Orangeburg, SC Cap Rate: 8.61% — Rental Property Analysis
Orangeburg is one of the most affordable markets in the country in the South with a small but investable metro of 50,000. At a 8.61% estimated cap rate, this is a high-yield market where rents of $1,320/mo lag behind home prices. With a median home price of $150,000 and steady population growth supports long-term rental demand, Orangeburg stands out as a market worth serious analysis for rental investors.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
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Strong investment fundamentals
Based on $150,000 median price and $1,320/mo median rent
Est. Cap Rate
8.61%
1% Rule
0.88%
Fails
GRM
9.5x
Price / Income
3.0x
Market Data
Median Home Price$150,000
Median Monthly Rent$1,320
Property Tax Rate0.57%
Population50,000
Population Growth1.9% / yr
Median Household Income$49,486
Vacancy Rate5.5%
Annual Appreciation3.4%
2026 Market Update: Orangeburg
At a 0.9% rent-to-price ratio, Orangeburg falls just below the 1% rule threshold. A median-priced property at $150,000 with $1,320/mo rent yields approximately $1,076/mo in NOI — workable with favorable financing but not a slam-dunk cash flow market.
With 20% down ($30K) on a 7% conventional loan, estimated monthly cash flow is $278 — a 11.1% cash-on-cash return. That's strong enough to weather vacancies and unexpected repairs without dipping into reserves.
With 1.9% annual population growth paired with 3.4% home appreciation, Orangeburg offers a rare combination of current cash flow and future equity upside. The 9.5x gross rent multiplier suggests the market hasn't fully priced in this growth trajectory.
Cap Rate Calculator — Orangeburg
Pre-filled with Orangeburg medians. Adjust to match a specific property.
Property Details
$
$
3–8% typical
%
Monthly Expenses
0.57% rate
$
$
8–10% of rent
$
8–12% of rent
$
Cap Rate
7.11%Moderate
Net Operating Income ÷ Purchase Price
NOI / Year
$10,661
net operating income
Gross Rent Multiplier
9.5x
Good (<15)
1% Rule
0.88%
✗ Fails
Monthly Cash Flow
$888
before debt service
Annual Breakdown
Gross Rental Income$15,840
Less Vacancy−$871
Effective Income$14,969
Less Operating Expenses−$4,308
Net Operating Income$10,661
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Factor in financing to see your actual return on invested capital in Orangeburg.
$
$37,500
%
%
years
$
taxes + ins + maint + mgmt
$
$
Cash-on-Cash Return
0.93%Weak
Annual Cash Flow ÷ Total Cash Invested
Total Cash Invested
$42,000
$37,500 down + $4,500 closing
Monthly Mortgage
$733
on $113K loan
Monthly Cash Flow
$33
after all expenses
Annual Cash Flow
$391
before taxes
Cash Flow Breakdown
Monthly Rent$1,320
Less Expenses−$554
Less Mortgage−$733
Monthly Cash Flow$33
Is Orangeburg a Good Place to Invest in Rental Property?
Orangeburg, SC has a population of 50,000 and has been growing at 1.9% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $150,000 paired with median rents of $1,320/mo produces an estimated cap rate of 8.61%.
Property taxes at 0.57% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 5.5% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.0x, homes cost about 3.0 times the local median income of $49,486. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 3.4% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Orangeburg offers attractive fundamentals for rental investors. Strong population growth, low taxes, and cap rates above 6% put it in the upper tier of investable markets.
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