Charleston rental market tightens as concessions fall sharply
By
Rental Beast
The quarter at a glance:
Rents were largely flat this quarter, with only modest upticks in the smaller unit types
Concessions eased dramatically to 42.0% of listings from 64.0% in Q1
Days on market fell to 23 (from 28), down 17.9% quarter-over-quarter
The rent-vs-buy gap widened to $651/month from $534, making ownership meaningfully more expensive relative to renting
Median Rent by Unit Type
Rents held broadly steady after modest gains earlier in the year, with nearly every segment essentially unchanged quarter-over-quarter.
Charleston, SC · Q2 2026
Median rent by property type
Bars show YoY % change
1BD
+1.5%
$1,690
2BD
+1.9%
$1,918
3BD
+1.2%
$2,276
SF
+0.0%
$2,300
MF
+0.9%
$1,845
Quarter over quarter: 1BD +0.9%, 2BD +0.6%, 3BD 0.0%, SF 0.0%, MF 0.0%Rental Beast
Concessions & Days on Market
Concessions collapsed to 42.0% from 64.0% in Q1, and days on market improved across the board.
Charleston, SC · Q2 2026
Concessions and days on market
42.0%
of listings offer a concession down from 64.0% last quarter (up 50.6% YoY) National median: 39.9%
Median days on market
All
23
SF
21
MF
22
All -17.9% (SF -25.0%, MF -21.4%) quarter over quarter
National median: All 22 / SF 20 / MF 24
Rental Beast
Property Managers Market Sentiment
Rent expectations were little changed, but applicant sentiment swung sharply positive, lining up with Charleston's dramatic concession pullback this quarter.
Charleston, SC · Q2 2026
Market sentiment
Do you expect rent prices to increase, decrease, or remain the same over the next 6 months?
5%
11%
Remain the same, 85%
IncreaseDecreaseRemain the same
vs. Q1 2026: 5% increase, 8% decrease, 86% remain the same
Are you currently getting more, fewer, or about the same applicants for your available rentals?
19%
16%
About the same, 65%
FewerMoreAbout the same
vs. Q1 2026: 40% fewer, 1% more, 59% about the same
Rent vs. buy: the gap widens further
Owning now costs $651 more per month than renting, up modestly from $534 in Q1.
Charleston, SC · Q2 2026
Rent vs. buy
Rent
$2,276
Buy
$2,927
$651/mo
more expensive to buy than rent. The gap widened from $534 last quarter (up $117 quarter over quarter).
Rent vs. buy gap by quarter
2Q253Q254Q251Q262Q26
Median list price $500,000 (May 2026). 20% down, 6.5% rate, taxes and insuranceRental Beast
Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Rental Beast listing data covers a range of rental property types and owner types operating within the long-term rental market (generally considered to be leases with a minimum of three months). Single-family rentals (SFR) are considered to be properties with 4 or fewer units. Multifamily (MF) is more than 4 doors. Unless otherwise noted, our analysis uses the Charleston-North Charleston, SC, metropolitan statistical area (MSA) as the geographical unit.
Unique listings counts are based on rentals that were on-market at any point during the stated period. Rents are calculated based on these listings. Days on market (DOM) and concession analysis are based on these listings, with some data sources excluded due to DOM and concession info being unavailable or deemed to be unreliable. Concessions are incentives that entice renters to sign a lease (e.g., one month free, a gift card, etc.).
Our sentiment survey is based on phone conversations during Q2 2026 with rental building and community managers and property managers. Questions and answer choices:
Q1. Do you expect rent prices to increase, remain the same or decrease over the next 6 months? [Possible answers: Remain the same, increase, decrease]
Q2. Do you believe you are currently getting more, about the same or fewer applicants for your available rentals? [Possible answers: About the same, more, fewer]
DISCLAIMER. This report attempts to provide reliable and useful information; however, there is no guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Rental data used in this report are sourced and catalogued directly by Rental Beast, unless otherwise noted. Our analysis uses MSA as the geographical unit and is not reflective of all-U.S. measures. Information from this document may be used with proper attribution.
