15 South Carolina cities ranked by estimated cap rate. The average cap rate across South Carolina markets is 4.9%, with median home prices averaging $298K and rents averaging $1,554/mo. Orangeburg leads with a 8.6% cap rate at a $150K median price. South Carolina's low average property tax rate of 0.57% gives investors a significant cash flow advantage.
South Carolina offers 15 investable rental markets tracked by CapRateCity. The state average cap rate of 4.9% is above the 3.81% national average, making South Carolina an attractive state for cash flow investors. No cities pass the 1% rule at median prices, so value-add strategies are essential.
Prices and rents: South Carolina home prices average $298K, which is 11% below the national average of $333K. Rents average $1,554/mo.
Taxes and costs: Property taxes average 0.57% across South Carolina, below the 1.08% national average — a meaningful cash flow advantage that adds roughly $1,525 per year to NOI on an average-priced property. Greenville has the lowest rate at 0.55%.Vacancy averages 5.5%, tighter than the national average — favorable for landlords.
Growth outlook: Population growth across South Carolina averages 1.89% per year, led by Myrtle Beach at 3.8%. Home values are appreciating at 3.4% annually on average. Strong population growth is driving housing demand and supporting both rent increases and price appreciation across the state.
Bottom line: South Carolina offers moderate opportunities for rental investors. The best deals are in cities at the top of the ranking — use the calculators on each city page to model specific properties.