Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Abbeville County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,065 | $224,357 | $242,182 |
| Price Trend (Annual %) | 14.5% | 9.2% | 8.2% |
| Median Gross Rent | $633 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 1.0% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Abbeville County is about 63% lower than in South Carolina. Rent is about 44% lower than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Abbeville County, up about 14.5% and 1.0% a year respectively. Home prices are changing faster.
Median rent in Abbeville County rose about 12.8% between 2015 and 2023, from $561 to $633. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Abbeville County.
Buying the median-priced home in Abbeville County costs roughly 11.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Abbeville County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Abbeville County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,065 | $224,357 | $242,182 |
| Median Household Income | $52,386 | $66,957 | $78,145 |
| Price-to-Income Ratio | 1.6 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Abbeville County rose about 53.8%, while median household income rose about 57.8% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Abbeville County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 62.6% | 61.6% | 58.2% |
| Rental Rate | 18.8% | 24.6% | 31.3% |
| Vacancy Rate | 18.6% | 13.8% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Abbeville County has a homeownership rate of 62.6%, higher than the South Carolina average of 61.6%. Its housing vacancy rate is 18.6%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Abbeville County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1978 | 1989 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Abbeville County was built around 1978. On average, 2.5 people live in a home with about 5.4 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Abbeville County, South Carolina.
What is the median home price in Abbeville County, South Carolina?
The median home price in Abbeville County, South Carolina is $84,065, lower than the South Carolina average of $224,357.
What is the average home price in Abbeville County, South Carolina?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Abbeville County, South Carolina?
The median gross rent in Abbeville County, South Carolina is $633 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Abbeville County in 2020?
In 2020, the median gross rent in Abbeville County, South Carolina was $690 per month.
What is the price-to-rent ratio in Abbeville County, South Carolina?
The price-to-rent ratio in Abbeville County, South Carolina is about 11.1, meaning it would take roughly 11.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Abbeville County.
Are home prices or rent rising faster in Abbeville County, South Carolina?
Both home prices and rent are rising in Abbeville County, up about 14.5% and 1.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Abbeville County, South Carolina?
62.6% of households in Abbeville County, South Carolina own their home, higher than the South Carolina average of 61.6%.
What is the vacancy rate in Abbeville County, South Carolina?
The housing vacancy rate in Abbeville County, South Carolina is 18.6%, higher than the South Carolina average of 13.8%.