Cost of Living in Florence, SC
Population 40,408 · Census ACS 2020–2024 5-year estimates
The median rent in Florence, SC is $992/month, 16% lower than the South Carolina median and 30% lower than the U.S. median. The median home value is $211,400, 36% lower than the national median. Households earn a median of $56,143 a year, 19% lower than the state median.
Affordability
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Florence vs. South Carolina vs. U.S.
| Florence | South Carolina | U.S. | |
|---|---|---|---|
| Median rent | $992 | $1,180 | $1,413 |
| Median home value | $211,400 | $259,000 | $332,700 |
| Median household income | $56,143 | $69,324 | $80,734 |
| Homeownership rate | 58.4% | 71.9% | 65.2% |
| Bachelor's degree or higher | 30.4% | 32.1% | 35.7% |
| Poverty rate | 18.9% | 14.1% | 12.5% |
| Unemployment rate | 5.4% | 4.9% | 5.2% |
| Work from home | 11.0% | 11.5% | 15.1% |
| Median age | 37.8 | 40.2 | 38.9 |
FAQ
What is the average rent in Florence, SC?
The median gross rent in Florence, SC is $992 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Florence, SC?
Using the common 30% rule, renting a median-priced home takes about $39,680 a year in gross income.
Is Florence, SC expensive to live in?
Rent there is 30% lower than the U.S. median, and the median home costs about 3.8 times the median household income.
Other cities in South Carolina
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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