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 | Colleton County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $208,221 | $224,357 | $242,182 |
| Price Trend (Annual %) | 15.0% | 9.2% | 8.2% |
| Median Gross Rent | $905 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Colleton County is about 7% lower than in South Carolina. Rent is about 20% 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 Colleton County, up about 15.0% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Colleton County rose about 28.3% between 2015 and 2023, from $705 to $905. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 4.3 yearly household incomes in Colleton County.
Buying the median-priced home in Colleton County costs roughly 19.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Colleton County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Colleton County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $208,221 | $224,357 | $242,182 |
| Median Household Income | $48,590 | $66,957 | $78,145 |
| Price-to-Income Ratio | 4.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Colleton County rose about 100.9%, while median household income rose about 42.6% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Colleton County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.4% | 61.6% | 58.2% |
| Rental Rate | 21.5% | 24.6% | 31.3% |
| Vacancy Rate | 20.1% | 13.8% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Colleton County has a homeownership rate of 58.4%, lower than the South Carolina average of 61.6%. Its housing vacancy rate is 20.1%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Colleton County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Colleton County was built around 1987. On average, 2.4 people live in a home with about 5.8 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Colleton County, South Carolina.
What is the median home price in Colleton County, South Carolina?
The median home price in Colleton County, South Carolina is $208,221, lower than the South Carolina average of $224,357.
What is the average home price in Colleton 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 Colleton County, South Carolina?
The median gross rent in Colleton County, South Carolina is $905 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Colleton County in 2020?
In 2020, the median gross rent in Colleton County, South Carolina was $674 per month.
What is the price-to-rent ratio in Colleton County, South Carolina?
The price-to-rent ratio in Colleton County, South Carolina is about 19.2, meaning it would take roughly 19.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Colleton County.
Are home prices or rent rising faster in Colleton County, South Carolina?
Both home prices and rent are rising in Colleton County, up about 15.0% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Colleton County, South Carolina?
58.4% of households in Colleton County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Colleton County, South Carolina?
The housing vacancy rate in Colleton County, South Carolina is 20.1%, higher than the South Carolina average of 13.8%.