Moving to Midlands, South Carolina can be a significant move for some people. With a population of almost three-quarters of a million people and lots of historic charm and nostalgia, Midlands can be a place quite different than many other large metropolitan cities. Being located on the coast has many advantages for Midlands because its beaches are some of the best in the country and offer a lot of tourist opportunities and a tourism economy. This is also a disadvantage to long-term renters because the demand for rental homes in Midlands can increase the property values which increases rent.
Analyzing the cost of living in Midlands shows that it cost significantly more on average to live in this historic city than most other places in the United States. One-bedroom apartments cost over $1,000 per month on average and rental homes are averaging more than $1,900 per month. Millennials that are living with roommates and families that need multiple bedrooms are often seeking out rental homes in Midlands rather than apartments.
People choose to live in homes in Midlands because of the aesthetic appeal also. Midlands is full of cobblestone streets, colonial architecture, and remnants of the plantation area and thriving agricultural businesses. Homes in Midlands are expected to live up to the beauty that surrounds them which also creates a demand for higher rent rates. Many rental homes are professionally landscaped and maintained by the property owner or property management company to ensure that the home retains its value during and after the tenants.
Midlands has a very low unemployment rate at less than 5% which is a remarkable thing for property owners of rental homes in Midlands. When people keep their jobs, they are more likely to remain living in their home. If you are interested in renting your property to a business class professional, you will have low turnover and amazing retention for your home. Scott Properties can help you navigate the path to turning the properties you own into rental homes in Midlands.