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These days, finding an affordable place to live in the Florence area can be challenging. Home prices in Florence are now at a median cost of $203,994, lower than the South Carolina average of $296,593.
The average cost of rent is $1,055/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 36.76% of households rent, and 41.92% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $5,884 per month. Households that rent pay about 17.93% of their income on rent here. Florence’s most expensive areas are in the northwestern regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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- Westminster, CA: higher priced homes
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