Best places to buy rental properties in South Carolina

January 28, 2022
● Written by
Teddy

South Carolina

Investing in South Carolina

South Carolina is a great place to buy rental properties because of its many natural attractions and its affordable cost of living. The Nophin team crunched the numbers and found the five best places to invest in short term and long term rental properties.

Statewide vacancy rates

SC Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Charleston, SC

Charleston is the oldest city in South Carolina and considered one of he safest cities in the US.

  • Population: 150,227
  • Median household income: $72,071
  • Median 1-bedroom monthly rent: $1,890
  • Median listing home price: $499,000

Greenville, SC

Nestled halfway between Charlotte, NC and Atlanta, GA, Greenville is one of the fastest growing cities in the US.

  • Population: 70,720
  • Median household income: $58,259
  • Median 1-bedroom monthly rent: $1,295
  • Median listing home price: $354,900

Myrtle Beach, SC

Myrtle Beach If you're a fan of beaches, Myrtle is one place to consider especially if you are looking at short term rentals. Over 15 million visitors come by each year to enjoy Myrtle Beach's 200+ days of sunshine.

  • Population: 35,682
  • Median household income: $43,378
  • Median 1-bedroom monthly rent: $1,443
  • Median listing home price: $300,000

Columbia, SC

Columbia is the capital of South Carolina and home to universities like the University of South Carolina and Columbia College.

  • Population: 136,632
  • Median household income: $47,416
  • Median 1-bedroom monthly rent: $995
  • Median listing home price: $245,000

Mount Pleasant, SC

Mount Pleasant is east of Charleston and is one of South Carolina's wealthiest neighborhoods.

  • Population: 90,801
  • Median household income: $104,772
  • Median 1-bedroom monthly rent: $1,840
  • Median listing home price: $740,000

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Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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