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Florence, SC mortgage & affordability calculator

The typical home in Florence, SC is worth about $220,000. With 20% down that's a loan near $176,000 — the calculator is pre-filled with that figure. Florence sits at the crossroads of Interstates 95 and 20 in South Carolina's Pee Dee region, giving it an outsized logistics and healthcare presence — McLeod Health is one of the area's largest employers — relative to its size. South Carolina's favorable 4% assessment ratio for owner-occupied homes keeps the effective property tax rate low.

$1,142.70 / month

Total interest
$235,375
Total paid
$411,375
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$44k$88k$132k$176k0612182430Year

How much you need to earn

Florence, SC's median household income is about $50,000 a year. Under standard 28/36 lending rules that supports a home price around $179,923 with 20% down — below the $220,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$179,963 max home price

Max loan amount
$135,963
Housing payment budget
$1,167
P&I budget
$883
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Florence, SC is about $1,050 a month, so owning the median home costs roughly $377 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Florence, SC?
On the metro's roughly $220,000 typical home with 20% down, the loan is about $176,000. Principal and interest run near $1,143 a month at today's rate, and Florence, SC's property tax plus insurance add about $284, for a full payment near $1,427.
Can I afford a home in Florence, SC on the median income?
The median household income is about $50,000 a year. Under standard 28/36 lending rules that supports a home price around $179,923 with 20% down — below the $220,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Florence, SC?
Typical asking rent is about $1,050 a month. The full owner payment on a median home is near $1,427, so owning costs roughly $377 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Florence, SC?
The effective property tax rate in the core county is about 0.55% of market value — roughly $1,210 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Florence, SC rising or falling?
Home values are up about 3% over the past year. Florence sits at the crossroads of Interstates 95 and 20 in South Carolina's Pee Dee region, giving it an outsized logistics and healthcare presence — McLeod Health is one of the area's largest employers — relative to its size. South Carolina's favorable 4% assessment ratio for owner-occupied homes keeps the effective property tax rate low.

Nearby metros

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