Last updated: September 2025
Quick answer
The Florence, SC housing market offers exceptional affordability for homebuyers in 2025, with median home prices around $270,000, making it easy to buy a home in Florence, SC.
USDA loans with zero down for qualifying areas, FHA loans with 3.5% down, and South Carolina DPA programs provide up to $8,000 in down payment assistance through SC Housing, creating accessible homeownership in this buyer-friendly Pee Dee region market with an average market time of 25-35 days.
Whether you’re a first-time buyer, young family, or someone seeking to stretch your housing dollar further, understanding how to buy a home in Florence, SC, with the right financing strategy can put homeownership within reach this year.
Get pre-approved for purchase with GO Mortgage.What makes the Florence, SC, housing market so affordable?
Several factors contribute to Florence’s exceptional housing affordability:
- Regional cost advantages: Located in the Pee Dee region, away from major metropolitan price pressures, Florence maintains reasonable housing costs while offering urban amenities and employment opportunities.
- Diverse housing inventory: The market includes everything from starter homes under $120,000 to executive properties under $300,000, providing options across all price ranges and family sizes.
- Economic stability: Anchored by McLeod Health, Florence-Darlington Technical College, and Francis Marion University, the local economy provides steady employment without the speculation that drives up coastal prices.
- Available land and development: Unlike constrained markets, Florence has room for continued residential development, keeping supply adequate to meet demand.
Current market conditions and pricing
As of September 2025, the Florence, SC housing market shows:
- Median home price: $270,000
- Starter homes: $95,000-$140,000
- Move-up properties: $150,000-$225,000
- Executive homes: $250,000-$350,000
- Average days on market: 25-35 days
- Price per square foot: $85-$115
These prices represent genuine affordability compared to state and national averages, making homeownership accessible to moderate-income families.
USDA loan opportunities in Florence County
Many Florence area communities qualify for USDA rural development financing:
USDA loan advantages:
- Zero down payment required
- Below-market interest rates
- No monthly mortgage insurance
- Flexible credit requirements (typically 640+ scores)
- Income limits generous for the area
Eligible areas include:
- Rural Florence County communities
- Surrounding townships and developments
- Properties outside city limits
- Some suburban neighborhoods qualifying as rural
Income limits for USDA:
- Single person: $51,800
- Family of 4: $68,400
- Higher limits for larger families
- Income includes all household members
FHA programs and benefits
FHA loans work exceptionally well in the affordable Florence, SC housing market:
FHA loan benefits:
- Down payment as low as 3.5%
- Credit scores accepted from 580
- Debt-to-income ratios up to 57% with compensating factors
- Gift funds accepted for down payment and closing costs
FHA loan limits:
- Florence County limit: $524,225 (covers most local properties)
- Includes condos and manufactured homes
- New construction eligible
- Assumable loans for future resale advantages
South Carolina DPA programs and assistance
SC Housing offers comprehensive support for first-time buyers:
SC Housing First-Time Homebuyer Programs:
- Palmetto Heroes: Up to $8,000 down payment assistance
- SC Housing Advantage: Below-market interest rates
- Move-Up SC: For repeat buyers trading up
- Teacher Next Door: Special programs for educators
Forgiveness and repayment terms:
- Some assistance loans forgiven after 5-10 years
- Others require repayment only upon sale or refinance
- No monthly payments on assistance loans
- Combines with other loan programs
Eligibility requirements:
- First-time buyer definition (no ownership in 3 years)
- Income limits based on area median income
- Primary residence requirement
- Homebuyer education completion
Conventional 97 and other options
For buyers exceeding FHA or USDA limits:
Conventional 97 benefits:
- Just 3% down payment required
- Higher loan limits than FHA
- Cancellable PMI when reaching 20% equity
- Flexible property types and conditions
Local credit union programs:
- Community-based lending with competitive rates
- Relationship banking advantages
- Local decision-making processes
- Member benefits and services
Reasons to move to Florence
Florence combines small-town charm with big-city amenities, serving as the economic and cultural hub of the Pee Dee region.
The city offers excellent healthcare through the McLeod Health system, quality education from elementary through university level at Francis Marion, and a growing downtown district with restaurants, shops, and entertainment venues.
The area features abundant recreational opportunities, including:
- Nearby state parks
- Golf courses,
- The scenic Lynches River
Florence’s central location provides easy access to both the mountains and coast, with Columbia, Charleston, and Charlotte all within reasonable driving distance.
All this while maintaining a low cost of living that allows families to enjoy a higher quality of life on moderate incomes.
Strategic buying in Florence’s market
The buyer-friendly tempo allows for thoughtful decision-making:
Market timing advantages:
- Less competition than major metropolitan areas
- Time to properly evaluate properties and neighborhoods
- Opportunity to negotiate repairs and improvements
- Seasonal patterns favor patient buyers
Offer strategies:
- Offers at or slightly below asking price often accepted
- Inspection and appraisal contingencies readily included
- Seller concessions common for closing costs
- Flexible closing timelines accommodate all parties
Working with local professionals like GO Mortgage
Success benefits from experienced local guidance:
Lender selection criteria:
- Knowledge of SC Housing programs and requirements
- USDA loan processing experience
- Understanding of local market conditions
- Competitive rates and service quality
Real estate agent advantages:
- Florence market specialization and neighborhood knowledge
- Relationships with local service providers
- Experience with first-time buyer transactions
- Understanding of rural property considerations
Long-term investment potential
The Florence, SC housing market offers solid investment fundamentals:
Economic growth drivers:
- Healthcare sector expansion
- Educational institution stability
- Manufacturing and distribution growth
- Strategic transportation location
Market stability factors:
- Diverse economic base, reducing volatility
- Affordable entry prices with appreciation potential
- Strong rental market for investment properties
- Population growth and retention trends
Florence, SC, housing market FAQs
A: The Florence, SC housing market median price of $165,000 makes it significantly more affordable than state and national averages, with starter homes available under $140,000.
A: To buy a home in Florence, SC, first-time buyers can use USDA zero-down loans, FHA 3.5% down loans, and South Carolina DPA programs providing up to $8,000 assistance.
A: Yes, South Carolina DPA programs have income limits based on area median income, though they’re generous for Florence County, with USDA allowing up to $68,400 for families of four.
A: The Florence, SC housing market shows average days on market of 25-35 days, giving buyers time to make informed decisions without intense competition pressure.
A: Yes, many areas around Florence qualify for USDA loans with zero down payment, below-market rates, and no monthly mortgage insurance for eligible rural properties.
Ready to start your Florence homeownership journey?
The Florence, SC housing market offers an increasingly rare combination of affordability, opportunity, and community that makes homeownership achievable for families across income levels.
With multiple financing programs, reasonable prices, and a buyer-friendly market pace, there’s never been a better time to make your move.
Don’t let this opportunity pass while you wait for perfect conditions
Connect with GO Mortgage to explore USDA loans, FHA programs, and South Carolina DPA options that can help you buy a home in Florence, SC, and start building equity in this welcoming community.