Page 26 - Florence County, SC Florence County 2032: Connecting Our Past, Defining Our Future

Existing County | Housing

Median Home Value

$134,300
(Owner-Occupied Units)

In 2019, the median home value of owner-occupied housing units (non-rental) in Florence County was $134,300.
This is lower than that of the State of South Carolina at $179,800, but higher than any other adjacent county by a
significant margin.

The median value of owner-occupied homes increased by $22,400 from the 2010 median of $111,900 in Florence
County. Early engagement discussions for this plan indicated that both housing prices and land costs have been
rising in recent years. This can present a challenge for maintaining existing housing and attracting new
construction that is attainable for different segments of the population.

65 Percent of Housing Units
are Owner-Occupied

The percentage of housing units in Florence County that were owner-occupied as of 2019 (65 percent) is slightly
less than that of the State of South Carolina (70 percent). The percentage of housing units in Florence County that
are renter-occupied is higher than the share of the housing stock that is composed of multi-family units. This
indicates that renting is also occurring within single-family detached homes or another product, including
manufactured housing. The chart below depicts the types of housing in 2019. Townhouses in Florence County
are booming. Many have recently been completed and they are increasing in popularity. This trend will affect
the figures below when Florence County undergoes a 5 year plan update. Not only will Florence County be
affected, but also other locations within the region, state, and nation as developable land becomes scarce,
maintenance costs of land increase, amenities become more and more important to residents, the population
ages, and energy efficient homes are increase in demand.

Florence County, SC | Comprehensive Plan pg. 25