Hanahan is a lovely town just outside of North Charleston. Living in coastal cities like Charleston and North Charleston has an appeal to many people. Others prefer to stay away from the larger crowds and expensive prices of major cities. Hanahan offers an affordable option for South Carolina residents who enjoy living near the coast but don't want the headache of owning property in the city. Hanahan effectively acts as a northern suburb of North Charleston. The northern location puts it close to some of the area's most impressive attractions, including Francis Marion National Forest and Goose Creek Reservoir, which runs through Hanahan. Rental property costs less in Hanahan than most other communities in the metropolitan area. Hanahan residents can expect to spend an average of $1,300 per month on studio apartments. A similar studio apartment would cost more than $1,500 in North Charleston. In Hanahan, people can rent one-bedroom homes and apartments for about $1,400 per month. Two-bedroom rentals cost an average of $1,600 per month, and three-bedroom homes cost an average of $1,900 per month. Comparable rental units cost at least $100 more per month in North Charleston. Hanahan has a 7.11% vacancy rate, which could force property owners to compete with each other by keeping rental prices as low as possible.