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 | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $159,110 | $224,357 | $242,182 |
| Price Trend (Annual %) | 0.2% | 9.2% | 8.2% |
| Median Gross Rent | $875 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Oconee County is about 29% lower than in South Carolina. Rent is about 22% 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 Oconee County, up about 0.2% and 3.3% a year respectively. Rent is changing faster.
Median rent in Oconee County rose about 30.7% between 2015 and 2023, from $670 to $875. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Oconee County.
Buying the median-priced home in Oconee County costs roughly 15.2 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 Oconee County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $159,110 | $224,357 | $242,182 |
| Median Household Income | $60,181 | $66,957 | $78,145 |
| Price-to-Income Ratio | 2.6 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Oconee County fell about 11.3%, while median household income rose about 46.4% 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 | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.1% | 61.6% | 58.2% |
| Rental Rate | 19.9% | 24.6% | 31.3% |
| Vacancy Rate | 18.9% | 13.8% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Oconee County has a homeownership rate of 61.1%, about the same as the South Carolina average of 61.6%. Its housing vacancy rate is 18.9%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Oconee County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1988 | 1989 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Oconee County was built around 1988. On average, 2.3 people live in a home with about 5.8 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Oconee County, South Carolina.
What is the median home price in Oconee County, South Carolina?
The median home price in Oconee County, South Carolina is $159,110, lower than the South Carolina average of $224,357.
What is the average home price in Oconee 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 Oconee County, South Carolina?
The median gross rent in Oconee County, South Carolina is $875 per month, lower than the South Carolina average of $1,126.
What was the median gross rent in Oconee County in 2020?
In 2020, the median gross rent in Oconee County, South Carolina was $761 per month.
What is the price-to-rent ratio in Oconee County, South Carolina?
The price-to-rent ratio in Oconee County, South Carolina is about 15.2, meaning it would take roughly 15.2 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 Oconee County.
Are home prices or rent rising faster in Oconee County, South Carolina?
Both home prices and rent are rising in Oconee County, up about 0.2% and 3.3% a year respectively. Rent is changing faster.
What is the homeownership rate in Oconee County, South Carolina?
61.1% of households in Oconee County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Oconee County, South Carolina?
The housing vacancy rate in Oconee County, South Carolina is 18.9%, higher than the South Carolina average of 13.8%.