As a life long resident of South Carolina (except for three years in Alabama for law school) I have always known that South Carolina was the place to be. If you talk to any South Carolinian who has grown up in this state you will quickly find someone who thinks South Carolina is to be revered. Besides having the coolest state flag and state dog (the Boykin Spaniel), South Carolina has a lot to offer. We have beaches, mountains and historic towns. Our culinary offerings are the best in the country. Nobody else does barbecue and Beaufort Stew quite like us. And let’s not forget all of those national championships in football, basketball and baseball. Plus we have Hootie!
Fortunately for the real estate community it looks like more and more people across the country have figured out what we all know. Every week we are doing closings for someone from Ohio, New York or Michigan. Many of these new residents have no ties to South Carolina and choose to live here over all the other states.
Here are some amazing numbers concerning the growth of South Carolina.
- South Carolina ranks #7 for net gain of people “moving in.” This is the highest ranking of any southern state. USA Today
- South Carolina ranks #7 in overall growth. US News & World Report
- South Carolina ranks #8 in job growth. Id.
- South Carolina ranks #5 in net migration. Id.
- South Carolina ranks #5 in growth of young population. Id.
- South Carolina ranks #7 in economic growth. Id.
- South Carolina ranks #11 in GDP growth. Id.
- South Carolina ranks #12 in low tax burden. Id.
- South Carolina was predicted to surpass 5 million people by 2020 but instead did so by 2017. University of NC Carolina Population Center.
- South Carolina’s population has increased by 500,000 people since the 2010 census.
- The Central Midlands Council of Governments expects the combined populations of Lexington and Richland counties to be 1 million in 20 years which is a 40% increase.
What do all of these great numbers mean for real estate agents in Columbia and Greenville? According to an article in The Post and Courier (Dec. 23, 2017) the state population growth has been concentrated in metropolitan areas such as Charleston, Myrtle Beach, Columbia, Greenville, Hilton Head and Charlotte. In fact one quarter of South Carolina counties account for three-quarters of the state’s growth. Id. In order to meet the housing demands in Greenville and Columbia a lot more houses are going to have to be built and sold. There simply is not enough housing so prices will rise.
While some people abhor growth, it is going to happen whether we like it or not. As snow continues to fall and taxes continue to rise in the Midwest and Northeast people will continue to migrate to our state. It looks like a good future for our industry! Pray for a snowy winter up north.
BLAIR CATO celebrates the influx of people to South Carolina. At closing our new South Carolinians are asked to pin the spot on the map from where they are moving from. Help us fill up the map!
Photo by geraldbrazell