Socastee, South Carolina Housing Market Prices
Socastee 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 347% above the South Carolina median$1,071,168
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Median rent 4% above the South Carolina median$1,223
Housing Market Overview
| Metric | Socastee | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,071,168 | $239,609 | $248,835 |
| Price Trend (Annual %) | 48.9% | 8.9% | 7.5% |
| Median Gross Rent | $1,223 | $1,179 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Socastee is about 347% higher than in South Carolina. Rent is about 4% 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 Socastee, up about 48.9% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Socastee rose about 39.7% between 2015 and 2024, from $876 to $1,223. Over the same span, rent in South Carolina rose about 49.3%.
Affordability
On average, housing unit costs 17.9 yearly household incomes in Socastee.
Buying the median-priced home in Socastee costs roughly 73.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Socastee. The price-to-rent ratio in South Carolina is about 16.9.
| Metric | Socastee | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,071,168 | $239,609 | $248,835 |
| Median Household Income | $59,962 | $69,383 | $80,455 |
| Price-to-Income Ratio | 17.9 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Socastee rose about 586.9%, while median household income rose about 32.2% 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 | Socastee | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.8% | 62.3% | 58.5% |
| Rental Rate | 32.4% | 24.4% | 31.2% |
| Vacancy Rate | 9.8% | 13.3% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Socastee has a homeownership rate of 57.8%, lower than the South Carolina average of 62.3%. Its housing vacancy rate is 9.8%, compared with 13.3% in South Carolina.
Housing Stock
| Metric | Socastee | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.60 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1995 | 1990 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Socastee was built around 1995. On average, 2.6 people live in a home with about 5.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Socastee, South Carolina.
What is the median home price in Socastee, South Carolina?
The median home price in Socastee, South Carolina is $1,071,168, higher than the South Carolina average of $239,609.
What is the average home price in Socastee, South Carolina?
The typical home price in Socastee, South Carolina, reported as the median sale price, is $1,071,168. 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 Socastee, South Carolina?
The median gross rent in Socastee, South Carolina is $1,223 per month, higher than the South Carolina average of $1,179.
What was the median gross rent in Socastee in 2020?
In 2020, the median gross rent in Socastee, South Carolina was $981 per month.
What is the price-to-rent ratio in Socastee, South Carolina?
The price-to-rent ratio in Socastee, South Carolina is about 73.0, meaning it would take roughly 73.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Socastee.
Are home prices or rent rising faster in Socastee, South Carolina?
Both home prices and rent are rising in Socastee, up about 48.9% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Socastee, South Carolina?
57.8% of households in Socastee, South Carolina own their home, lower than the South Carolina average of 62.3%.
What is the vacancy rate in Socastee, South Carolina?
The housing vacancy rate in Socastee, South Carolina is 9.8%, lower than the South Carolina average of 13.3%.
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