Updated 2026 · Based on median market data for Gaffney, SC
The median monthly rent in Gaffney, SC is $990, translating to $11,880 in annual gross rental income per unit. The rent-to-price ratio is 0.55% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Gaffney spend approximately 24% of the local median household income ($49,486) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Gaffney 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.
Gaffney's GRM (price divided by annual rent) is 15.2x. A GRM between 12-16x is moderate and typical of balanced markets. Deals can work but you need to keep expenses controlled. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $990/mo, a single-family rental in Gaffney generates approximately $11,880 in gross annual income. After accounting for 5.5% vacancy ($653 lost), property taxes of $1,026, insurance (~$720), and maintenance (~$720), the estimated NOI is $8,761 per year, or $730/mo.
Gaffney vs South Carolina state average and national average across key investment metrics. Gaffney beats the national average but trails the South Carolina average on cap rate.