Real Estate Investing in Florence, South Carolina (29505)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29505 (Florence, SC)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 10.6% vacancy may signal weakening demand.
What’s happening in Florence, SC (29505)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 29505 Florence
The 29505 ZIP covers a section of Florence that demands careful diligence. Prices near $236K look accessible, but the work to make a deal cash flow is real.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $236K asset, 29505 is the wrong submarket. If the plan prices in friction, the yield can still work.
From a cash-flow lens, 29505 offers a low basis, the region around Florence has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 29505 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 29505 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Florence:
Property Strategy for 29505
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $152,586 | $1,380 | 6.5% | +7.0% | $76,293 |
| 3BR | $217,224 | $1,770 | 5.9% | +7.2% | $72,408 |
| 4BR | $317,029 | $1,960 | 4.5% | +6.9% | $79,257 |
| 5BR | $408,002 | — | — | +6.6% | $81,600 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29505 Compare?
| Metric | 29505 | Florence | Florence, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $235,989 | $125,450 | N/A | $299,690 |
| 5-Year CAGR | 5.8% | 4.4% | N/A | 7.3% |
| Avg Rent | $1,449 | $1,299 | N/A | - |
| Cap Rate | 4.8% | 4.9% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29505 (Florence, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $235,989 |
| Monthly Rent | $1,449 |
| Price-to-Rent | 13.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.4% |
| Cap Rate | 4.8% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | +3.7% ▲ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +5.8% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | -1.2% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.8%). 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 29505
Population: 23,953
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 29505
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 961 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Florence, SC?
Median home price in Florence, SC is near $236K, with a 5-year CAGR of 0.0%. Prices have been predictable and supportive of buy-and-hold strategies.
Are renters plentiful in Florence, SC?
Tenant demand in Florence, SC is solid. The local workforce $1,449/mo rents across most rental classes.
What type of investing works in Florence, SC?
Florence, SC investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($236K prices, $1,449/mo rents) make it a reasonable choice.
Are there empty rentals in Florence, SC?
Expect elevated vacancy in Florence, SC. Rents at $1,449/mo are absorbed by the tenant base without meaningful lag.
Are eviction rules reasonable in Florence, SC?
The landlord environment in Florence, SC is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
You know 29505 now. You don’t know where it ranks.
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How 29505 ranks in Florence, SC
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