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Florence, SC Investment Data and Rental Metrics
Investment Data & Rental Metrics
LTR & STR financial performance, market growth indicators, and school ratings.
LTR Financial Performance
Median Price
LTR Rent
$1,297
Monthly Cash Flow
-$63
Principal + Equity
$1,059
Annual Total Gain
$11,961
Cash on Cash
-1.37%
Net ROI %
STR Financial Performance
Median Price
Avg. Daily Rate
$160
Occupancy Rate
63.64%
Monthly Revenue
$1,840
Monthly Cash Flow
$204
Principal + Equity
$1,059
Annual Total Gain
$15,162
Cash on Cash %
4.47%
Net ROI %
Market Health & Growth
Median Income
$56,433
Population
40,205
LTR Renter %
40.29%
Forecast (1 yr)
1.37%
Appreciation (1 yr)
2.59%
Appreciation (5 yr)
39.22%
Appreciation (10 yr)
61.05%
Job Growth
-0.16%
LTR Rentability
Moderate
STR Demand
57
STR Rentals
147
Top Public Schools
BRoyall Elementary School
BLucy T. Davis Elementary School
B
B
B
Market Grades and Information
Best Places to Live Ranking
Public school quality, cost of living, commute, and lifestyle ratings.
B
Overall
Top-level market grade
Best Places to Retire in South Carolina
#43out of 188 markets
Most Diverse Places to Live in South Carolina
#29out of 188 markets
Best Places for Young Professionals in South Carolina
#44out of 188 markets
B
Public School
D
Crime And Safety
B-
Housing
B
Nightlife
B
Good For Families
Diversity
Jobs
Weather
Cost Of Living
Health And Fitness
Outdoor Activities
Commute
Short-Term Rental (STR) Regulations
Local rules and guidelines for operating short-term rentals in Florence, SC.
In Florence, SC, Short Term Rental (STR) regulations are governed by the city's zoning ordinances. Investors looking to purchase a property for STR purposes should be aware of the following regulations:
1. Zoning Restrictions: Florence has specific zoning districts where short term rentals are allowed. Investors should ensure that the property they are considering is located in a zone that permits STRs.
2. Permitting and Licensing: Property owners must obtain a business license and a short term rental permit from the city in order to operate a STR. There may be fees associated with obtaining these permits.
3. Occupancy Limits: Florence may have restrictions on the maximum number of guests allowed to stay in a STR property at one time. Investors should be aware of these limits and ensure they are compliant.
4. Safety and Health Regulations: STR properties must meet certain safety and health standards, such as having working smoke detectors, fire extinguishers, and proper sanitation facilities. Investors should ensure their property meets these requirements.
5. Taxation: STR properties in Florence are subject to local and state taxes, including sales and accommodations taxes. Investors should be aware of their tax obligations and ensure they are collecting and remitting taxes appropriately.
6. Noise and Nuisance Regulations: Florence may have noise ordinances in place that restrict loud noise at certain times of day. Investors should be mindful of these regulations and communicate them to guests.
7. Homeowner's Association Rules: If the property is located in a neighborhood with a homeowner's association, investors should review the association's rules and regulations regarding short term rentals. Some associations may have restrictions or requirements for STR properties.
Overall, investors looking to purchase a property for short term rental in Florence, SC should thoroughly research and understand the local regulations and requirements to ensure compliance and a successful investment.
Market Trends Over Time
Explore 25 years of market data for Florence, SC, including median property prices, long-term rental rates, and days on market — identify growth potential and gauge market stability.
Median Price
Median Rent
Days on Market
Nearest Markets
Explore nearby investment markets close to Florence, SC.
The LTR Genie Score of Florence, SC is 66 and STR Genie Score is 65, indicating a moderate level of attractiveness for both long-term and short-term rental investments. The LTR Rentability is moderate, with a LTR Net ROI of 21.83%, while the STR Net ROI is slightly higher at 27.68%. The 1-Year Price Appreciation Forecast is 1.37%, suggesting a stable market with potential for growth. The STR Occupancy rate is 63.64% and the average STR Revenue is 1840.
The LTR Genie Score is slightly higher than the STR Genie Score, indicating that long-term rental investments may be slightly more favorable in Florence, SC compared to short-term rentals. This could be due to the stable rent growth rate and net ROI for long-term rentals. However, the high STR Net ROI and occupancy rate suggest that short-term rentals could also be a viable option for investors in this market.
Florence, SC is a growing city with a diverse economy, including healthcare, manufacturing, and education sectors. The city offers a mix of urban amenities and a suburban feel, making it attractive to a wide range of tenants. With its stable market conditions and potential for growth, Florence, SC could be a promising location for real estate investors looking to diversify their portfolio with both long-term and short-term rental properties.
LTR Genie Score 93
$185,000
🛏 3 Beds🛁 3.0000 Baths🏙 2,028 sqft.🏠 SINGLE FAMILY
