Florence, SD—57235
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Florence, SD
As of Oct '25, the median home price in Florence, SD is $509,000, with a year-over-year change of -4.4%. This indicates that home prices in Florence, SD are decreasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $509,000 | -4.4% |
| Single Family | $508,000 | -3.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Florence, SD
Florence, SD lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Florence, SD
Florence, SD lacks sufficient listing trend data for analysis.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | N/A | N/A |
Listing Count | N/A | N/A |
| Listings as % of Homes | N/A | N/A |
Days on Market | N/A | N/A |
Demographics — Florence, SD
As of the latest ACS Survey released in 2023, Florence, SD has a population of 796, which has decreased by -11.3% over the past 5 years. Florence, SD is a moderately popular place for families, as children make up 24.1% of the population. The area has a poorly educated workforce, with 18.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 796 | -11.3% |
% Under 18 | 24.1% | -21.0% |
% Seniors | 24.1% | 79.9% |
% WFH | 12.4% | 65.3% |
% w/ College Degree | 18.9% | 38.0% |
As of the latest ACS Survey released in 2023, Florence, SD is a predominantly white area, with 96.1% of the population identifying as white. The white population has grown by 1.9% in the last 5 years. The second most common race or ethnicity in Florence, SD is asian, making up 0.8% of the population. Foreign-born residents account for 0.8% of the population in Florence, SD, and this percentage has decreased by 63.6% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 96.1% | 1.9% |
% Black | 0.0% | N/A |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.8% | -63.6% |
% Foreign Born | 0.8% | -63.6% |
Mortgage and Risk — Florence, SD
According to HUD data as of 2023, there were 21 mortgage originations in Florence, SD, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 19.0% above 90% LTV (elevated). This implies medium mortgage risk in Florence, SD. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 21 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Florence, SD
Florence, SD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | N/A | N/A | $960 |
| 3 Bedroom | N/A | N/A | $1,250 |
| 4 Bedroom | N/A | N/A | $1,600 |
Affordability — Florence, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $509,000 |
| Median Household Income | $80,900 |