Charleston is known for its charm, history, and waterfront views—but it’s also a hub of higher education and healthcare. Three major institutions—the College of Charleston, The Citadel, and the Medical University of South Carolina (MUSC)—play a vital role in shaping the local rental market. Every year, thousands of students, faculty, medical professionals, and support staff come to Charleston, creating steady rental demand across downtown and surrounding neighborhoods. For landlords, investors, and property managers, understanding how these institutions influence rental trends can help you make more informed and profitable decisions.
A Reliable Stream of Renters
The College of Charleston enrolls over 11,000 students each year, but on-campus housing is limited to fewer than 4,000 students. That leaves a large portion of the student population seeking off-campus rentals within walking or biking distance to campus. The Citadel, while housing its undergraduate cadets on campus, also contributes to the rental market through its graduate programs, visiting professors, and administrative staff, many of whom prefer nearby housing in neighborhoods like Wagener Terrace or Hampton Park.
MUSC, however, has perhaps the broadest influence. As one of the largest employers in Charleston, MUSC brings in over 17,000 employees, in addition to more than 3,000 medical students and residents. Many of these individuals are in town for short- to medium-term stays, creating a consistent demand for furnished rentals, especially near the medical district. These renters often look for quiet, well-maintained housing close to downtown or in centrally located neighborhoods like Harleston Village, Cannonborough-Elliotborough, and the Upper Peninsula.
Rental Pricing and Investment Growth
With demand fueled year-round by these institutions, Charleston’s rental market has experienced sustained growth over the past several years. Rents have risen by over 30% since 2020, and well-located properties—especially those downtown—continue to command premium rates. Investors who own or acquire housing near these campuses often see strong occupancy and high returns, particularly if they offer features that appeal to students and professionals alike, such as modern updates, walkability, and flexible lease terms.
Because so many of MUSC’s renters are medical residents or rotating healthcare workers, furnished units with lease terms under one year are especially attractive. These professionals prioritize convenience and move-in-ready options, making short- and mid-term rentals a smart strategy in this part of the city. In contrast, College of Charleston students and Citadel staff tend to sign traditional 9- to 12-month leases, offering more long-term stability for landlords who prefer steady occupancy over frequent turnover.
Location and Lifestyle Matter
Neighborhoods within a 10- to 15-minute commute to all three institutions see particularly strong demand. Areas like West Ashley, James Island, and North Central Charleston offer slightly more affordable rents than downtown, while still providing easy access to campus and downtown amenities. Renters from all three institutions often value nearby dining, shopping, and cultural attractions, in addition to short commutes and walkability.
As a result, homes and multifamily properties in these zones are highly desirable to both tenants and investors. Many property owners are also opting to renovate older homes into multi-bedroom student rentals or furnished apartments for healthcare professionals. These upgrades not only increase rental value but also attract a wider range of qualified tenants.
What This Means for Property Owners
Owning a rental near the College of Charleston, The Citadel, or MUSC offers a unique opportunity to tap into a consistent, built-in tenant base. While each institution contributes to the market in different ways, they collectively create strong year-round demand for everything from student housing to furnished short-term rentals. Whether you’re marketing to undergraduates, graduate students, professors, or medical professionals, the key to success lies in understanding what your target tenant needs—and delivering that experience.
If you’re a landlord or investor looking to grow your portfolio or better manage existing properties near Charleston’s educational and medical hubs, now is the time to act. Our team specializes in helping property owners attract quality tenants, maximize rental income, and reduce vacancy. Contact us today to learn how we can help you succeed in Charleston’s dynamic and competitive rental market.