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South Carolina market guide
DSCR loans in Florence, SC
Rental financing for Florence investors, qualified on the property's rent.
Florence is a SC market where the rent-to-payment ratio decides the loan. Median rent is $992, median home value is $211,400 and 42% of households rent.
What the numbers say about Florence
Start with the two numbers every DSCR file turns on. Rent in Florence runs a median $992 a month (about 16% below the South Carolina median of $1,180), and the median owner-occupied home is worth $211,400. By the simple measure of annual rent over home value, Florence sits at 5.6%, neither especially thin nor especially rich. Lenders do not underwrite a ratio like that, but investors use it to decide where to look first.
| Indicator | South Carolina | Florence | Difference |
|---|---|---|---|
| Persons per household | 2.44 | 2.42 | |
| Share in 2-4 unit buildings | 4.5% | 11.2% | +149% |
| Share of homes detached | 64.5% | 66.8% | +4% |
| Long commuters, 45 min plus | 14.7% | 6.5% | -56% |
| Workers on their own account | 9.9% | 11.4% | +14% |
| Renters paying 30%+ of income | 52.1% | 54.1% | +4% |
| Units sitting vacant | 13.3% | 14.1% | +6% |
| Typical construction year | 1992 | 1983 | |
| Annual rent divided by value | 5.5% | 5.6% | +3% |
| Households that rent | 28.1% | 41.6% | +48% |
| Annual property tax bill, median | $1,251 | $860 | -31% |
| Household income, median | $69,324 | $56,143 | -19% |
| Typical owner-occupied value | $259,000 | $211,400 | -18% |
| Typical monthly rent | $1,180 | $992 | -16% |
| Residents (Census estimate) | 5,296,225 | 40,408 |
Roughly 41.6% of occupied housing in Florence is rented, well above the South Carolina median of 28%. Median household income is $56,143, about 19% below the South Carolina median of $69,324, and 54% of renter households pay 30 percent or more of income on rent.
The kind of housing in Florence
Florence is dominated by detached homes (67% of units), which keeps most rental income tied to house comparables and puts maintenance squarely on the owner. With 1983 as the median build year, expect aging HVAC and roofs and ask for the dates of the last replacements.
Roughly 14% of units in Florence sit vacant, and the share of rentals available for rent is 10.7% at the survey's snapshot.
What stands out in Florence
With a 5.6% rent-to-value ratio, Florence deals tend to work when the buyer controls the price and carrying costs, and struggle when either runs above the median. Housing here is neither new nor ancient, so condition varies widely from block to block and the inspection tells you more than the median. A 42% renter share is large enough to keep units leased, so location relative to jobs and schools drives rent more than the market as a whole.
What costs can do to a Florence ratio
Homeowners in Florence paid a median $860 in real estate taxes, well below the South Carolina median of $1,251, an effective rate near 0.41% of home value against 0.48% statewide. Measured against a year of median rent, taxes eat about 7% before any other cost shows up.
For hazards, FEMA's National Risk Index puts Florence County at a relatively moderate overall rating, and its top-ranked hazards are hurricanes (relatively high), tornadoes (relatively high) and ice storms (relatively high).
| Hazard in Florence County, FEMA index | Level |
|---|---|
| Lightning exposure | Relatively High |
| Ice storms exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Hurricanes exposure | Relatively High |
| Social vulnerability score | Relatively High |
| Annualized loss estimate | Relatively Moderate |
| Composite risk | Relatively Moderate |
Insurance belongs in the ratio from day one, so get a landlord quote for the Florence address and ask about roof age, wind or hail deductibles and flood cover.
The ratio in Florence dollars
At the city medians a DSCR file in Florence has $920 a month after taxes to cover principal, interest, insurance and dues if the ratio is 1.00, or $722 if the ratio is 1.25. Those two numbers show why insurance quotes and tax estimates come first.
