Updated 2026 · Based on median market data for Florence, SC
The median monthly rent in Florence, SC is $1,300, translating to $15,600 in annual gross rental income per unit. The rent-to-price ratio is 0.70% — below the 1% rule but within a range where deals can work with good financing.
Renters in Florence spend approximately 32% of the local median household income ($49,486) on rent. This exceeds the standard 30% affordability threshold, suggesting rent growth may face resistance — but it also means a large portion of the population finds buying even more out of reach, supporting rental demand.
The vacancy rate in Florence is 5.5%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 1.9% annually is actively adding rental demand.
Florence's GRM (price divided by annual rent) is 11.9x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,300/mo, a single-family rental in Florence generates approximately $15,600 in gross annual income. After accounting for 5.5% vacancy ($858 lost), property taxes of $1,054, insurance (~$740), and maintenance (~$740), the estimated NOI is $12,208 per year, or $1,017/mo.
Florence vs South Carolina state average and national average across key investment metrics. Florence outperforms both benchmarks on cap rate.