Should I Rent or Should I Buy in South Carolina in 2025?

Thinking about making a move in South Carolina? Whether you're a first-time homebuyer or just debating your next step, the rent vs. buy decision is a huge one. Good news: in 2025, the South Carolina real estate market is getting a bit more balanced, which means more opportunities for everyone. Let's look at the latest numbers to figure out what’s right for you.

The Big Picture: What's Happening with SC Real Estate Right Now?

The housing market has cooled down from the frantic pace of recent years, which is a welcome change. Home prices are still on the rise but at a more relaxed rate, while the number of homes for sale is finally increasing.

  • Prices are Steady: In July 2025, the median home price in South Carolina was around $388,300, up about 1.8% from last year. This is a much more stable increase than what we've seen recently, giving buyers some predictability.

  • More Homes, Less Competition: The number of homes for sale in South Carolina has grown by over 11% in the past year, giving you more options. On average, homes are also staying on the market longer—around 71 days—which means less pressure to make a rushed decision.

  • Mortgage Rates: While rates remain higher than in previous years, they have become the "new normal." Buyers are adjusting, and a stable rate provides more confidence.

Why You Should Consider Buying a Home in SC in 2025

If you're asking, "is it a good time to buy a house in SC?" the answer is yes, especially if you have a stable job and are ready for a long-term investment.

  • Build Your Wealth: Every mortgage payment you make builds home equity, which is one of the most powerful ways to grow your personal wealth.

  • The Power is Shifting: With more homes on the market, you have more negotiation power. Many homes are seeing price reductions, a clear sign that the market is favoring buyers more than it has in years.

  • Lock in Predictable Payments: Unlike rent, which can increase every year, a fixed-rate mortgage gives you a stable monthly payment for the life of your loan.

Why You Might Want to Rent Instead

On the other hand, renting also has a strong case, especially if you prioritize flexibility. The rental market is more affordable than buying in many areas, and it can be a smart move while you save for a down payment.

  • Lower Upfront Costs: Renting requires a much smaller financial commitment up front. You won't need to worry about a large down payment or closing costs.

  • Ultimate Flexibility: If you're not ready to settle down, renting allows you to move easily without the hassle of selling.

  • No Maintenance Headaches: When the HVAC breaks or the roof leaks, you can just call your landlord. Renting means you don't have to worry about surprise maintenance expenses.

Should I buy or rent a home in Columbia SC

Table of Contents

  • The Big Picture: What's Happening with SC Real Estate Right Now?

  • Why You Should Consider Buying a Home in SC in 2025

  • Why You Might Want to Rent Instead

  • Final Verdict: Make a Smart Financial Move

  • Have Questions? Contact Patrick O'Connor!

Buying or renting in Lexington, SC

Final Verdict: Make a Smart Financial Move

The decision to buy or rent in South Carolina in 2025 is personal, but a buy vs. rent calculator can give you the financial clarity you need.

Ultimately, if you're ready for a long-term commitment and have a solid financial plan, the current market presents a great opportunity to find your home and begin building equity. If you're not ready for those responsibilities, renting is a more flexible and cost-effective option right now.

Have questions about renting or buying a home in South Carolina? Don't navigate the market alone. For expert advice and a personalized consultation, contact Patrick O'Connor, Team Lead for The Patrick O'Connor Team. As Coldwell Banker Realty's #1 team in South Carolina, they specialize in helping clients just like you make the best decision for your future.

Patrick O'Connor