387,209 (or 7.52%) of the 5,148,714 population of South Carolina live in 5+ unit apartment properties. South Carolina has approximately 239,766 multifamily units. Last year, 5,718 new apartment units were constructed in South Carolina, representing a 2.44% growth in units. Multifamily units make up 16.68% of the total housing stock in South Carolina.
Interest rates for multifamily loans in South Carolina are very competitive. South Carolina apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in South Carolina.
SoftQuotes' lender rates for 5+ unit multifamily loans in South Carolina are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.37% - 7.07% |
| 7 Year Fixed | 6.68% - 7.11% |
| 10 Year Fixed | 6.69% - 7.07% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.85% - 6.40% |
| 7 Year Fixed | 5.86% - 6.41% |
| 10 Year Fixed | 5.72% - 6.27% |
The state of South Carolina prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $501 | $1,108 | $697 |
| 1 bedroom | $515 | $1,155 | $732 |
| 2 bedroom | $679 | $1,317 | $879 |
| 3 bedroom | $852 | $1,685 | $1,158 |
| 4 bedroom | $921 | $2,237 | $1,369 |