Updated 2026 · Based on median market data for Greenwood, SC
The median monthly rent in Greenwood, SC is $1,050, translating to $12,600 in annual gross rental income per unit. The rent-to-price ratio is 0.62% — well below the 1% rule, making pure cash flow investing challenging at median prices.
Renters in Greenwood spend approximately 25% of the local median household income ($49,486) on rent. This is within the healthy 25-30% range, indicating rent is affordable relative to local incomes. There may be room for moderate rent increases, especially for updated or well-located units.
The vacancy rate in Greenwood 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.
Greenwood's GRM (price divided by annual rent) is 13.5x. 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 $1,050/mo, a single-family rental in Greenwood generates approximately $12,600 in gross annual income. After accounting for 5.5% vacancy ($693 lost), property taxes of $969, insurance (~$680), and maintenance (~$680), the estimated NOI is $9,578 per year, or $798/mo.
Greenwood vs South Carolina state average and national average across key investment metrics. Greenwood outperforms both benchmarks on cap rate.