The rate to lease Lowcountry property rose from a month ago and a year before but remains lower than the country as a whole.
San Francisco-based Apartment List released its most recent monthly rent findings in early December. The report tracks rent growth, median prices and market trends, the company says.
Among the highlights:
- Charleston area rents increased 0.9 percent in the past month.
- Leasing prices are up 2.5 percent year over year.
- Even with the price increases, the median rent for a two-bedroom apartment in greater Charleston comes off as inexpensive at $1,130 a month compared with the nation's rate of $1,180.
- Rental rate rises are a pattern in South Carolina — all of the 10 largest cities in the state are showing price hikes.
Lease figures in Charleston, the state and U.S. have followed a similar pattern for the past two months but contrast from 90 days ago, according to Apartment List.
The analytical firm released a report last month tracking rent growth, median prices and market trends. According to the company, Charleston rents increased 1.5 percent from the previous month and 2.3 percent for the year.
At that time, the median two-bedroom apartment rent in the Lowcountry rent was $1,120, slightly below the $1,180 national average.
The lease jumps have taken place in the city of Charleston and across the state, according to Apartment List. The 10 largest cities in South Carolina all show upward price bumps, according to Chris Salviati, the online firm's housing economist.
Earlier, the rental observer saw rents drop 0.7 percent from a month earlier and jump 0.5 percent from a year ago. The midpoint rent on a two-story property was $1,110, somewhat below the $1,180 U.S. average. Similarly, all 10 cities in South Carolina saw year-over-year rental price increases.
Apartment List counts 66 million-plus users in more than 40 cities since its launch in 2011. Go to www.apartmentlist.com.