Cost of Living in Florence, SC (2026) – Salary Needed & Budget Calculator

Cost of Living in Florence, SC (2026): The Hub City of the Pee Dee

Florence, South Carolina — the commercial, medical, and transportation hub of the Pee Dee region of northeastern South Carolina — has been quietly building an impressive economic and quality-of-life profile throughout the 2020s. With a population of approximately 40,000 (metro: 210,000+), Florence sits at the critical intersection of I-95 and I-20, making it one of the most strategically located cities in the Southeast United States. In 2026, its strong healthcare economy, low cost of living, and improving downtown cultural scene are attracting new residents from both coastal South Carolina cities and the Northeast corridor.

🏠 Housing Market in Florence, SC (2026)

Florence offers compelling housing value in a region experiencing steady growth. Median 1-bedroom rents average approximately $900–$1,150 per month, while 2-bedroom units range from $1,100–$1,450. The median home sale price is approximately $195,000–$235,000 (Redfin, 2026). Established neighborhoods like Vintage Place and the Hoffmeyer Road corridor offer well-maintained suburban homes with spacious lots. For buyers seeking historic character, the West Evans Street area near the downtown corridor contains beautiful early 20th-century homes at very accessible prices. The West Florence growth corridor continues to see new construction of single-family homes in planned communities.

💰 South Carolina Taxes

South Carolina has progressively reduced its income tax burden, with rates scheduled to reach a flat 6.0–6.5% structure by 2026 through ongoing legislative reform. The state offers a generous retirement income deduction — up to $15,000 of retirement income is exempt for residents over 65, making Florence particularly appealing to retirees. The combined state and local sales tax is approximately 8.0%. Property taxes in Florence County average an effective rate of approximately 0.53% for owner-occupied homes, among the lowest in the Southeast — thanks to South Carolina's Legal Residence exemption which significantly reduces the assessed value for primary homeowners.

🏥 Healthcare Economy

Florence's most important economic anchor is its outsized healthcare sector. McLeod Regional Medical Center is a Level I Trauma Center and one of the largest employers in the Pee Dee region, employing over 4,500 people. Carolinas Hospital System provides additional healthcare employment and capacity. Together these systems have made Florence a genuine regional medical hub drawing patients from six surrounding counties. Francis Marion University provides educational anchoring and feeds a pipeline of healthcare, education, and business graduates into the local workforce.

🚚 Logistics Hub Advantage

Florence's location at the I-95/I-20 interchange — the most trafficked highway corridor on the East Coast — creates a natural advantage for logistics, distribution, and light manufacturing. Major distribution and warehousing operations have been attracted by the city's highway access, competitive land costs, and proximity to the Port of Charleston (2 hours south). Florence Regional Airport (FLO) offers regional air service connections.

✅ Bottom Line

Florence, SC is a city that quietly delivers: affordable housing, low property taxes, strong healthcare employment, and a strategic location that supports logistics careers. For retirees, healthcare professionals, and remote workers seeking a low-cost Southeast lifestyle with small-city charm, Florence represents a genuinely underrated 2026 opportunity.