South Carolina balances growth with housing and infrastructure demands
What's driving growth
South Carolina's economic expansion is fueled by substantial capital investment, with $9.12 billion in industry recruitment during 2025. This investment has created over 8,100 new jobs, with a notable focus on rural development in sectors like automotive and agribusiness. Major employers such as First Solar in Cherokee County and Woodward, Inc. in Spartanburg County have announced significant investments.
Housing market right now
The South Carolina housing market is stabilizing, with the average home value around $302,294 as of late 2025, a slight decrease of 0.8% year-over-year. Columbia's housing market is forecast to experience a 7.2% price growth in 2026, making it a strong performer. In March 2026, home prices statewide were up 4.2% compared to the previous year, with 39,011 homes for sale.
Migration patterns
South Carolina continues to attract new residents, gaining 79.7 residents per 10,000 people in 2025, making it a leading state for domestic net migration. North Carolina was the top state for inbound movers in 2024, followed by individuals from foreign countries. The Myrtle Beach–Conway–North Myrtle Beach area led the nation in attracting new residents.
Headwinds
Economic growth in South Carolina faces challenges from a pullback in consumer spending and slower job growth in some sectors. Industries tied to international trade, such as manufacturing, retail, and logistics, have experienced flat or negative growth due to business uncertainty. Proposed legislation like House Bill 3876, which would impact short-term rental owners, could also affect tourism revenue and small business operators.
Key facts
- South Carolina announced $9.12 billion in capital investment and over 8,100 new jobs in 2025. (South Carolina Department of Commerce, January 2026)
- The average South Carolina home value was around $302,294 in late 2025, a 0.8% decrease year-over-year. (Vertex AI Search, November 2025)
- Columbia is projected to see a 7.2% increase in home prices in 2026. (realtor.com, December 2025)
- South Carolina gained 79.7 residents per 10,000 people in 2025, the highest proportion of domestic net migration. (HireAHelper Migration Report, January 2026)
- The South Carolina Department of Transportation approved a $576 million 2026 Pavement Improvement Plan in May 2025, adding 732 miles of roadway to ongoing projects. (SCDOT, May 2025)