Rankings
Website: Charleston Among the Least Friendly U.S. Metros for Solo Renting
Rent Cafe recently released a report about renters living alone and found that Charleston ranks 20th in the nation for the largest extra income renters need in order to afford living alone — more than in any other metro in the Carolinas.
In their newest study, the website ranked the trending metro areas for solo renters and the places where, financially speaking, it’s easier (or more challenging) to ditch your roommate.
Here’s a close look at the rise and cost of solo renting in Charleston:
- To live alone as a renter in Charleston, you’d need to earn an extra $963 per month compared to a regular renter. That said, solo renters in Charleston have an average annual income of $46,600, while the average renter makes $35,046 per year.
- That’s the biggest income gap in the Carolinas and the 20th in the U.S. By contrast, the lone renters need significantly lower additional incomes in Greenville, SC ($551 per month), Columbia ($574 per month), Raleigh ($695 per month) or Charlotte ($825 per month).
- The number of solo renters in Charleston rose by 9% from 35,662 to 38,726 in five years, now comprising 16% of the metro’s total renter population. This means that an increasing number of apartment dwellers in the metro are willing to make a financial sacrifice just to have a place of their own.
To see the full report, click here.
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