Orangeburg County presents a cash-flow-versus-demand-resilience tension: a reported 9.51% gross yield is meaningful before costs, while covered employment and migration indicators warrant caution. It merits investigation by investors able to verify asset-level expenses and tenant depth; buyers relying on broad employment growth, rapid rent gains, or easy resale should be cautious. County metrics do not establish neighborhood performance.
Zillow’s county observations for 2026-06 put the median home value at $166,963 and median asking rent at $1,323 per month, up 3.68% and 0.94%, respectively. The supplied yield is calculated from market rent, but is gross, not net. HUD’s two-bedroom FMR is $910, a payment standard rather than asking rent; the supplied market-rent comparison is 45.40% above FMR. The effective property-tax rate is 0.65%, a recurring carrying cost to test on the parcel. Separately, FHFA’s repeat-transaction HPI rose 2.72% in 2025, directionally consistent with Zillow’s later price change, but not the same period or a value measure.
QCEW’s 2025 annual county workplace data show covered employment declined 2.59%, while the average covered-worker weekly wage was $940, down 9.96%. Trade, transportation, and utilities is the largest disclosed private supersector, not a description of the entire economy. Migration was negative by 159 tax-return households; movers in reported average income $671 above movers out, a favorable income mix alongside net loss. Investors accounted for 9.05% of purchase mortgages, indicating some non-owner competition but not the terms, cash activity, or total buyer demand. Realtor.com MLS listing figures—asking price, active inventory, marketing time, and reductions—are not published here, preventing a visible-supply or seller-concession reading.
Hurricane is the dominant hazard, and modeled annual building-value loss is 0.18%; underwriting needs location-specific insurance, flood and wind terms, mitigation, and deductibles rather than treating this county ratio as a property loss estimate. Vacancy, operating expenses, financing, condition, lease terms, and closed-sale comparables are not published, so net yield, debt coverage, and exit value cannot be determined. Next checks are parcel tax bills, insurance quotes, rent comps, and current MLS data.