1031 Exchange Charleston, South Carolina

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Charleston due to their correlations with market demand, and conversely, vacancy rate.

Surrounding metropolitan Area

Charleston, South Carolina is a part of the Charleston-North Charleston, SC metropolitan area, and contains 16 zip codes, including: 29406, 29417, 29492, 29414, 29401, and 29413.

Charleston Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Charleston, SC metropolitan area was $1,098, which is 25.20% higher than 2014 average rent. This represents a compounded annual growth rate of 4.60%. 2019 vacancy in Charleston, SC was 9.30%.

The total population of the city of Charleston, SC has grown 13.43% since 2010. As of 2018, the population was 136,208. The median household income of the Charleston was $64,599, which is 7.14% higher than the national average.

  • metropolitan area Charleston-North Charleston, SC
  • avg rent $1,098
  • rent growth 25.20%
  • vacancy 9.30%
  • median income $64,599
  • population (2018) 136,208
  • population growth 13.43%
  • vs. nat'l avg 7.14%
  • zip codes 29401 29402 29403 29406 29407 29409 29412 29413 29414 29416 29417 29422 29423 29424 29425 29492

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