Florence (SC) Investor Pulse Report (2025-Q4)

Landlords in Florence County collectively hold a significant portfolio of 8,386 Single Family Residential (SFR) properties, accounting for 21.8% of the total SFR market. This demonstrates a substantial investor presence within the county's housing landscape.

Individual investors overwhelmingly dominate the landlord-owned segment, controlling 5,967 properties (71.2%) compared to companies which own 2,468 properties (29.4%). This highlights that the majority of rental housing is managed by smaller, local investors rather than large corporate entities.

The rental market is the primary focus for these landlords, with 8,206 properties (97.8% of the investor-owned portfolio) designated as rented. This high percentage underscores the investor commitment to providing rental housing options in Florence County.

A notable trend in acquisition strategy is the preference for cash purchases, with 6,679 properties acquired without financing. This contrasts sharply with only 1,707 properties being financed, suggesting a strong capital base among Florence County landlords or a strategic move to avoid debt.

The sheer number of individual landlords, totaling 6,618 entities, dwarfs the 1,004 company landlords, resulting in a 6.6:1 ratio. This indicates a fragmented market primarily driven by numerous smaller-scale investors rather than a few large corporations.

In a striking market dynamic, landlords in Florence County consistently acquire properties at significantly lower prices than traditional homeowners. During Q4 2025, landlords paid an average of $138,468, a substantial $179,532 or 56.5% less than the average homeowner price of $318,000.

This pricing disparity represents a widening trend throughout 2025. The landlord discount stood at a modest 10.7% in Q1 ($229,767 vs $257,382) but dramatically expanded to 51.0% in Q2 ($149,443 vs $304,760) and maintained similar levels in Q3 (50.4% at $148,897 vs $300,475), before reaching its peak in Q4.

The consistent and growing discount suggests that landlords possess unique market access, negotiation leverage, or a preference for properties that traditional homeowners may overlook or value differently. This provides a substantial advantage for investor profitability and market entry.

While data on landlord acquisition volumes for specific timeframes showed '0 properties' in one dataset, the detailed price comparison across quarters confirms robust pricing activity for landlord purchases in Q4 2025 and prior quarters. This inconsistency points to a reporting anomaly, but the price differentials remain valid indicators of market conditions.

The significant gap in acquisition prices could reflect landlords targeting distressed properties, off-market deals, or properties requiring substantial renovation, thus acquiring them below typical market value for owner-occupants. This strategy allows them to build a portfolio with a considerable initial equity advantage.

Landlord activity significantly shaped the Florence County real estate market in Q4 2025, with investors completing 101 SFR purchases. This volume represented 29.0% of the total 348 SFR transactions, demonstrating a substantial share of market activity.

The majority of this Q4 purchasing power stemmed from smaller investors. Mom-and-pop landlords (Tiers 01-04) collectively acquired 70 properties, making up an overwhelming 68.0% of all landlord purchases during the quarter. This reinforces their role as the primary drivers of investor activity.

Notably, 45 entities entered the market as new single-property landlords (Tier 01), acquiring 36 properties. This influx of first-time investors signals strong confidence and accessibility for individuals looking to join the rental property market.

While mom-and-pop landlords were highly active, larger entities also contributed. Small-medium landlords (Tiers 21-50) and Large landlords (Tiers 101-1000) each purchased 12 properties, representing 11.7% of landlord acquisitions. Institutional investors (Tier 09) were less active, securing only 5 properties (4.9%).

The distribution of purchases reveals a grassroots-driven market, with individual buyers and small-portfolio landlords collectively setting the pace for investor acquisitions. The average properties per entity varied, with Tier 21-50 entities acquiring 6 properties on average (12 properties by 2 entities), showing higher buying intensity in that segment.

The structure of investor ownership in Florence County is heavily skewed towards smaller landlords. Mom-and-pop investors, defined as those owning 1-10 properties (Tiers 01-04), collectively control a massive 86.2% of all investor-owned SFR properties.

At the foundation of this dominance are single-property landlords (Tier 01), who alone account for 62.1% of the total investor-owned housing, representing 5,350 properties. This highlights the accessible nature of real estate investment in the county and the prevalence of individuals managing single rental units.

The remaining ownership is distributed among mid-size landlords, with Tier 05-08 holding a combined 13.5% of the portfolio. This includes categories like small-medium (11-20 properties) at 3.9% and large (101-1000 properties) at 5.9%.

In stark contrast to the mom-and-pop prevalence, institutional investors (Tier 09, 1000+ properties) hold a negligible share, owning only 22 properties which translates to just 0.3% of the total investor-owned SFR in Florence County. This contradicts popular narratives about widespread institutional takeover, at least within this local market.

Due to limitations in the provided data, a comparative analysis of acquisition prices across different investor tiers could not be performed. This restricts insights into whether larger or smaller investors achieve different pricing advantages in Florence County.

The ownership landscape in Florence County reveals a clear transition point where company investors surpass individuals in property holdings as portfolio size increases. While individual investors are the predominant force in smaller tiers, companies consolidate power in larger portfolios.

