Why Are Home Prices So High in Florence, SC? What the Data Says About Local Workers

Florence home prices have climbed faster than the national average since 2019, but the sources disagree on how much they rose in the past year. Redfin puts the city's median sale price at $254,292 for April 2026, about 70% above April 2019, compared with about 55% nationally. The City of Florence's own housing study says the city likely needs 7,000 more housing units over five years, and Mayor Lethonia Barnes says prices have outpaced what many local workers can afford. A one-bedroom apartment rents for roughly $1,030 to $1,187 depending on the source, which is about 22% to 25% of the city's median household income. We checked every figure below against its source on October 28, 2026.

How much have Florence home prices actually risen?

It depends on which source you read. These figures measure different things, over different periods, so they should not be treated as one number.

Redfin's sale-price figures and the federal index point in the same direction but differ widely on the one-year change, from about 3% to about 17%. Monthly sale figures in a market this size can swing on a small number of sales, and the Pee Dee REALTORS report itself cautions that percent changes can look extreme with small samples.

The longer view is clearer. Redfin's data shows the median sale price at about $149,900 in April 2019 and $254,292 in April 2026, a rise of about 70%. Over the same period Redfin shows the national median going from $255,000 to $396,173, a rise of about 55%.

Entry-level homes sell for less. Redfin's January 2026 data put the median sale price of "starter" homes, the 5th to 35th percentile of sales, at $169,370, and the middle tier at $250,000.

Can a household earning the Florence median afford to rent or buy?

The Census Bureau's 2024 American Community Survey puts the median household income in the city of Florence at $56,143, with a margin of error of about $3,854. About 18.9% of residents live below the poverty line. Redfin used a different figure, $60,186, on its January 2026 housing page.

Buying. At $56,143, the April 2026 median sale price of $254,292 is about 4.5 times annual income. Using Redfin's $60,186 income figure, it is about 4.2 times. We did not find a same-source national or state ratio, so we do not claim Florence is unusual on this measure.

Renting. One-bedroom apartment rents run about $1,030 (Rentometer's median for April 2026, with a range of $895 to $1,700) to $1,187 (RentCafe's average for larger buildings, June 2026). Trulia listed $1,050 in August 2026. Against a monthly median household income of about $4,679, that is about 22% to 25%. The average apartment across all sizes was $1,266 in RentCafe's data, up 5.4% from $1,201 a year earlier.

Both comparisons use the median for all households. Renter households usually earn less than owner households, and we did not obtain a current Florence renter-income figure. A household at the median can look comfortable on paper while a first-time buyer, a new graduate or a single earner is not.

What is the City of Florence doing about it?

• New homes in historic districts. The city is working with the Housing Authority of Florence and community members to build affordable homes. WMBF reported on August 5, 2026 that the city has built more than 40 new homes, recently bought 17 more properties, and expects construction to begin soon. Housing Authority Executive Director Alphonso Bradley said the work is bringing people back to those neighborhoods.
• Down payment help. The city's First-Time Homebuyers Program offers income-eligible buyers up to $30,000 in down payment and closing cost assistance. The number to call is (843) 665-3175.
• Zoning and developer support. Moore said the city is considering higher allowed densities, townhomes in more zones, and a developer training course on the unified development code.

Mayor Barnes told WMBF that the program is meant to keep teachers, police officers and first responders able to live in the city. In her words, "the prices are through the roof."

How we got here

What this does not say

There is no single home price. The figures above come from different sources, periods and definitions. We list them side by side instead of choosing the largest jump.

The Mayor's statement is an assessment, not a measurement. Barnes named teachers, police officers, first responders and recent college graduates. We did not find a comparison of local salaries for those jobs against local home prices, so this article does not say what share of them can afford to buy.

The 7,000-unit figure is an estimate. Moore said housing needs can change quickly. A nationwide economic downturn could reduce the need, and it could just as easily grow. SCNow also reported that Bowen National Research, which conducted the city's study, found a five-year affordable housing gap of 6,016 units, made up of 2,928 rental units and 3,088 owner-occupied units. That figure and the 7,000 appear to measure different things, and we have not seen the full study, so we do not combine them.

Quick answers

What we're still chasing

• The full Bowen National Research study. We have the 7,000-unit figure from The Post and Courier and the 6,016-unit figure from SCNow, and we want the study itself to see how they relate.
• Local pay against local prices. We want published salary schedules for Florence teachers and police officers to compare with the price data.
• An updated infill home count. The city reports more than 40 homes built and 17 properties acquired as of August 2026. We want current numbers and a start date for construction.
• A current renter-income figure for Florence.
• A first-time buyer or renter willing to share their experience.

If you have a source or a correction, send it to HelloFlorenceSC and we will check it and update this page.

Sources

Checked October 28, 2026.

• The Post and Courier: This SC city may need 7K more housing units in the next 5 years (March 26, 2026)
• WMBF: Florence builds new homes for workers priced out of the housing market (August 5, 2026)
• City of Florence: First-Time Homebuyers Program
• City of Florence: Quality Affordable Housing
• City of Florence: Housing Needs Assessment survey announcement (August 13, 2025)
• Redfin via Stacker: What's happening with house prices in Florence, South Carolina in 2026 (April 30, 2026)
• Redfin via Stacker: Are home prices going up in Florence, South Carolina in 2026 (May 26, 2026)
• Redfin via Stacker: How much does it cost to buy a house in Florence, South Carolina in 2026 (February 23, 2026)
• Zillow via Stacker: Cities with the most expensive homes in the Florence, South Carolina metro area (July 21, 2026)
• Pee Dee REALTORS Association: Local Market Update, December 2025
• FHFA All-Transactions House Price Index for Florence, SC (MSA), via FRED
• Census ACS 2024 via DataUSA: Florence, SC
• RentCafe: Florence, SC rental market trends (June 2, 2026)
• Rentometer: Average rent in Florence, SC (data as of April 25, 2026)
• Trulia: Average rent and market trends in Florence, SC (August 2026)
• SCNow: Study: Florence needs thousands more homes (e-edition page, subscription required)