Looking for a new market to make some real estate investments?
Let’s talk about Charleston.
Southern cities like ours are a magnet for investors who are looking for areas with lower price tags, great potential for rental increases, and strong local economies. If you’re thinking about investing in Charleston, you’re not alone.
This is absolutely the right place to invest in property. Let’s take a look at why our market is so attractive to investors from all over the world.
Growing Charleston Population
You never want to invest in a market that’s losing its tenants.
In Charleston, the population is growing. Over the last two years, it has grown at nearly two percent each year. That’s a pretty steady pace, and it means we offer a lot of opportunities to people who are seeking a high quality of life that isn’t cost-prohibitive. Inflation has hit consumers and residents here just like it has across the country. But, people are choosing to move to Charleston because it’s more affordable than other east coast cities. It also offers a mild climate, a lot of history, great job and education opportunities, and easy proximity to the beach.
Charleston has everything people love about a city (opportunity, art, culture, restaurants, shopping, and recreation), without everything people hate about a city (traffic, overcrowding, and crime).
Charleston’s Local Economy is Growing
Plenty of employers have come to Charleston, making it an easy place to do business and get a job. Some of our largest employers include:
- Trident Health System
Joint Base Charleston is here and there are schools like College of Charleston and Medical University of South Carolina that draw both professionals and students. Industries such as healthcare, technology, and education are growing in the Charleston market.
Charleston Investment Homes are Affordable
Another great reason to invest in Charleston is the affordability of homes. The prices have risen considerably over the last year, but compared to other markets, an investor can get a lot more for their money here.
Cash flow and appreciation are both possible in Charleston. You can still find excellent investment properties for less than $400,000. There’s a diversity to the property types and the neighborhoods. Decide what you want to buy, and you won’t have a hard time finding it at a reasonable price.
Rising Charleston Rental Prices
Rents are going up, and we don’t expect that trend to slow down any time soon. This is good news for investors who are looking to earn as much as possible in monthly rental income. As a landlord-friendly state, there’s no need to worry about rent control. In fact, rent control is banned in South Carolina, thanks to SC Code § 27-39-60. Landlords can raise the rent as much as they’d like, provided proper notice is given.
There are so many excellent reasons to invest in Charleston – we’d love to tell you more about how you can be successful here. Please contact us at Charleston Home Rentals to talk more about your investment goals and how we can help you reach them.