Home Values in Florence, South Carolina — 2026 Market Report
Updated March 2026 | Balanced Market | +4.4% YoY
The median home value in Florence, South Carolina is $195,000 as of March 2026, which is below the national median of $400,000. Home values in Florence have increased by 4.4% over the past year and 24% over the last five years. With a population of 40,512 and a median household income of $42,250, the price-to-income ratio stands at 4.6x, making Florence affordable for the average household.
Florence Housing Market Conditions
| Metric | Florence | National Avg |
|---|---|---|
| Median Home Value | $195,000 | $400,000 |
| YoY Appreciation | +4.4% | +3.8% |
| 5-Year Appreciation | +24% | +22.4% |
| Price per Sq Ft | $72 | $222 |
| Days on Market | 37 days | 45 days |
| Months of Supply | 3.8 | 3.5 |
| List-to-Sale Ratio | 96.4% | 98.5% |
| Monthly Homes Sold | 32 | — |
| Foreclosure Rate | 0.51% | 0.3% |
Home Value Trends in Florence
A homeowner who purchased at the median price of $157,258 five years ago in Florence would have gained approximately $37,742 in equity, representing a 24% return on investment. Over the past year alone, the typical homeowner gained $8,218 in home equity.
Affordability in Florence, SC
With a median household income of $42,250 and a median home price of $195,000, the price-to-income ratio in Florence is 4.6x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,026 compared to estimated monthly ownership costs of $1,019 gives a rent-vs-buy ratio of 0.99. In Florence, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Florence
The effective property tax rate in South Carolina is 0.57%. On a home valued at $195,000, the estimated annual property tax bill is $1,111, or approximately $93/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Florence is 85.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Florence, SC?
The median home value in Florence, South Carolina is $195,000 as of March 2026. Home values have changed +4.4% over the past year, with a 5-year appreciation of 24%.
Is Florence a buyer's or seller's market?
Florence is currently a balanced market with 3.8 months of housing supply. Homes spend an average of 37 days on market, and the list-to-sale price ratio is 96.4%. Supply and demand are relatively balanced.
Are home values going up in Florence?
Yes, home values in Florence have increased by 4.4% over the past year. The 5-year appreciation rate is 24%, meaning a home worth $157,258 five years ago is now worth $195,000.
Is it better to rent or buy in Florence?
The average monthly rent in Florence is $1,026, while estimated monthly homeownership costs are approximately $1,019. The price-to-rent ratio is 15.8. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other South Carolina Cities
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Disclaimer: Home value data for Florence, South Carolina is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.