Beaufort County Rental Market Trends - September 2023

By Middleton Street Property Management - Monday, September 18, 2023
Welcome back to the Middleton Street Property Management monthly blog, where we keep you informed about the latest rental market trends in beautiful Beaufort County, South Carolina. As your trusted property management advisors, we are committed to providing you with valuable insights to help you navigate the ever-changing rental landscape. In this edition, we'll delve into the current market conditions and Middleton Street Property Management' performance statistics. Market Overview Let's begin with an overview of the Beaufort County rental market as of September 2023. According to realtor.com, the average number of days a property spends on the market in Beaufort County is 54 days. This data gives us a snapshot of the typical duration it takes for properties to get rented in the area. Middleton Street Property Management' Portfolio Performance At Middleton Street Property Management, we take pride in our portfolio's performance. In comparison to the county's average, we have maintained a competitive edge in terms of days on market. In September 2022, our properties had an average of just 8.6 days on the market, showcasing our ability to quickly connect quality tenants with available rental homes. While there has been a rise to 35 days on the market in 2023, it's important to note that we are still outperforming the countywide average, demonstrating our dedication to efficient property management. Rental Rates in Beaufort County Now, let's take a closer look at the rental rates in Beaufort County:
  1. Median 1-bedroom rent: $1,700 (up 3% year over year)
  2. Median 2-bedroom rent: $1,917 (down 6% year over year)
  3. Median 3-bedroom rent: $2,300 (up 1% year over year)
  4. Median 4-bedroom rent: $2,500 (down 4% year over year)
This data, sourced from zumper.com, reflects the fluctuations in rental rates across different property sizes. It's worth noting that while there have been decreases in some categories, the median 1-bedroom and 3-bedroom rents have seen modest increases over the past year. Middleton Street Property Management' Average Rent At Middleton Street Property Management, we've experienced a 6.57% increase in average rent in September compared to the previous year. This growth is a testament to our ability to adapt to market conditions and maximize the returns for our property owners. We continue to focus on providing competitive rental rates while ensuring our properties are well-maintained and attractive to prospective tenants. As we wrap up this month's rental market update, we would like to introduce you to the author of this blog, Malory Medaglia. She serves as the Property Management Advisor at Middleton Street Property Management and possesses 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. πŸ“§ Email: malory@beaufort.rent πŸ“ž Phone: (843) 441-7320 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 our next monthly blog as we continue to keep you informed about the Beaufort County rental market. Your success as a property owner and investor is our top priority at Middleton Street Property Management.

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