Florence Home Prices: $204K, Up 1.8% — 3 ZIPs Analyzed (2026)

$204,391. That’s the typical home value in Florence, SC as of February 2026. Prices are up 1.8% from a year ago — a modest gain, well below the rent growth in nearby Charleston and Columbia.

Quick answer: The average home price in Florence, SC is $204,391 as of February 2026, up 1.8% year over year.

Current Home Prices in Florence

Florence sits at the affordable end of the South Carolina market. The Pee Dee region hasn’t seen the price surge that hit coastal and Upstate metros, and the data reflects that.

The spread between the cheapest and most expensive ZIP is $93,366 — a 65% gap across a small city. That’s a wider neighborhood-to-neighborhood range than you’d expect in a metro this size.

A 1.8% annual gain barely keeps pace with inflation. For buyers, that’s good news: Florence isn’t pricing itself out of reach. For sellers, it means equity gains are slow.

Compared to the state’s hotter markets, Florence is a different story. Charleston and Mount Pleasant carry medians two to three times higher. Columbia, two hours west, sits well above Florence’s price point. If you want South Carolina without the coastal premium, Florence is one of the few cities where a median-priced home stays below $210K.

The price floor of $144,500 is particularly notable. You won’t find that number in many U.S. cities anymore, let alone a state capital’s neighbor.

Florence Home Prices by Neighborhood

Three ZIP codes tell the story. The table below ranks them from most to least expensive.

Most Expensive

29501 tops the list at $237,866, about 16% above the city median. Despite holding the highest home values, its rent is actually lower than 29505 — suggesting more owner-occupied housing and older long-term residents.

29505 sits at $230,807 with the highest rents in the city at $1,413 per month. The rent-to-price ratio here is stronger, which matters for investors running the numbers.

Most Affordable

29506 is the clear bargain at $144,500 — 29% under the city average. It’s the cheapest tracked ZIP in Florence and one of the more affordable ZIPs in the entire state. No rent data is published for this area yet, which often indicates a smaller rental market.

Rent vs Buy in Florence

Rents in Florence range from $1,283 in 29501 to $1,413 in 29505. The weighted average is close to $1,350 per month.

Now the buy side. Take the $204,391 median home. Put 20% down ($40,878). Finance the remaining $163,513 at 7% over 30 years. That’s a monthly principal-and-interest payment of about $1,088.

Add the rest:

Monthly costs are close to even. Buying beats renting by about $57 per month — before factoring in maintenance and the $40K down payment tied up in the house.

Renting wins if you need flexibility or can invest that down payment elsewhere. Buying wins if you plan to stay five years or longer, because 1.8% annual appreciation on $204K adds roughly $3,700 to your equity per year, plus mortgage principal paydown.

At these price points, the math is unusually close. In cities with steeper prices, buying often costs $500 to $1,000 more per month than renting. Florence doesn’t punish buyers that way.

Population Growth and Migration

Florence is growing, but slowly.

The city added 827 residents in four years — a 2.1% gain. That’s modest growth. For context, here’s how Florence compares to other South Carolina cities:

Florence’s growth rate runs about a third of what the Charleston metro area is posting. Lower population pressure means less competition for housing, which helps explain why prices are up only 1.8% while coastal metros see stronger appreciation.

For buyers, slow growth is a mixed signal. Demand stays manageable and bidding wars are rarer. For long-term investors, the flip side is that your equity grows at the pace of a savings account, not a stock.

Florence Housing Market Trends

Twelve months of data show a steady, slow climb.

The pattern is notable. From March through June 2025, prices drifted slightly down — a $133 dip over four months. Then the floor held, and from July onward prices have gained every single month. The past six months added $3,065 in value, roughly $510 per month.

Over the full 12 months, Florence gained $3,595. Most of that came in the second half. Momentum is accelerating, not flat.

The price floor (cheapest tracked home in any ZIP) tells a different story. It fell from $148,793 in March 2025 to $144,500 in February 2026 — a $4,293 drop. Lower-end homes are losing value while mid and upper ZIPs gain. That widening gap is worth watching.

Is Florence a Good Place to Buy in 2026?

The data points to a balanced market with buyer-friendly pricing.

Affordability is the headline. A $204K median is 40-50% below the national average. Monthly carrying costs land close to rent, which is unusual. If you want to stop renting and build equity, Florence is one of the easier U.S. markets to do it in.

The growth picture is honest. A 2.1% four-year population gain means housing demand isn’t exploding. Don’t buy here expecting coastal-style appreciation. The 1.8% annual price gain is closer to what you should plan for.

The neighborhood gap matters. 29506 at $144K versus 29501 at $238K is a $93K spread. That’s opportunity for buyers willing to research school districts, commute times, and long-term neighborhood trends. The cheapest ZIP isn’t cheap by accident.

Best case: first-time buyers, remote workers, or retirees wanting low carrying costs. Toughest case: investors chasing price appreciation.

Florence Housing Market Outlook for 2026-2027

The 3-month trend suggests continued upward movement. Prices gained $1,476 between December 2025 and February 2026. If the current pace continues, Florence should see small monthly gains through the spring.

The 6-month acceleration is the key signal. The second half of 2025 added more value than the first half, reversing a brief soft patch. That’s not the pattern of a market about to decline.

Rents near $1,400 per month support current price levels. The rent-to-price ratios in both tracked ZIPs remain favorable for landlords, which keeps investor demand steady.

Watch the cheapest ZIP. If 29506 keeps falling while 29501 and 29505 climb, the city is splitting into two markets. That’s a risk for entry-level buyers if it continues.

Absent a national shock, Florence looks set for modest 2026-2027 gains — likely in the same 1-3% annual range the data has shown.

Similar Markets in SC

If Florence’s numbers interest you, here are other South Carolina cities worth comparing:

• Columbia — South Carolina’s capital, two hours west, with more urban amenities and a higher price point.
• Aiken — Similar small-city feel with comparable affordability.
• Spartanburg — Upstate option with faster growth tied to BMW and regional manufacturing.
• Anderson — Another affordable Upstate market with similar price bands to Florence.
• Myrtle Beach — Coastal option for buyers who want beach access and are willing to pay more.

Frequently Asked Questions

What is the average home price in Florence?

The average home price in Florence, SC is $204,391 as of February 2026. Values range from $144,500 in ZIP 29506 to $237,866 in ZIP 29501.

Are home prices going up or down in Florence?

Prices are up 1.8% year over year. The gain came mostly in the second half of 2025, with values rising every month from July 2025 through February 2026.

Is it cheaper to rent or buy in Florence?

Buying costs roughly $57 less per month than renting at current prices, assuming 20% down and a 7% mortgage rate. Rent runs $1,283 to $1,413 per month; total monthly ownership cost is about $1,293 on a median-priced home.

What is the most affordable neighborhood in Florence?

ZIP 29506 is the cheapest at $144,500 — 29% below the city median. No rent data is currently published for that ZIP, which usually indicates a smaller rental market.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.