This is the most expensive neighborhood in SC and what it costs to own a home there
There are expensive places to live in South Carolina.
Then there is Sullivan’s Island.
CashNetUSA recently ranked Sullivan’s Island as the most expensive neighborhood in South Carolina. The ranking is part of a list of most expensive neighborhoods in every U.S. state, based on Zillow data.
Home prices across South Carolina overall have skyrocketed the last two years. For instance, the median home sales price in the state was $311,032 in the first quarter of 2023, up 22% from the first quarter of 2021, according to South Carolina Realtors.
And yet, that is all chump change compared to home ownership in Sullivan’s Island. A home there costs an average of about $5.4 million, the ranking states.
Sullivan’s Island
The 2.5 mile-long barrier island and its charming little beach town is about 10 miles from downtown Charleston. The island has a strict preservation plan and so doesn’t have the usual accommodations that visitors would expect, like major hotels and motels. Instead, only vacation rental homes are available.
The island does feature a strong restaurant scene, with plenty of options for fine dining and family eating.
Sullivan’s Island also has a good bit of history. The island was settled in the late 17th Century by Capt. Florence O’Sullivan and was later the site of a major Revolutionary War battle.
Methodology
To compile the rankings, CashNetUSA used real estate data from Zillow to group together neighborhoods of towns and cities in all 50 U.S. states. It then calculated the average price in each neighborhood by adding together the house prices in each area and dividing them by the number of properties.
10 most expensive U.S. neighborhoods
Why Sullivan’s Island is pricey, it is still not among the top most expensive places to live in the U.S. Below is a list of the 10 most expensive neighborhoods in the U.S. and their average house prices, according to CashNetUSA.
Manalapan, Florida: $39,761,000
Palm Island, Florida: $27,624,833
Snowmass, Colorado: $23,568,750
Beverly Hills Gateway, California: $22,771,957
Port Royal, Florida: $22,032,667
Golden Beach, Florida: $18,659,412
Bel Air, California: $18,581,775
SouthHampton Village, New York: $16,719,714
Sagaponack, New York: $16,016,944
Trousdale Estates, California: $15,870,100
South Carolina home sales prices
To keep things more in perspective, here’s an interactive map that shows the latest median sales price for homes in each South Carolina county, using data from Redfin.
