Conway, SC Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Conway, SC Housing Market Trends

With 25,956 people, 7,921 houses or apartments, and a median cost of homes of $218,119, Conway real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Conway, accounting for 73.41% of the city's housing units. Other types of housing that are prevalent in Conway include large apartment complexes or high rise apartments ( 14.48%), duplexes, homes converted to apartments or other small apartment buildings ( 8.62%), and a few row houses and other attached homes ( 2.75%).

The most prevalent building size and type in Conway are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.02% owning and 42.98% renting.

There is a lot of housing in Conway built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Conway built between 2000 and later ( 34.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.87%). There's also some housing in Conway built before 1939 ( 3.46%).

Vacant housing appears to be an issue in Conway. Fully 13.25% of the housing stock is classified as vacant. Left unchecked, vacant Conway homes and apartments can be a drag on the real estate market, holding Conway real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Conway Home Appreciation Rates

Appreciation rates for homes in Conway have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 43.35%, which ranks in the top 50% nationwide. This equates to an annual average Conway house appreciation rate of 3.67%.

Appreciation rates are so strong in Conway that despite a nationwide downturn in the housing market, Conway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Conway appreciation rates continue to be some of the highest in America, at 10.66%, which is higher than appreciation rates in 72.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Conway. Conway appreciation rates in the latest quarter were at 3.54%, which equates to an annual appreciation rate of 14.92%.

Importantly, this makes Conway one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to South Carolina, our data show that Conway's latest annual appreciation rate is higher than 80% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Conway differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Conway - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Conway real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$218,119

Conway, SC HOME PRICES

> $1,264,000
0.3%
0.3%
$948,001 - $1,264,000
0.8%
0.8%
$632,001 - $948,000
1.6%
1.6%
$506,001 - $632,000
1.1%
1.1%
$379,001 - $506,000
6.2%
6.2%
$253,001 - $379,000
17.1%
17.1%
$127,001 - $253,000
51.5%
51.5%
$63,001 - $127,000
15.5%
15.5%
$0 - $63,000
5.9%
5.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Very High for SC

Value Relative To Nation

Number Of Homes And Apartments:
7,921

Conway Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
71.67% 2.55%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,111 / per month

Homeownership Rate

Owners
57.0%
57.0%
Renters
43.0%
43.0%
Vacant
13.3%
13.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
34.0%
34.0%
1970 - 1999
39.6%
39.6%
1940 - 1969
22.9%
22.9%
1939 or Older
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
73.4%
73.4%
Townhomes
2.7%
2.7%
Small Apt. Buildings
8.6%
8.6%
Apt. Complexes
14.5%
14.5%
Mobile Homes
0.7%
0.7%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
3.3%
3.3%
2 Bedrooms
19.9%
19.9%
3 Bedrooms
61.3%
61.3%
4 Bedrooms
11.0%
11.0%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES