How many renters live in South Carolina?
The State of South Carolina has 547,950 people living in 222,007 households.
There are 141,864 renters living in 66,782 renter households in this State. Renters make up 25.89 percent of the population living in South Carolina.
What is the rental market like in South Carolina?
There are an estimated 239,918 housing units in the South Carolina area. Of these, 74,355 units are rental homes, making up 31 percent of the housing market. For every renter household in South Carolina, there are 1 rental units.
What is the vacancy rate for rentals in South Carolina?
The rental vacancy rate in South Carolina is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in South Carolina for each bedroom size?
Occupied Rental Units by Size in South Carolina
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 3,980 | 13,529 | 27,643 | 16,792 | 4,242 |
Occupied Rental Units by Size in South Carolina
A large number of apartments in South Carolina have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in South Carolina are overburdened by housing costs?
Among renter households in this market, 47 percent have housing cost burden. Further, 22 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How many units are rented at Fair Market Rent (FMR) in South Carolina?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 1,511 | 38 percent |
| One BR | 7,184 | 53 percent |
| Two BR | 14,725 | 53 percent |
Rental Units Below FMR in South Carolina
How many affordable rental units are in South Carolina?
There are a variety of federal affordable housing programs serving households in South Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 5,507 |
| Public Housing | 179 |
| Section 8 Project-Based Rental Assistance | 2,395 |
| Section 202 Supportive Housing for the Elderly | 150 |
| Section 811 Supportive Housing for Persons with Disabilities | 97 |
| USDA Section 515 Rural Rental Housing | 268 |
Tracked Units by Federal Program in South Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in South Carolina
South Carolina features 47,896 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in South Carolina
There are 25,743 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in South Carolina.
Housing Choice Vouchers in South Carolina
On average, Section 8 Housing Choice vouchers pay South Carolina landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in South Carolina.
The maximum amount a voucher would pay on behalf of a low-income tenant in South Carolina for a two-bedroom apartment is between $1,085 and $1,327.
Sourced from federal housing data and AffordableHousingOnline.com research.