Registration, deposits and nightly stays in Florence
For Florence, treat local rental rules as an open question to close before you offer. Ask the city and Florence County about landlord registration, inspections and short-term rental permits, and check association documents too. If you are weighing nightly income in Florence, the state tax backdrop is this. Code 12-36-920, and counties and cities may add a local accommodations tax that they collect themselves.
For a Florence lease, the South Carolina deposit rule is No cap on the amount in the Residential Landlord and Tenant Act, as set out in S.C. Code Ann. § 27-40-410. Plan for a 30 day return window on any Florence deposit once the tenant moves out. For month-to-month tenants in South Carolina, the landlord's termination notice is 30 days' written notice before the termination date (7 days for week-to-week).
Florence compared with nearby markets
Prices in the comparison range from $199,100 in Sumter to $260,900 in Conway, with Florence at $211,400.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Conway | 35% | $1,024 | $260,900 | 27,263 | $866 |
| Sumter | 43% | $1,123 | $199,100 | 43,053 | $1,076 |
| Florence | 42% | $860 | $211,400 | 40,408 | $992 |
Workforce and demand drivers in Florence
Roughly 11.4% of employed people in Florence are self-employed, a base of investors and landlords for whom a rent-based loan is a practical option. Other workforce markers: government workers are about 16% of employment, 30% of adults hold a bachelor's degree or higher and 6% of commuters travel 45 minutes or more.
The Florence area is home to Francis Marion University and Florence-Darlington Technical College. Students and employees at schools like these are a recurring source of rental demand. Transportation links include interstate access via I-95 and I-20 and air service through Florence Regional Airport and Myrtle Beach International Airport. Easy highway and air access helps both tenant commutes and remote ownership.
Moving from numbers to a Florence loan
Before you offer on a Florence property, test the ratio in the calculator, then apply now or request a DSCR quote.
More South Carolina markets
Source links
- South Carolina tax source: S.C. Code 12-36-920
- U.S. Census Bureau data for Florence
- National Risk Index entry, Florence County
- Wikipedia: Florence, South Carolina
- Text of S.C. Code Ann. § 27-40-410 for Florence landlords
- State rule cited for Florence hosts: SCDOR accommodations tax
The Florence statistics are five-year ACS estimates (2020 to 2024), which have sampling error. The South Carolina legal summaries are from the RedFlagLease dataset, licensed CC BY 4.0, with statute links. Facts were checked in October 2026, and rules change.
Pre-offer checklist
Before you commit on a Florence deal, confirm the rent with the lease or a market estimate, price the insurance for the exact address, and check how the taxes may change after the sale, so the ratio you run matches the one the lender calculates.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
What rent number goes into a Florence, SC DSCR calculation?
Expect to supply a lease, or let the appraiser's rent schedule stand in for one; the Florence median rent of $992 is context and not a substitute.
How do taxes and insurance affect a DSCR loan in Florence?
The denominator is the whole housing payment. Using Florence's median rent of $992, a ratio of 1.25 allows $794, and a ratio of 1.00 allows all $992.
How high are property taxes in Florence?
About $860 a year at the median, which is 0.41% of value and well below the South Carolina median of $1,251. Reassessment after a purchase can move that number, so get an estimate for the actual price.
What about VRBO or Airbnb income on a Florence purchase?
Yes on programs built for it, once the use is lawful in Florence. Gather twelve months of statements or a third-party projection, and have South Carolina tax registration squared away.
When must a Florence landlord return a deposit?
Under S.C. Code Ann. § 27-40-410: No cap on the amount in the Residential Landlord and Tenant Act. The deposit is due back within 30 days of move-out. Check the statute and your lease before collecting.
What does FEMA say about hazard risk near Florence?
The National Risk Index gives the county an overall relatively moderate rating. Use that as a prompt to get quotes, not as a verdict on one Florence street.
Should a Florence rental be bought in an LLC?
No, but it is common. Entity borrowers supply articles, an operating agreement and an EIN letter, and the owners typically guarantee the loan. A South Carolina attorney can advise on structure.