For single-property landlords (Tier 01), individual ownership is robust, accounting for 4,761 properties or 88.5% of this tier. This significant concentration underscores the accessible entry point for individual investors into the market.

The shift towards company dominance becomes apparent in the mid-size portfolio tiers. In the 3-5 property tier, individuals still hold a majority at 63.1% (626 properties), but by the 6-10 property tier, companies take the lead with 64.0% ownership (301 properties), surpassing individual holdings of 169 properties (36.0%).

This trend of increasing company concentration continues markedly in the 11-20 property tier, where companies own 81.0% (269 properties) compared to individuals at 19.0% (63 properties). In the 21-50 property tier, companies maintain strong control with 66.4% ownership (160 properties).

The distinct crossover point, where companies become the majority owners, lies squarely within the 6-10 property tier. This pattern suggests that while individuals might initiate investment, scaling up often involves transitioning to or establishing a corporate entity for property management and acquisition.

Due to data limitations, it was not possible to analyze how acquisition prices differ between individual and company buyers within each of these portfolio tiers. This would offer further insight into their respective investment strategies and market power.

Investor-owned SFR properties in Florence County exhibit significant geographic concentration across its various zip codes. The SC-Florence-29501 zip code leads by volume, with 2,889 investor-owned properties, indicating it is the most active area for investor holdings.

While 29501 leads in sheer count, the SC-Florence-29114 zip code demonstrates the highest investor penetration, with a notable 42.7% of its SFR properties being investor-owned. This suggests a particularly deep landlord presence within this specific community.

Several zip codes display a strong overlap between high investor counts and high ownership rates. For instance, SC-Florence-29560 ranks highly in both categories, with 915 investor-owned properties and a substantial 31.1% investor ownership rate, signaling a highly active and concentrated investor market.

Other prominent areas by property count include SC-Florence-29506 (1,286 properties, 26.3% rate) and SC-Florence-29505 (1,178 properties, 14.7% rate). These areas represent key hubs for rental housing in the county.

The top five zip codes by investor-owned count collectively account for a significant portion of the county's investor-owned SFR, indicating that investment activity is not uniformly distributed but rather clustered in specific, attractive sub-markets. Insights into acquisition prices across these regions were not available, which would further clarify regional investment strategies.

Landlords in Florence County have consistently demonstrated a net buyer position over recent periods. In Q4 2025, landlords acquired 118 properties while selling 42, resulting in a robust buy-to-sell ratio of 2.81x and a net gain of 76 properties. This trend continues from earlier quarters in 2025, with a ratio of 2.97x in Q3 and 3.21x in Q2, underscoring persistent accumulation.

For the entirety of 2025, landlords acquired 457 properties against 148 sales, achieving a buy-to-sell ratio of 3.09x and a net increase of 309 properties. This accumulation rate is consistent with 2024, which saw 477 buys against 145 sells (3.29x ratio), signifying sustained growth in landlord portfolios.

Institutional investors (1000+ property tier) showed a notable shift in strategy. After being net sellers in 2024 with a 0.5x buy-to-sell ratio (2 buys vs 4 sells), they reversed course to become net buyers in 2025. In Q4 2025, institutional investors bought 6 properties while selling only 1, indicating a clear move towards accumulation.

Across the full year of 2025, institutional investors maintained a net buyer status with 13 buys against 5 sells, translating to a 2.6x ratio. This suggests a renewed confidence or strategic shift by larger investors to acquire properties in the Florence County market, even if their overall volume remains small compared to all landlords.

A comprehensive analysis of average buy and sell prices for all landlords and institutional investors was not possible due to limitations in the provided data. Similarly, information on the percentage of transactions occurring between landlords (inter-landlord sales) was unavailable, which would offer deeper insights into market liquidity and trade dynamics.

Landlords played a substantial role in the Florence County real estate market during Q4 2025, participating in 118 transactions, which accounted for 23.8% of the total 495 SFR transactions. This indicates a significant and active presence of investors in the quarter's sales.

Transaction volume was primarily driven by smaller landlords. Single-property (Tier 01) landlords were the most active, conducting 45 transactions, while institutional investors (Tier 09) were involved in 6 transactions. Mom-and-pop landlords (Tiers 01-04) collectively accounted for 82 transactions, underlining their market leadership.

A notable pricing disparity exists across tiers: institutional investors (Tier 09) paid an average of $219,061 per property, representing a 71.7% premium over single-property landlords (Tier 01) who paid $127,598. This suggests different acquisition strategies, with larger investors potentially targeting higher-value or more turn-key assets.

Interestingly, the lowest average purchase price was recorded in the small-medium (Tier 21-50) category at $89,750, indicating opportunities for deeply discounted acquisitions in this segment. Conversely, large landlords (Tier 101-1000) also paid a premium, with an average price of $210,458.

Inter-landlord trading activity was notably low across most tiers during Q4 2025. Only single-property (Tier 01) and two-property (Tier 02) landlords reported buying from other landlords, with Tier 02 having the highest percentage at 25.0%. Larger tiers (6-10 properties and above) showed no recorded transactions originating from other landlords, suggesting that larger investors are primarily acquiring properties from non-landlord sellers.