Total monthly cost of ownership
Cost to Own a Home in Florence, South Carolina
A $190,000 home here costs
$1,510per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $977. The real number is $533 higher every month — 55% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Florence against Florence County and South Carolina
| Measure | Florence | Florence County |
|---|---|---|
| Median home value | $189,800 | $165,500 |
| Median property tax | $838 | $724 |
| Effective tax rate | 0.442% | 0.437% |
| Median gross rent | $922 | $908 |
| Population | 40,205 | 136,921 |
The weather behind that power bill
Florence sits in Florence County, which averages a high of 92.0°F in its hottest month and a low of 36.0°F in its coldest, with 45.3" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 2,257 cooling and 2,334 heating degree days, which is what sets the $145 electricity line above.
See the full climate breakdown for Florence County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Florence County
Full Florence County cost breakdown · Every county in South Carolina
Common questions
How much does it cost to own a home in Florence?
A $190,000 home in Florence, South Carolina costs approximately $1,510 per month with 20% down at 6.66%. That is $977 principal and interest, $70 property tax, $92 homeowners insurance, $213 utilities and $158 set aside for maintenance.
What is the property tax rate in Florence?
Florence has an effective property tax rate of 0.442%, based on a median home value of $189,800 and median real estate taxes of $838. That is in line with the Florence County average of 0.437%.
What is the average home price in Florence?
The median owner-occupied home value in Florence, South Carolina is $189,800, against $165,500 across Florence County.
Is it cheaper to rent or buy in Florence?
Median gross rent in Florence is $922 a month, against $1,510 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Florence — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for South Carolina.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.