If you are looking for a great investment opportunity, why not consider residential real estate in Columbia, South Carolina? The whispers are true – housing markets across the nation are rapidly appreciating and in pockets like Columbia, the metrics are even more encouraging. If you are considering investing in real estate, there is no better time than now to do so!
Columbia, South Carolina, is a historic Southern town with a modern spin. The region’s oak, pecan, and magnolia trees add to the rural feel of the area, while the cityscape reflects Columbia’s position as an expanding industrial center.
Columbia’s population is small enough that traffic is manageable and the streets are rarely clogged, but it is sizable enough to offer trendy boutiques, cafés, bars, and other attractions that make urban life pleasurable. Thanks to its pleasant weather, parks, museums, and bustling downtown sector, Columbia is a lively city with plenty of professional, entertainment, and educational opportunities. As one of the fastest-growing metro regions in the Southeast, with 5% population gain since 2010, the area offers excellent investment opportunities in real estate.1
Why Columbia’s Economy Is Growing
Given that Columbia is the state’s capital, it has a significant influence on South Carolina’s economy and culture. Columbia is home to the state’s largest university, The University of South Carolina, as well as the United States Army’s largest Basic Combat Training installation.
In addition, the Columbia Metropolitan Airport has solidified its spot as a major hub with nonstop flights to 11 cities and one-stop flights to over 400 destinations. Government, health care, manufacturing, and energy are just a few of the major industries providing job variety and employment opportunities in the area.
Among Columbia’s major employers are Palmetto Health, UPS, Michelin, Honeywell, Bose, and others, making this South Carolina metro area home to fourteen Fortune 500 companies. Couple that with a lower-than-national-average cost of living2, and that explains why Columbia was recently ranked #4 in a list of US cities3 millennials happily choose to call home.
Construction, manufacturing, commerce, transportation, professional and business services are the employment sectors in Columbia that are showing the strongest signals of growth as the economy improves, according to the Bureau of Labor Statistics4.
In the Columbia metro region, over 43% of residents have a bachelor’s degree or above5. Jobs with the state government are plentiful in Columbia since it’s the state capital of South Carolina.
Employers remain attracted to the region due to its well-educated workforce and low cost of doing business. Meanwhile, Columbia continues to attract residents due to the variety of job opportunities, low cost of living expenses, excellent entertainment options, and high quality of life.
City Highlights of Columbia, SC
In addition to the benefits of living in a growth-oriented city near Fortune 500 companies and the state’s largest university, Columbia offers a variety of outdoor and entertainment activities. A renewed focus on downtown development and family-friendly cultural activities has continued to elevate Columbia’s reputation.
Named after Christopher Columbus, it is a beautiful city with all of the benefits of a major metropolis. There are shopping districts, breweries, and mouth-watering dining options throughout downtown, Richland, and neighboring Lexington County.
The Congaree National Park in Columbia has hiking trails, scenic jogging paths, and fishing and kayaking canals. Outdoor enthusiasts likely have visiting the Three Rivers Greenway, Harbison State Forest, Peachtree Rock Heritage Preserve, Finlay Park, and Granby Park on their bucket list.
Families will discover a lot to do here too! The South Carolina State Museum offers a planetarium, observatory, and 4-D theater activities, while the EdVenture Children’s Museum has hands-on scientific and technical experiences. The Riverbanks Zoo & Garden is home to at least 2,000 animals, ensuring the little ones will want to visit again and again.
History buffs will enjoy being transported back in time during a free tour of the State House. They can also participate in a neighborhood excursion or visit some of the city’s historic homes and gardens to discover more about Columbia’s history.
Here are just a few spots throughout the city that are worth a visit:
- Hampton-Preston Mansion and Gardens
- South Carolina State House
- EdVenture Children’s Museum
- The Columbia Fireflies
- Nickelodeon Theater
As you can tell, whether looking to visit or move to Columbia, SC, there are sightseeing, entertainment, and tour opportunities everywhere! Historical markers commemorate the Revolutionary War, the Civil War, and the Civil Rights Movement throughout Columbia and allow you to experience a rich experience found nowhere else in the country.
Fun Facts about Columbia
- Locals refer to Columbia as “Soda City,” but not because any soda was produced there. Instead, the moniker “Cola” is derived from an archaic abbreviation of Columbia.
- Congaree National Park, just 20 miles outside of town, has the tallest trees east of the Mississippi. Over two dozen “champion trees,” or trees that are the largest of their kind, may be found in Congaree.
- Only half a dozen sites on the planet have synchronous fireflies or fireflies that all light up at the same moment. Congaree National Park, just outside of Columbia, is home to one of them. In late May and early June, the fireflies put on a display.
Why The Columbia, SC Housing Market Is Attractive
The housing market in Columbia is extremely competitive. Last month, the average sale price of a home in Columbia was $185,900, up 19.1 percent over the previous year6.
As people are shifting from high-density apartment living to smaller, more affordable homes in the suburbs, over 50% of Columbia’s households rent instead of own7, strengthening the local real estate market and making it one of the most popular places to rent in the country.
Compared to the national average, South Carolina homes are around 15% cheaper8, which means owners and investors get more bang for their buck. Although the number of jobs has increased during the past 10 years, the average income in South Carolina is slightly lower than the national average.
Not only is South Carolina’s cost of living is less than the national average, but Columbia is also less expensive than the rest of the state. Compared to the rest of the country, food and groceries are about 5% less expensive in South Carolina when compared to the national average, making it enticing to relocate9.
Why The Real Estate Columbia, SC is Worthy of Your Investment Capital
Investing in Columbia, SC real estate is a thrilling endeavor no matter how you look at it. Population growth is increasing, the job market offers a wealth of openings, and unemployment rates have remained low even throughout the economic, political, and health uncertainty that’s been in the mainstream media in recent years.
Overall, Columbia is a fantastic place in which any family can relocate and find great fulfillment. Even though it’s a large city, it has a small-town vibe about it. This fascinating metropolis’ attractions and rich history won’t disappoint!
Here at Arrived Homes, you’ll be able to invest in a fantastic property with only a few clicks. Whether you want to invest a few hundred or several thousand, Arrived makes it easy to learn about and invest in real estate.
To get started today, click here. Once you’ve made your investment and selected your favorite properties, you get to sit back and enjoy your new stream of passive income!
1 – https://www.wltx.com/article/news/local/city-of-columbia-expects-more-growth/101-60dcbf44-0929-4680-92f7-22cd2c595679
2 – https://realestate.usnews.com/places/south-carolina/columbia
3 – https://www.abccolumbia.com/2019/07/17/columbia-ranks-4-of-u-s-cities-millennials-are-calling-home/
4 – https://www.scchamber.net/media-center/article/sc-chamber-announces-2021-best-places-work-south-carolina
5 – https://worldpopulationreview.com/us-cities/columbia-sc-population
6 – https://www.zillow.com/columbia-sc/home-values/
7 – https://www.towncharts.com/South-Carolina/Housing/Columbia-city-SC-Housing-data.html
8 – https://realestate.usnews.com/places/south-carolina/columbia
9 – https://austonmoving.com/blog/cost-of-living-in-south-carolina/