Updated: May 1, 2021
NATIONAL AVERAGE RENT COST
The national average for apartment rent was $1,412 in August 2018 which is an all time high and is rising at a fast pace as construction slows and the need for housing increases. Research also indicated that rental costs will continue to increase in the near term. (Data from YARDI Matrix).
HOW DOES SOUTH CAROLINA STACK UP?
The average rental cost in South Carolina for a two bedroom is $950, that is $280 below the national average. A one bedroom is $830, that is $170 below the country's average. (Data from SmartAsset). So, what does that mean for consumers? Although the living wage in SC is a bit below the national average so too are our rent costs. When compared to the national average we are way below the market. Compared to large cities like San Francisco at $3,754 and New York at $3,662 for a two bedroom living in South Carolina's rental market is golden!
RECONCILING COST OF RENT
When considering rent, first take into consideration that some rents are higher as they include more amenities and expenses like utilities. Also, location, age of the unit, quality of the landscaping and interior material and finishes can also play a huge role in the cost of your rent. Make certain you are comparing apples to apples. Make a list of the items you need and want in a property and compare the costs accordingly. Keep in mind that apartment living gives you flexibility in relocating and helps you avoid maintenance costs of a home. Beyond the flexibility of apartment living, renting may also help you live in a place or space you could not otherwise afford to buy. Homeownership may not be a priority for your lifestyle and finances thus renting might be a better option.
RENT AT NORTH GATE APARTMENTS
North Gate Apartments takes a financially moderate and conservative approach to our business . We offer excellent customer service and facilities while at the same time controlling costs wherever possible and pass that saving onto our residents. We strive to offer the best for the least cost. At a base rental price of $850 compared to the national and state average our apartment homes are true a deal!