Real Estate Investing in Florence, South Carolina (29506)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29506 (Florence, 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: 18.0% of homes vacant — above national norms.
- Elevated poverty: 22.9% poverty rate — can affect rent collection.
- Lower household income: $36,116 median — tenant affordability is tighter.
What’s happening in Florence, SC (29506)?
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Market Analysis: 29506 Florence
Put differently, ZIP 29506 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $149K median. It rewards specialists, not generalists.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $149K asset, 29506 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Florence have seen price recovery that 29506 has not matched. Florence County data supports the view that the spread is structural rather than temporary.
Resident income in 29506 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Strategy in 29506 is an operator game, not a passive one. Put differently, entry prices of $149K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Florence:
Property Strategy for 29506
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $57,915 | $980 | 12.2% | +4.5% | $28,958 |
| 3BR | $142,012 | $1,260 | 6.4% | +4.7% | $47,337 |
| 4BR | $246,117 | $1,390 | 4.1% | +6.4% | $61,529 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29506 Compare?
| Metric | 29506 | Florence | Florence, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $149,020 | $125,450 | N/A | $299,690 |
| 5-Year CAGR | 2.2% | 4.4% | N/A | 7.3% |
| Avg Rent | $943 | $1,299 | N/A | - |
| Cap Rate | 4.9% | 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 29506 (Florence, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $149,020 |
| Monthly Rent | $943 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +0.7% ▲ |
| 5-Year CAGR | +2.2% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | -6.2% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.9%). 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 29506
Population: 20,323
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 29506
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 kind of market is Florence, SC for investors?
Florence, SC rates 3.0/5 for investability. With median values at $149K and rents near $943/mo, the market offers reasonable fundamentals for rental investors.
How much rent can I charge in Florence, SC?
Rental rates in Florence, SC average $943/mo. Tenant demand and $149K home values make the yield look reasonable by investor standards.
Is SC a landlord-friendly state?
SC ranks as a landlord-friendly state for landlord-tenant law. Florence generally follows the statewide framework, so landlords face reasonable operating rules.
Can owner-occupants cash flow in Florence, SC?
House hacking in Florence, SC is a challenging. With home values around $149K and rents at $943/mo, owner-occupants can offset a meaningful share of PITI.
What real estate strategy is ideal for Florence, SC?
The best-fit strategy in Florence, SC is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 29506 now. You don’t know where it ranks.
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How 29506 ranks in Florence, SC
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