Florence, SC
Population 40,205 · South Carolina
About Florence, SC
Florence is a mid-sized city located in South Carolina with a population of 40,205 residents according to the latest US Census Bureau American Community Survey data. The median household income is $56,433 per year, which is 25% below the national median of $75,149. The median age of 37.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Florence features a median home value of $189,800, which is 22% below the national median of $244,900. This positions Florence in a moderately priced market relative to the rest of the country. Median monthly rent is $922, 21% below the national average of $1,163/month. Of the 19,244 total housing units, 60% are owner-occupied (9,822 units) and 40% are renter-occupied (6,628 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Florence shows an unemployment rate of 5.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 18.1%, above the national average of 12.4%. Workers in Florence have an average one-way commute time of 18.7 minutes, one of the shorter commutes in the region.
Education & Demographics
29.9% of Florence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.8% White, 0.6% Hispanic or Latino, 1.1% Black or African American, and 1.0% Asian residents, with 4.0% of the population being foreign-born.
How Florence Ranks in South Carolina
Cost of Living in Florence, SC
Compared to national averages, Florence has a median household income of $56,433 (25% below the national median of $75,149). Home values average $189,800, which is 22% below the national median. Monthly rent at $922 is 21% below the US average of $1,163. Within South Carolina, Florence's income is 4% below the state average of $58,738, and home values are 6% below the state median of $202,187.
Why Live in Florence, SC?
Florence offers affordable housing with a median home value of $189,800, below the US average of $244,900, and rent that’s lower than the national average at $922/month, and short commute times averaging just 18.7 minutes.
Potential considerations include median household income ($56,433) that falls below the national average. However, Florence’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Florence has a population of 40,205 with a median age of 37.6 years. Compare Florence with other cities to see how it stacks up, or explore all cities in South Carolina.
Similar Cities Near Florence
Cities in South Carolina with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Greer | 39,191 | $80,030 | $264,300 | Compare |
| Spartanburg | 38,578 | $51,193 | $185,300 | Compare |
| Hilton Head Island | 37,805 | $96,715 | $652,100 | Compare |
| Sumter | 43,065 | $53,071 | $188,400 | Compare |
| Myrtle Beach | 37,214 | $53,679 | $347,700 | Compare |
| Goose Creek | 46,964 | $87,437 | $279,500 | Compare |
| Aiken | 32,334 | $69,837 | $261,800 | Compare |
| Bluffton | 31,323 | $105,463 | $444,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in South Carolina
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Florence With Other Cities
Frequently Asked Questions about Florence
What is the population of Florence, SC?
The population of Florence, SC is 40,205 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in South Carolina.
What is the median household income in Florence?
The median household income in Florence, SC is $56,433 per year, which is 25% below the national median of $75,149.
What is the median home value in Florence?
The median home value in Florence, SC is $189,800, which is 22% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Florence?
The median monthly rent in Florence, SC is $922, which is 21% below the national average of $1,163/month.
What is the unemployment rate in Florence?
The unemployment rate in Florence, SC is 5.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Florence, SC a good place to live?
Florence offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 40,205 and a median age of 37.6, the city appeals to a broad range of residents.
How educated is Florence, SC?
29.9% of residents in Florence aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Florence?
Key cost-of-living indicators for Florence, SC: median home value is $189,800 (22% below national), median rent is $922/month, and median household income is $56,433. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Florence?
The poverty rate in Florence, SC is 18.1%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Florence, SC?
Florence's population is 0.8% White, 0.6% Hispanic or Latino, 1.1% Black or African American, 1.0% Asian, and 49.5% two or more races. 4.0% of residents are foreign-born.