November 2024 Rental Market Trends in Beaufort County, SC
By Middleton Street Property Management - Sunday, November 24, 2024
As the rental market in Beaufort County continues to evolve, November 2024 brings both opportunities and challenges for property owners and renters alike. By analyzing the latest data and market trends, we can uncover insights that shape the local real estate landscape and spotlight Middleton Street Property Management' continued success in outperforming the market.
Days on Market: A Tale of Efficiency
According to Realtor.com, the average days on market for rentals in Beaufort County is currently 74 days. This marks a significant timeline for properties seeking tenants. However, Middleton Street Property Management has consistently outpaced the market. Despite seeing an increase in days on market from 44 days in November 2023 to 20 days in November 2024, our portfolio still performs nearly twice as efficiently as the county average.
Rental Prices: Shifting Trends by Bedroom Count
Rental prices in Beaufort County are showing a mixed picture across property sizes, based on data from Zumper.com:
1-Bedroom: $1,668/month (+1% YoY)
2-Bedroom: $1,879/month (-4% YoY)
3-Bedroom: $2,337/month (+6% YoY)
4-Bedroom: $2,575/month (-11% YoY)
These fluctuations reveal shifts in demand, particularly an increased interest in 3-bedroom homes, which are driving higher rents, while larger properties experience a decline.
Middleton Street Property Management: A Rising Star in Local Rent Growth
Middleton Street Property Management has seen consistent growth in rental income, with average rents increasing 9.35% year-over-year for November. This reflects our commitment to effectively pricing and marketing our clients’ properties to attract reliable tenants.
Staying Ahead in the Lowcountry Market
At Middleton Street Property Management, we pride ourselves on our ability to adapt to market trends and deliver results for property owners. Whether you're looking to list your property for the first time or optimize your current rental portfolio, we’re here to help you navigate the market with confidence and precision.
About the Author
Malory Medaglia serves as the Property Management Advisor at Middleton Street Property Management. 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
CLICK HERE for a free Rental Analysis.
Stay informed about the market trends by visiting our blog next month!
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