The Florence housing market anchors the Pee Dee region in northeastern South Carolina, a regional commercial and medical hub at the I-20/I-95 intersection that serves Darlington, Marion, and surrounding rural counties. Median home prices average around $215,000, making Florence one of South Carolina's most affordable mid-sized cities for first-time buyers and investors. The economy runs on McLeod Health (one of Florence's largest employers), a concentration of manufacturing and distribution along I-95, and Francis Marion University, which generates consistent housing demand from students, faculty, and university staff.
Florence neighborhoods and investment data
West Florence and the areas near McLeod Regional Medical Center offer professional-oriented single-family homes from $220,000 to $380,000 popular with medical staff and established families. Southside Florence and the Ebenezer Road corridor carry entry-level inventory from $160,000 to $280,000 attractive to investors. Rental yields of 7-11% are achievable on single-family and small multi-unit properties, with vacancy rates of 5-7% reflecting moderate but consistent renter demand. Francis Marion University's off-campus rental market adds supplemental demand near the university's US-301 corridor location.
Florence property taxes average 0.45-0.6% effective for owner-occupants under SC's 4% primary assessment ratio, competitive even by South Carolina standards. SC Housing programs assist first-time buyers statewide. Renovation costs average $50 - $85 per square foot, among the most cost-effective in the state for investor rehab projects. Buyers should note Florence's I-95 corridor position as a positive: the interstate gives the regional economy resilience through distribution, hospitality, and retail sectors that operate independently of coastal and Upstate market cycles.
