June 2024 Beaufort County Rental Market Trends
As we dive into the heart of summer, it’s an opportune moment to assess the current rental market trends in Beaufort County and reflect on how Beaufort Rentals is performing within this dynamic landscape.
Beaufort County Market Overview
According to realtor.com, the average days on market for rental properties in Beaufort County is currently 60 days. This figure provides a crucial benchmark for understanding the region’s rental activity and tenant demand.
When we examine rental prices across different property types, data from zumper.com reveals some interesting shifts over the past year:
1-bedroom rentals: Median rent is $1,609, representing a 9% decrease year-over-year.
2-bedroom rentals: Median rent is $1,948, showing a 7% increase year-over-year.
3-bedroom rentals: Median rent remains steady at $2,305.
4-bedroom rentals: Median rent is $2,750, also up by 7% year-over-year.
These trends highlight a mixed market with variations depending on property size. While one-bedroom units have seen a dip in rent, larger properties, particularly two and four-bedroom units, are experiencing a rise in rental rates, suggesting a robust demand for family-sized homes.
Beaufort Rentals Performance
At Beaufort Rentals, we strive to not only meet but exceed market expectations. Over the past year, our portfolio has demonstrated remarkable resilience and growth.
Our properties’ average days on market have increased slightly from 24.8 days in June 2023 to 32 days in June 2024. Despite this uptick, our average remains significantly lower than the county average of 60 days, underscoring our effectiveness in attracting and retaining tenants.
In terms of rental prices, Beaufort Rentals has seen a year-over-year increase in average rent, + 4.53% YOY. This growth not only reflects our ability to adapt to market conditions but also our commitment to providing high-quality rental properties that tenants are willing to invest in.
Conclusion
The rental market in Beaufort County presents a diverse picture, with varying trends across different property sizes. However, the overarching theme is one of stability and gradual growth, particularly in the demand for larger rental homes. Beaufort Rentals continues to perform strongly, with lower-than-average days on market and increasing rental rates, indicating a healthy and appealing portfolio.
If you’re a property owner in Beaufort County or considering entering the rental market, understanding these trends and aligning with a proactive property management team can make all the difference. At Beaufort Rentals, we’re here to guide you every step of the way.
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.