Rent to own Homes in North Charleston, SC
As the number of people flocking to North Charleston continues to rise, the demand for houses increases simultaneously. As a result, the number of home sale transactions have increased since the last year and the median home sale price rests at around $130,000. Both property prices and cost of living in the city are lower compared to the national average, and this is one of the major factors behind the growing population of North Charleston. At the same time, there has been a definitive change in home ownership patterns as well. Until a decade ago, a majority of the houses were owned and only 20-30% were rented. Now, the percentage of owned and rental homes is almost the same while the vacancy rate is close to 10%. Like several other economic sectors of the city, the real estate market is also growing, and newer plans like rent to own houses are gaining acceptance among people.
North Charleston, SC is a great place for affordable rent-to-own homes! With a median household income of over $47,201 and a median rent of $1,084, the North Charleston, SC rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in North Charleston, SC. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More North Charleston, SC Property Resources
Rent to own Homes in Cities Near North Charleston, SC
- Adams Run
- Awendaw
- Bonneau
- Charleston
- Charleston Afb
- Cordesville
- Cross
- Folly Beach
- Goose Creek
- Hanahan
- Hollywood
- Huger
- Isle of Palms
- James Island
- Johns Island
- Kiawah Island
- Ladson
- Lincolnville
- Meggett
- Moncks Corner
- Mount Pleasant
- North Charleston
- Pimlico
- Pinopolis
- Ravenel
- Ridgeville
- Sangaree
- Seabrook Island
- Sullivan's Island
- Summerville
- Wadmalaw Island
Neighborhoods in North Charleston, SC
The Park At Rivers Edge rent to own homes Coosaw Creek Country Club rent to own homes Forest Hills rent to own homes Wescott Plantation rent to own homes Park Circle rent to own homes Olde North Charleston rent to own homes Charleston Navy Yard Historic District rent to own homes Charleston Naval Hospital Historic District rent to own homes Ashley River Historic District rent to own homes Charleston Navy Yard Officers' Quarters Historic District rent to own homesBuying a Home in North Charleston, SC
North Charleston, SC is seeing rapid growth and North Charleston, SC's' housing market remains optimal with an average home price that is -15% below the 2024 national average. North Charleston, SC is part of Charleston county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Charleston is 0.5% which is below the national average, which is 0.99%.
Median Home Price in North Charleston, SC
Median Rent in North Charleston, SC
Employers and Industries Until the end of the last century, North Charleston was primarily a naval base and its economy revolved around the Charleston Naval Shipyard. Things have come a long way since then and the city is now a major aircraft center, thanks to the establishment of the Boeing aircraft delivery and prep center in 2009. This single event created jobs in thousands, paving the way for other industries to invest in the city. With the construction of the Palmetto Commerce Parkway, the local economy received a huge boost, and once again, the biggest beneficiaries were employment seekers. Besides these industries, the hospitality sector and finance services are among the biggest employment providers in the city.
School Systems Schools in North Charleston are part of the Charleston County School District and Dorchester School District II. If you are moving to the city with your family, you will have a wide variety of schools to choose from - public, private and charter schools. The better public schools fall under the 'magnet' school category, meaning they have specialized courses along with a highly selective application procedure.
Weather and Climate The local weather can be defined as somewhere between temperate to subtropical and the average daily temperature hovers around 65F. There are close to 200 sunny days throughout the year with little or no snowfall and a decent amount of rain. Neither summers, nor winters are extreme - the average July temperature is somewhere between 85-90F, while the mercury rarely dips lower than 35F in January.
Local Shopping North Charleston came out on top in South Carolina in terms of total retail sales in 2012. The people of the city love to shop. In fact, the first Sam's Club was opened right here in North Charleston. For a standard shopping mall experience, head to Northwoods Mall, which is home to many local departmental stores and some known brands. The Centre Pointe is another great shopping destination, and it has your favorite brand outlets along with famous eateries and the American LaFrance Fire Museum. Finally, there is the Historic District or the Old Village, where large brand outlets are replaced by small boutiques and kiosks owned by local merchants.