October 2024 Rental Market Trends in Beaufort County, SC

As we step into the fall season, it’s a good time to reflect on how the rental market in Beaufort County is performing. Understanding these trends is essential for property owners, investors, and renters alike to make informed decisions. Let’s dive into the latest insights and how Beaufort Rentals compares to the broader market.

Market Overview: Average Days on Market

According to recent data from realtor.com, the average days on market (DOM) for properties in Beaufort County is currently 77 days. This number represents the typical time it takes for a property to go from listing to being rented out. For Beaufort Rentals, we’ve seen our days on market increase from 19.90 days in October 2023 to 33 in 2024, though we’re still consistently outperforming the county average. This means our properties are moving faster than the market standard, reflecting our efficient marketing strategies and the demand for well-managed homes.

Rental Prices in Beaufort County

Rental prices in Beaufort County have shown a mixed pattern over the past year, based on data from Zumper.com:

• Median 1-bedroom rent: $1,661, up 2% year-over-year (YoY)
• Median 2-bedroom rent: $1,910, down 2% YoY
• Median 3-bedroom rent: $2,325, up 6% YoY
• Median 4-bedroom rent: $2,600, down 8% YoY

These shifts highlight the varying demand for different property types in the area. The rise in rents for 1-bedroom and 3-bedroom units suggests a strong interest in smaller and mid-sized homes, while the decrease in 2-bedroom and 4-bedroom rents may indicate a surplus in supply or a slight cooling in demand for those sizes.

Beaufort Rentals’ Performance

While market fluctuations are a natural part of the rental landscape, Beaufort Rentals continues to perform well. We’ve seen a year-over-year increase in our average rental prices by 4.88%. This growth demonstrates the value of our portfolio and our commitment to providing competitive rates for both owners and tenants.

What Does This Mean for Property Owners and Renters?

For property owners, staying ahead of market trends is key to maximizing returns on your investments. Understanding the demand and pricing shifts can help you adjust your strategy to attract reliable tenants. At Beaufort Rentals, our proactive approach to market analysis ensures that we keep your properties well-positioned for success.

For renters, these trends provide insight into what to expect when searching for a rental in Beaufort County. With median rents showing both increases and decreases across property types, there are opportunities to find a home that fits your budget.

About the Author

Malory Medaglia serves as the Property Management Advisor at Beaufort Rentals. With a deep understanding of the local rental market, Malory’s expertise has been instrumental in guiding homeowners through the intricacies of property management. Her passion for real estate and commitment to excellence ensures that clients receive top-tier advice and service. If you’re considering diving into the world of property rentals or simply have questions about our services, Malory is your go-to professional.

Email: malory@beaufort.rent
Phone: (843) 595-8899

Please CLICK HERE for a free Rental Analysis. Reach out to Malory today and benefit from her wealth of knowledge in the Beaufort rental market.

Stay tuned for more insights as we continue to monitor and analyze the trends shaping the Beaufort County rental scene!