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 | Laurens County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $36,709 | $224,357 | $242,182 |
| Price Trend (Annual %) | -7.3% | 9.2% | 8.2% |
| Median Gross Rent | $847 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 3.0% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Laurens County is about 84% lower than in South Carolina. Rent is about 25% lower than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Laurens County: home prices fell about 7.3% a year while rent rose about 3.0% a year. That is an unusual pattern worth watching.
Median rent in Laurens County rose about 29.4% between 2015 and 2023, from $654 to $847. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Laurens County.
Buying the median-priced home in Laurens County costs roughly 3.6 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 Laurens County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Laurens County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $36,709 | $224,357 | $242,182 |
| Median Household Income | $56,130 | $66,957 | $78,145 |
| Price-to-Income Ratio | 0.7 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Laurens County fell about 54.6%, while median household income rose about 44.2% 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 | Laurens County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.6% | 61.6% | 58.2% |
| Rental Rate | 24.3% | 24.6% | 31.3% |
| Vacancy Rate | 17.1% | 13.8% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Laurens County has a homeownership rate of 58.6%, lower than the South Carolina average of 61.6%. Its housing vacancy rate is 17.1%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Laurens County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1987 | 1989 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Laurens County was built around 1987. On average, 2.5 people live in a home with about 5.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Laurens County, South Carolina.
What is the median home price in Laurens County, South Carolina?
The median home price in Laurens County, South Carolina is $36,709, lower than the South Carolina average of $224,357.
What is the average home price in Laurens 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 Laurens County, South Carolina?
The median gross rent in Laurens County, South Carolina is $847 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Laurens County in 2020?
In 2020, the median gross rent in Laurens County, South Carolina was $779 per month.
What is the price-to-rent ratio in Laurens County, South Carolina?
The price-to-rent ratio in Laurens County, South Carolina is about 3.6, meaning it would take roughly 3.6 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 Laurens County.
Are home prices or rent rising faster in Laurens County, South Carolina?
Home prices and rent are moving in opposite directions in Laurens County: home prices fell about 7.3% a year while rent rose about 3.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Laurens County, South Carolina?
58.6% of households in Laurens County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Laurens County, South Carolina?
The housing vacancy rate in Laurens County, South Carolina is 17.1%, higher than the South Carolina average of 13.8%.