Florence, MS—39073
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Florence, MS
As of Oct '25, the median home price in Florence, MS is $240,000, with a year-over-year change of 3.4%. This indicates that home prices in Florence, MS are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $240,000 | 3.4% |
| Single Family | $241,000 | 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 | $148,000 | 5.0% |
3 Bed | $237,000 | 3.0% |
4 Bed | $343,000 | 3.6% |
| 5 Bed | $421,000 | 5.8% |
% of Housing Stock
Rental Trends — Florence, MS
As of July '25, Rentcast reports the average rent in Florence, MS is $1,120, with a year-over-year rent change of 1.8%. Per bedroom, the median rent as of July '25 in Florence, MS is 1-bedrooms: $702, 3-bedrooms: $1,320. The most common rental property sizes in Florence, MS are 3-bedroom and 2-bedroom, accounting for 54.5% and 33.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $702 | $702 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,000 | $1,320 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Florence, MS
As of Oct '25, Realtor.com reports that the median days on market for a home in Florence, MS is 68. This is a increase of 7.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $354,000 | -2.0% |
Listing Count | 65 | -2.0% |
| Listings as % of Homes | 0.4% | -2.0% |
Days on Market | 68 | 7.0% |
Demographics — Florence, MS
As of the latest ACS Survey released in 2023, Florence, MS has a population of 21,600, which has increased by 8.6% over the past 5 years. Florence, MS is a moderately popular place for families, as children make up 23.7% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,600 | 8.6% |
% Under 18 | 23.7% | -4.4% |
% Seniors | 20.5% | 24.2% |
% WFH | 3.3% | 57.1% |
% w/ College Degree | 20.9% | 19.4% |
As of the latest ACS Survey released in 2023, Florence, MS is a predominantly white area, with 77.4% of the population identifying as white. The white population has shrunk by 7.6% in the last 5 years. The second most common race or ethnicity in Florence, MS is black, making up 16.3% of the population. Foreign-born residents account for 1.8% of the population in Florence, MS, and this percentage has increased by 80.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.4% | -7.6% |
% Black | 16.3% | 14.0% |
% Hispanic | 4.4% | 238.5% |
% Asian | 0.2% | ∞% |
% Foreign Born | 1.8% | 80.0% |
Mortgage and Risk — Florence, MS
According to HUD data as of 2023, there were 364 mortgage originations in Florence, MS, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Florence, MS. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 364 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Florence, MS
Florence, MS lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $268 | $702 | $970 |
| 2 Bedroom | N/A | N/A | $1,140 |
| 3 Bedroom | $390 | $1,000 | $1,390 |
| 4 Bedroom | N/A | N/A | $1,540 |
Affordability — Florence, MS
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $240,000 |
| Median Household Income | $72,100 |