Columbia Investment Property for Sale - 2024 Rental Home Appreciation

The capital of South Carolina, Columbia, is a fast-growing city with a small-town feel. Columbia, along with nearby Greenville and Charleston, ranks in the top places to live in South Carolina and in the nation, and for good reason.

Affectionately known as “Cola Town” by the locals, Columbia offers a great mix of rural landscapes and parks as well as bustling city skylines. There’s something for everyone in Columbia, from outdoor activities to historical museums and an incredible art scene.

The population is growing in Columbia, and the upward trend is predicted to continue for years to come. The friendly atmosphere, plentiful job opportunities, and warm year-round weather are just a few reasons why new residents are flocking to the region each year.

The Columbia area is experiencing record home price appreciation rates. The hot real estate market and the strong local economy make Columbia a top pick for first-time home buyers, as well as real estate investors looking for investment opportunities.

Columbia's Attractive Housing Market

The real estate market is flourishing in Columbia thanks to the area’s top-rated public schools, manageable housing prices, and a below-average cost of living. In fact, Columbia is ranked as one of the most affordable cities to live and work. For these reasons, young professionals are choosing to start their careers and raise families in the Columbia area. A few of Columbia’s most attractive neighborhoods include:

• Lexington: An attractive suburb for young families due to the exceptional public school district. Lexington is one of the fastest-growing areas in the region.
• Blythewood: An area with a rural feel where most residents own their homes, Blythewood is one of the best places to live in South Carolina.
• Chapin: A small prosperous lake town known as the “Capital of Lake Murray.” Chapin is famous for its southern charm and warm hospitality.
• Shandon: One of the largest in-town neighborhoods in Columbia, Shandon is located near area business and shopping districts.
• Orangeburg: Known for its natural beauty, Orangeburg is nicknamed “the Garden City.”

Other notable areas worth checking out in Columbia include:

• West Columbia - Located on the Congaree River, and home to tree-lined streets, charming shops, long-time residents, and young families
• Irmo - Known as “One of the Safest Cities” in the state
• Sumter - A center of commerce and home to Shaw Air Force Base
• Midlands - A region comprised of eight counties in the middle of South Carolina
• Newberry - Named one of the 50 “Most Charming Small Towns in America by the Travel Channel

Rental Home Appreciation in Columbia

Columbia, SC offers great investment opportunities for real estate investors, regardless of the property type or its square feet. Whether it’s a single-family home or a townhome, statistics show the market in the Columbia area is ripe for real estate investing.

Although still quite affordable compared to the national average, home values have increased more than 20% year over year. The median rents on rental property in Columbia, including multi-family homes and single-family rentals, continue to rise, which is good news for investors. With more than 50% of residents renting their homes, Columbia is ranked in the top 50 cities for renters.

Economic Growth in Columbia

Home to top-rated University of South Carolina and other colleges, Columbia is a hot spot for talented millennials and entrepreneurs. The city’s workforce is educated and diverse, with young professionals choosing Columbia over big cities like New York and Los Angeles.

South Carolina is ranked first in the nation for tax incentive programs, making the area attractive to businesses and corporations. Top employers in Columbia include BlueCross BlueShield of South Carolina, University of South Carolina, United States Department of the Army, and Richland School District.