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 | Dillon County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,273 | $224,357 | $242,182 |
| Price Trend (Annual %) | 11.1% | 9.2% | 8.2% |
| Median Gross Rent | $691 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dillon County is about 68% lower than in South Carolina. Rent is about 39% 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 Dillon County, up about 11.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Dillon County rose about 30.6% between 2015 and 2023, from $529 to $691. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Dillon County.
Buying the median-priced home in Dillon County costs roughly 8.7 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 Dillon County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Dillon County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $72,273 | $224,357 | $242,182 |
| Median Household Income | $43,982 | $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 Dillon County fell about 1.7%, while median household income rose about 57.6% 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 | Dillon County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 49.6% | 61.6% | 58.2% |
| Rental Rate | 32.6% | 24.6% | 31.3% |
| Vacancy Rate | 17.8% | 13.8% | 10.6% |
| Median Tenure (years) | 19.0 | 15.0 | 15.0 |
| Median Year Moved In | 2007 | 2011 | 2011 |
Dillon County has a homeownership rate of 49.6%, lower than the South Carolina average of 61.6%. Its housing vacancy rate is 17.8%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Dillon County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1984 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Dillon County was built around 1984. On average, 2.6 people live in a home with about 5.2 rooms, staying for about 19.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dillon County, South Carolina.
What is the median home price in Dillon County, South Carolina?
The median home price in Dillon County, South Carolina is $72,273, lower than the South Carolina average of $224,357.
What is the average home price in Dillon 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 Dillon County, South Carolina?
The median gross rent in Dillon County, South Carolina is $691 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Dillon County in 2020?
In 2020, the median gross rent in Dillon County, South Carolina was $597 per month.
What is the price-to-rent ratio in Dillon County, South Carolina?
The price-to-rent ratio in Dillon County, South Carolina is about 8.7, meaning it would take roughly 8.7 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 Dillon County.
Are home prices or rent rising faster in Dillon County, South Carolina?
Both home prices and rent are rising in Dillon County, up about 11.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dillon County, South Carolina?
49.6% of households in Dillon County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Dillon County, South Carolina?
The housing vacancy rate in Dillon County, South Carolina is 17.8%, higher than the South Carolina average of 13.8%.