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Florence, SC—29501

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$241,000
4.2% YoY Growth
Household Income
$70,600
42.2% YoY Growth
Days on Market
69
31.0% Longer YoY
Home Price Forecast
0.8%
Median Rent
$1,250
6.0% YoY Growth
1-Bed Rent
$1,000
4.8% YoY Growth
2-Bed Rent
$1,000
9.5% YoY Growth
3-Bed Rent
$1,700
10.0% YoY Growth

Other Zip Codes in Florence, SC

2950629505
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Florence, SC

As of May '26, the median home price in Florence, SC is $241,000, with a year-over-year change of 4.2%. This indicates that home prices in Florence, SC are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$241,0004.2%
Single Family $245,0004.3%
Condos $135,0000.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $72,000
    -4.0%
    2 Bed
    		$131,0002.3%
    3 Bed
    		$226,0004.1%
    4 Bed
    		$393,0004.5%
    5 Bed $459,7483.6%
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    % of Housing Stock

    Studio
    3.9%
    1 Bedroom
    3.6%
    2 Bedrooms
    25.2%
    3 Bedrooms
    44.0%
    4 Bedrooms
    18.3%
    5+ Bedrooms
    5.1%

    Rental Trends — Florence, SC

    As of July '25, Rentcast reports the average rent in Florence, SC is $1,410, with a year-over-year rent change of -6.0%. Per bedroom, the median rent as of July '25 in Florence, SC is 1-bedrooms: $1,200, 2-bedrooms: $1,050, 3-bedrooms: $1,760, 4-bedrooms: $2,200. The most common rental property sizes in Florence, SC are 2-bedroom and 3-bedroom, accounting for 46.5% and 33.6% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,250$1,410
    Studio Rent N/AN/A
    1 Bed Rent $1,000$1,200
    2 Bed Rent $1,000$1,050
    3 Bed Rent $1,700$1,760
    4 Bed Rent $2,100$2,200
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    % of Rental Stock

    Studio
    7.4%
    1 Bedroom
    9.2%
    2 Bedrooms
    46.5%
    3 Bedrooms
    33.6%
    4 Bedrooms
    2.8%
    5+ Bedrooms
    0.5%

    Property Listings — Florence, SC

    As of May '26, Realtor.com reports that the median days on market for a home in Florence, SC is 69. This is a increase of 31.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$290,000-14.0%
    Listing Count
    		29725.0%
    Listings as % of Homes0.9%25.0%
    Days on Market
    		6931.0%
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    Demographics — Florence, SC

    As of the latest ACS Survey released in 2023, Florence, SC has a population of 47,300, which has increased by 1.6% over the past 5 years. Florence, SC is a popular place for families, as children make up 26.7% of the population. The area has a moderately educated workforce, with 33.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		47,3001.6%
    % Under 18
    		26.7%16.1%
    % Seniors
    		16.7%2.5%
    % WFH
    		8.0%95.1%
    % w/ College Degree
    		33.0%5.1%
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    As of the latest ACS Survey released in 2023, Florence, SC is a predominantly white area, with 55.6% of the population identifying as white. The white population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Florence, SC is black, making up 35.1% of the population. Foreign-born residents account for 4.2% of the population in Florence, SC, and this percentage has increased by 27.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		55.6%-6.6%
    % Black
    		35.1%2.9%
    % Hispanic
    		3.4%41.7%
    % Asian
    		3.4%78.9%
    % Foreign Born
    		4.2%27.3%
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    Mortgage and Risk — Florence, SC

    According to HUD data as of 2023, there were 707 mortgage originations in Florence, SC, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Florence, SC. Investor activity is low, as 5.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		707
    % Conventional Loans
    		67.0%
    % Government Loans
    		33.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		12.0%
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    Rentals and Section 8 — Florence, SC

    As of 2024, the percent of homes in Florence, SC under the Section 8 program is 4.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Florence, SC, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		431
    Total Units Section 8
    		306
    % Rentals under Section 8
    		4.6%
    % Occupied Section 8
    		73.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$60$1,000$940
    2 Bedroom$170$1,000$1,170
    3 Bedroom-$210$1,700$1,490
    4 Bedroom-$490$2,100$1,610

    Affordability — Florence, SC

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$241,000
    Median Household Income$70,600

    Florence, SC — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Darlington, SC

    29532

    Timmonsville, SC

    29161

    Florence, SC

    29505

    Effingham, SC

    29541

    Florence, SC

    29506

    Frequently Asked Questions