Here’s How Much Rent Costs in South Carolina, North Carolina
The average amount rent costs in South Carolina and North Carolina may surprise you, or it may not. The cost of both renting and owning a home has gone up substantially in the past decade. So, how much does rent cost in South Carolina and North Carolina? Here’s what the experts say.
How Much Rent Costs in South Carolina, North Carolina
A recent study from the experts at the Joint Center for Housing Studies of Harvard University looked into how much rent costs across America. They discovered that in 2022, half of all people in the U.S. who were renting were cost burdened, meaning that more than 30% of their income went to housing. What’s even crazier is that more than 12 million Americans were putting at least half of their paycheck, if not more, towards rent. All of this means that there are more homeless people in America. In fact, in 2023, homelessness rose to a new high in America. To be specific, an annual head count, conducted in January of 2023, discovered that the homeless population had increased by more than 70,000 people, or a whopping 12 percent.
According to the study from Harvard University, rent costs vary a lot depending on your state. The state with the highest median rent is the paradise of Hawaii, where renters pay around $1,868 per month. In turn, the state with the lowest median rent cost is West Virginia, where renters pay around $831 per month. That’s obviously a big difference. A different study, this one according to the Zumper National Rent Index, looked at prices for one-bedroom units in America. It found that the most expensive city to rent in is New York City at $4,200 per month in 2024. That’s very high, but that’s expected in New York City. No. 2 on the tally was Jersey City, New Jersey, at $3,330 per month. San Francisco was next at $2,950, followed by Boston at $2,830 and Miami at $2,770.
So, what’s the average rent in South Carolina and North Carolina? According to the Harvard study, it’s $1,065 in South Carolina and $1,093 in North Carolina. Some good news is that a study from TheTravel.com says that one of the cheapest cities for rent in America is Rocky Mount, North Carolina, at $847 per month. “Nestled along I-95 and straddling Edgecombe and Nash counties, Rocky Mount predominantly resides within Nash County, North Carolina,” they state. “Residents can enjoy a plethora of entertaining activities in this city, which is a prominent destination in Eastern North Carolina.” I think that’s a great deal. So, if you’re looking for a reasonable spot in North Carolina, there you go.
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