What It Means for You

If you’ve been waiting for the “perfect” time to buy, the latest housing trends show that time might be now. Tariffs impact South Carolina rentals by pushing construction costs higher and slowing new housing development, and the effects are already starting to appear in rental markets statewide.

The Cost Squeeze: Tariffs + Local Fees

Recent increases in tariffs on steel, aluminum, and lumber—combined with local fee hikes—are making it more expensive to build new homes and apartments.

  • York County raised impact fees to $21,000 per multifamily unit and nearly $30,000 per single-family home in Fort Mill.

  • Greenville County increased residential and commercial permit fees by 20% starting July 1, 2025.
    These added expenses often get passed along to renters and buyers in the form of higher prices.

New Supply is Slowing

Across South Carolina, building pipelines are shrinking:

  • Charleston: Residential permits dropped from 1,510 in 2023 to 742 in 2024, with 2025 completions forecast to fall ~73%.

  • Luxury units dominate upcoming deliveries, limiting affordable rental options.

  • Multifamily completions statewide follow national trends, with a sharp decline of over 30% year-over-year in 2025.

With fewer homes being built, the supply of available rentals is tightening—setting the stage for future rent increases.

What’s Happening to Rents Now

While rents in some South Carolina metros have stabilized, others are climbing:

  • Greenville: Median rent $1,438, up 4.9% YoY.

  • Columbia: Median rent $1,221, up 1.9% YoY.

  • Charleston: Average rent $1,807, up 0.7% YoY.

  • Myrtle Beach: Record demand in 2025 with average rents $1,372–$1,800 depending on the area.

What This Means for You

If you’re renting now, the cost of waiting could mean paying more down the road. Tight supply and rising construction costs point to a coming shift where rents could rise faster—and buying sooner rather than later could save you money in the long run.

Your Next Step

Get off the fence—now is the time to make your dream of homeownership a reality. Whether you’re ready to buy your first home or upgrade, locking in a mortgage today could protect you from the rental price increases we see coming.

📞 Contact RMF Realty Team today to explore your options and start your journey toward homeownership before the market shifts

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