Rent to own Homes in Florence, SC
Dating back to 1871, Florence is a city with a population of 37,326 according on the 2010 US Census. Serving as Florence County's seat, Florence is also the heart of Pee Dee, a region of South Carolina full of history and tourist attractions. The city was a source of supplies and railroad maintenance during the Civil War. Florence has also been home to many famous people, including celebrity Mark L. Walberg and NASCAR driver Buddy Baker.
Florence, SC is a great place for affordable rent-to-own homes! With a median household income of over $51,073 and a median rent of $776, the Florence, SC rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Florence, SC. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Florence, SC
Neighborhoods in Florence, SC
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29504 rent to own homes 29502 rent to own homes 29501 rent to own homesBuying a Home in Florence, SC
Florence, SC is seeing rapid growth and Florence, SC's' housing market remains optimal with an average home price that is -29% below the 2024 national average. Florence, SC is part of Florence county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Florence is 0.43% which is below the national average, which is 0.99%.
Median Home Price in Florence, SC
Median Rent in Florence, SC
Top 3 Reasons to Live in Florence, South Carolina
Affordable housing options! Those looking for a house for sale will find median prices nearly 20 percent lower than the nation's average. Though there are many attractive neighborhoods in Florence, City Center, Muldrow Mill, and Ebenezer are some of the most popular. City Center has a vacancy rate of about 23 percent, Muldrow Mill has a vacancy rate of about 4 percent, and Ebenezer's vacancy rate hovers around the 15 percent mark. Florence is nearly 40 percent renter occupied.
Art and cultural attractions! Art and culture thrive in Florence, and the downtown area especially stands out with many interesting places to visit. The Florence Museum of Art, Science, and History exhibits the work of community and regional craftsmen and artists. You will also find Native American pottery works and artifacts from the Civil War. Francis Marion University 's Performing Arts Center puts on a number of theatrical performances each year. The area also features Florence Symphony Orchestra with musical performances throughout the year. For those interested in history, the Florence Stockade, Florence Veterans Park, and War Between the States Museum provide an abundance of information to absorb.
Low cost of living! Florence has a cost of living almost 9 percent lower than the United States average and about 3 percent lower than the average in the state of South Carolina. Those looking for rent to own homes will be pleased to find rental housing rates extremely reasonable. The Oakland Ave and Maxwell St area is particularly reasonable, with some of the lowest average monthly rents in town. Rents in the Hoffmeyer Crossroads area average about 47 percent lower than in South Carolina's overall, freeing up more money for entertainment. Single-family homes and townhomes dominate the rental market in Hoffmeyer Crossroads, while Oakland Ave and Maxwell St has more apartment buildings to offer.