Rate

Owners
49.7%
49.7%
Renters
50.3%
50.3%
Vacant
13.1%
13.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
25.6%
25.6%
1970 - 1999
45.0%
45.0%
1940 - 1969
24.6%
24.6%
1939 or Older
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
63.9%
63.9%
Townhomes
4.7%
4.7%
Small Apt. Buildings
11.2%
11.2%
Apt. Complexes
14.6%
14.6%
Mobile Homes
5.7%
5.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.9%
1.9%
1 Bedroom
6.9%
6.9%
2 Bedrooms
24.8%
24.8%
3 Bedrooms
47.0%
47.0%
4 Bedrooms
16.5%
16.5%
5 or more bedrooms
2.9%
2.9%
0.0% 100.0%
% OF HOMES