Florence, SC
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.95×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs South Carolina
- 3.42×-0.48
- vs U.S.
- 3.43×-0.48
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
24.9%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs South Carolina
- 25.5%-0.6
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
5.49%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs South Carolina
- 4.42%+1.07
- vs U.S.
- 4.35%+1.14
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.07%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs South Carolina
- 0.37%
- vs U.S.
- 0.03%+0.05
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
4.62
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs South Carolina
- 8.93
- vs U.S.
- 3.52+1.10
Benchmark
Census BPS permits TTM ÷ population × 1,000
softening
Unemployment
5.3%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs South Carolina
- 4.8%
- vs U.S.
- 3.9%
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+49.5%
homeValues.yearOverYear
+4.7%
Median home value
$158,800
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $953 | $11,436 | 21.2% |
| 2 BR | $1,117 | $13,404 | 24.9% |
| 3 BR | $1,434 | $17,208 | 31.9% |
Labor market direction
Unemployment
5.3%
Median household income
$53,874
What's being built
Total TTM
924
+27.3% YoY
Single-family
741
2–4 unit
18
5+ unit
165
All 2 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Florence County | 137,015 | $165,500 | $56,650 | 713 | +27.3% |
| Darlington County | 63,025 | $141,400 | $47,419 | 211 | +27.1% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Florence | 200,040 | $53,874 | 2.95× | 5.49% | +49.5% | 4.62 | 5.3% |
| Johnson City, TN | 207,442 | $56,096 | — | — | +75.6% | — | 3.3% |
| Lake Havasu City-Kingman, AZ | 214,229 | $55,799 | — | — | +46.1% | — | 4.9% |
| Terre Haute, IN | 185,357 | $55,380 | — | — | +55.6% | — | 2.8% |
| Monroe, LA | 206,072 | $49,203 | — | — | +28.4% | — | 4.3% |
| Saginaw, MI | 189,821 | $58,347 | — | — | +54.1% | — | 6.0% |
Where people are moving in from
Net migration
+147
+0.07% of population
| Origin county | Tax returns |
|---|---|
| Darlington County, SC | 491 |
| Florence County, SC | 470 |
| Horry County, SC | 202 |
| Richland County, SC | 171 |
| Williamsburg County, SC | 150 |
| Chesterfield County, SC | 136 |
Who lives in Florence
- Median age
- 40
- Bachelor's+
- 22.4%
- Owner-occupancy
- 66.5%
- Vacancy rate
- 14.8%
- Rent burdened (30%+)
- 43.7%
- Median household income
- $53,874
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.