Real Estate Investing in Saluda, South Carolina (29138)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29138 (Saluda, SC)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 17.9% of homes vacant — above national norms.
- Elevated poverty: 24.9% poverty rate — can affect rent collection.
- Lower household income: $39,607 median — tenant affordability is tighter.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Saluda, SC (29138)?
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Market Analysis: 29138 Saluda
ZIP 29138 inside Saluda County looks affordable on the surface — median value of $177K — but the discount exists for reasons that a careful buyer should understand before committing.
The 29138 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within SC, ZIP 29138 trails on several market indicators that neighboring Saluda County submarkets outperform. The gap is real and impressive enough to shape underwriting.
A impressive renter share of 28% in 29138 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Saluda:
Property Strategy for 29138
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $223,386 | $1,300 | 4.2% | +8.6% | $74,462 |
| 4BR | $299,675 | $1,560 | 3.7% | +8.9% | $74,919 |
Market Trends
Home Value History (with trend line)
📊 How Does 29138 Compare?
| Metric | 29138 | Saluda | Columbia, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $176,876 | $176,876 | N/A | $299,690 |
| 5-Year CAGR | 5.0% | 5.0% | N/A | 7.3% |
| Avg Rent | $918 | $918 | N/A | - |
| Cap Rate | 4.1% | 4.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29138 (Saluda, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $176,876 |
| Monthly Rent | $918 |
| Price-to-Rent | 16.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.1% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +8.3% ▲ |
| 3-Year CAGR | +4.7% ▲ |
| 5-Year CAGR | +5.0% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 29138
Population: 9,641
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 29138
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are rents high in Saluda, SC?
Saluda, SC rentals go for roughly $918/mo a month. That puts gross yield in solid territory relative to $177K acquisition costs.
How much should I expect to pay for a home in Saluda, SC?
Expect median prices around $177K in Saluda, SC. The market has run at a 0.0% 5-year CAGR, so entry costs have been consistent.
How strong is Saluda, SC for real estate investors?
Saluda, SC rates 3.0/5 for investability. With median values at $177K and rents near $918/mo, the market offers reasonable fundamentals for rental investors.
Which real estate strategy fits Saluda, SC?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Saluda, SC. The numbers - $177K homes against $918/mo rents - support that play.
What is the rental occupancy rate in Saluda, SC?
Saluda, SC vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 29138 now. You don’t know where it ranks.
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How 29138 ranks in Columbia, SC
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