Report: SC Rents Stabilize; York County's Keep Climbing
The coronavirus quarantine’s effect on rents in South Carolina and bordering metros has largely been one of flattening out, according to data released Thursday by ApartmentList.
ApartmentList’s April market report shows that over 13 sampled areas in South Carolina, North Carolina, and Georgia, average rent prices since March have moved little more than a half-percent at most in either direction, a trend mirrored in statewide rent prices over the three states.
Slow, but notable upticks in average rents have occurred in most of the markets measured over the course of a year.
The largest increases are in the Rock Hill/Fort Mill/Charlotte metro area. Rents in Fort Mill climbed 0.6 percent over April, the largest month-to-month uptick of the 13 metros. Compared to a year ago, rents in Rock Hill saw the largest increase, up 6.3 percent.
The most notable drops in average rents occurred in Charlotte (down 0.5 percent since March) and Sumter (down 1.9 percent compared to a year ago).
The highest overall rents in April were in Bluffton, where one-bedroom apartments on average rented at $1,164 per month and two-bedrooms rented for an average $1,334. The lowest rents were in Sumter. One-bedrooms rented for $596; two-bedrooms for $735.
Overall, South Carolina’s average rent remained flat from March and was up 1.3 percent from last year. North Carolina and Georgia saw slight dips in rents since March, 0.2 percent and 0.1 percent, respectively. But each saw upticks in rents compared to a year ago – North Carolina was up 1.8 percent; Georgia was up 0.7 percent.
Scott Morgan is the Upstate Multimedia Reporter for South Carolina Publicradio. Follow Scott on Twitter @ByScottMorgan