The average rent for a Charleston metro area apartment reached $1,434 last month — a 2.7% increase since 2019.
The rate is $28 less expensive than national average, with Mount Pleasant apartments remaining the most expensive in the area at $1,486 a month — a 0.6% increase over last year, data from a study by RentCafe show.
The nationwide apartment search website compiled original research, insights and in-depth analysis of the real-estate market with the help of its affiliated company, Yardi Matrix. Local rent reports included only cities with a statistically-relevant stock of large-scale multifamily properties of 50 or more units.
The other cities surveyed in the Charleston metro area:
- Ladson: $1,266
- Summerville: $1,213
- Goose Creek: $1,201
- Myrtle Beach: $1,109
- North Charleston: $1,092
- Hanahan: $1,040
While Summerville saw a 3.8% yearly increase, Ladson proved to have the highest rise in rental rates, averaging 7.6% more than last year.
RentCafe reports that renters make up 45% of Charleston households.