Hanahan, South Carolina Housing Market Prices
Hanahan Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 8% above the South Carolina median$259,261
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Median rent 17% above the South Carolina median$1,382
Housing Market Overview
| Metric | Hanahan | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,261 | $239,609 | $248,835 |
| Price Trend (Annual %) | 12.5% | 8.9% | 7.5% |
| Median Gross Rent | $1,382 | $1,179 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hanahan is about 8% higher than in South Carolina. Rent is about 17% higher than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hanahan, up about 12.5% and 5.1% a year respectively. Home prices are changing faster.
Median rent in Hanahan rose about 49.2% between 2015 and 2024, from $926 to $1,382. Over the same span, rent in South Carolina rose about 49.3%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Hanahan.
Buying the median-priced home in Hanahan costs roughly 15.6 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 Hanahan. The price-to-rent ratio in South Carolina is about 16.9.
| Metric | Hanahan | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $259,261 | $239,609 | $248,835 |
| Median Household Income | $84,455 | $69,383 | $80,455 |
| Price-to-Income Ratio | 3.1 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hanahan rose about 139.1%, while median household income rose about 62.3% between 2009 and 2025 — 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 | Hanahan | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.1% | 62.3% | 58.5% |
| Rental Rate | 31.1% | 24.4% | 31.2% |
| Vacancy Rate | 7.8% | 13.3% | 10.2% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
Hanahan has a homeownership rate of 61.1%, lower than the South Carolina average of 62.3%. Its housing vacancy rate is 7.8%, compared with 13.3% in South Carolina.
Housing Stock
| Metric | Hanahan | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.61 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1982 | 1990 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Hanahan was built around 1982. On average, 2.6 people live in a home with about 5.8 rooms, staying for about 11.0 years on average.
Hanahan, SC Housing Compared With Nearby Cities
Hanahan, SC is the smallest of the 4 cities compared here, 21,136 residents against a local median of 123,884. Where Hanahan, SC breaks from the cities next to it is median rent, sitting 20% below the local median of $1,717 at $1,382.
Median home price tells the same story from another angle: $259,261 against a local median of $321,076, 19% below it. The cities themselves spread $305 on median rent, so Hanahan, SC sits at one end of an already wide local range rather than apart from it. Hanahan, SC has the 4th highest median rent of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hanahan, SC | 21,136 | $259,261 #4/4 | $1,382 #4/4 | 66.3% #2/4 |
| Goose Creek, SC | 42,757 | $321,076 | $1,724 | 71.6% |
| North Charleston, SC | 123,884 | $282,140 | $1,419 | 51.1% |
| Charleston, SC | 138,300 | $424,827 | $1,717 | 59.0% |
Frequently Asked Questions
Common questions about the housing market in Hanahan, South Carolina.
What is the median home price in Hanahan, South Carolina?
The median home price in Hanahan, South Carolina is $259,261, higher than the South Carolina average of $239,609.
What is the average home price in Hanahan, South Carolina?
The typical home price in Hanahan, South Carolina, reported as the median sale price, is $259,261. 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 Hanahan, South Carolina?
The median gross rent in Hanahan, South Carolina is $1,382 per month, higher than the South Carolina average of $1,179.
What was the median gross rent in Hanahan in 2020?
In 2020, the median gross rent in Hanahan, South Carolina was $1,072 per month.
What is the price-to-rent ratio in Hanahan, South Carolina?
The price-to-rent ratio in Hanahan, South Carolina is about 15.6, meaning it would take roughly 15.6 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 Hanahan.
Are home prices or rent rising faster in Hanahan, South Carolina?
Both home prices and rent are rising in Hanahan, up about 12.5% and 5.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hanahan, South Carolina?
61.1% of households in Hanahan, South Carolina own their home, lower than the South Carolina average of 62.3%.
What is the vacancy rate in Hanahan, South Carolina?
The housing vacancy rate in Hanahan, South Carolina is 7.8%, lower than the South Carolina average of 13.3%.
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