Average Rent in Florence, SC↑ Rents rising 5.2% YoY

Florence, SC has rental prices ranging from $857/month to $1,461/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $862/month — 38% below the national average of $1,400/month. With a median household income of $53,874/year, spending $862/month on a 1-bedroom represents 19% of gross income — within the recommended 30% threshold.

How Florence Compares

With an average 2-bedroom rent of $1,065/month, Florence ranks #11 most expensive of the 38 cities tracked in South Carolina — pricier than 72% of all US cities in our data.

The Florence Rental Market

The Florence, SC area has a population of about 199,675 and 34% of households renting rather than owning. That is close to the US average renter share of ~34%.

Rent Trends

2-bedroom rents in Florence, SC have risen by $53/month (5.2%) over the past year, from $1,012 to $1,065. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Florence, SC without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $34,480. The local median household income of $53,874 exceeds that threshold by $19,394, making Florence relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Florence, SC is $223,270, giving a price-to-rent ratio of 17.5. With a break-even horizon of approximately 17 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Florence, SC Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Florence?

Break-even analysis and mortgage estimates based on local market data.

Living in Florence

Cost of living, job market, crime rates, and moving cost estimates.