Florence County Real Estate and Livability Trends
Florence County, South Carolina's real estate market offers intriguing dynamics with a gradual rise in average taxable income per tax return from $46,602.05 in 2013 to $61,990.61 by 2021, hinting at potential economic growth. Property values appear relatively budget-friendly, with median home values increasing from $122,200 in 2015 to $157,400 in 2022, appealing to cost-sensitive buyers. Despite... Read more
Florence County Market Trends
Median home values in Florence County, South Carolina have climbed from $122,200 in 2015 to $157,400 in 2022, showing slower growth compared to the state and national averages, making Florence County a potentially attractive spot for budget-conscious buyers. Residential energy tax credits peaked notably in 2018 at $2640.00 but have since settled around $1800.00, offering insights for those eyeing... Read more
Median Value of Occupied Housing Units in Florence County, South Carolina Over the Last 8 Years
Median home values in Florence County, South Carolina have been consistently on the rise over the past eight years, climbing from $122,200 in 2015 to $157,400 in 2022. This local growth trend, while significant, remains somewhat conservative compared to the broader state of South Carolina, where values jumped from $139,900 to $216,200 in the same period. When viewed against the national trend, where values rose from $125,500 to $179,400, Florence County's housing market still presents a relatively more affordable option, making it potentially appealing for those looking to invest in or move to the area.
Residential Energy Tax Credit Per Tax Return in Florence County, SC Over the Last 9 Years
Over the past nine years, Florence County, South Carolina has seen varying trends in residential energy tax credits per tax return, peaking significantly in 2018 at $2640.00. While the year 2017 saw a considerable rise to $1226.56, this growth appears to have stabilized somewhat, with the figures hovering around $1800.00 in 2020 and 2021. This fluctuating pattern may be of interest to those looking to invest in energy-efficient technologies or considering the potential returns on residential energy efficiency improvements in the area.
Average Real Estate Taxes Per Tax Return in Florence County, SC Over the Last 10 Years
Over the last decade, Florence County, South Carolina has seen a notable uptrend in average real estate taxes per tax return. Starting at approximately $1305.32 in 2012, the figures steadily climbed with a significant spike in 2018, reaching about $2435.96, and peaking at $2621.94 in 2020. These increases may indicate rising property values or changes in the tax rate, which might interest real estate investors, insurance agents, and potential homeowners looking to understand the evolving financial landscape of the county.
Percentage of Farm Returns in Florence County, SC Over the Last 10 Years
Over the past decade, the percentage of farm returns in Florence County, South Carolina has shown a general decline. Beginning at 1.23% in 2012, the figure fluctuated slightly but consistently trended downwards, reaching approximately 0.85% by 2021. Farm tax returns, in this context, refer to the tax filings made by farm owners or operators that declare income from agricultural activities. This declining trend might suggest shifting land use, urban development, or changes in the farming economy, which could be crucial for potential investors, new residents, or developers to consider when evaluating the economic landscape and opportunities in Florence County.
Number of Mortgages by Occupancy Type in Florence County, SC Over the Last 5 Years in Florence County
Florence County, South Carolina, has shown varying trends in mortgage numbers across different occupancy types over the last five years. Principal residences have consistently dominated the mortgage landscape, reflecting stable demand for primary homes, peaking significantly in 2021. Investment properties and second residences indicate more modest and fluctuating figures, with investment property mortgages showing a minor decline in recent years. These shifts in mortgage types can be pivotal for investors as a high number of principal residence mortgages might signal a robust, stable market with potentially lower risks, whereas fluctuations in investment property mortgages could suggest variable market conditions that might impact rental demand and property appreciation. Appraisers and insurance agents might find the trends valuable for assessing property values and risk profiles, respectively. Real estate agents and builders could leverage this data to align their strategies with market demand, potentially focusing more on primary residential developments.
Economic Outlook
Florence County, South Carolina's real estate landscape has been influenced by a gradual rise in average taxable income per tax return, jumping from $46,602.05 in 2013 to $61,990.61 by 2021, indicating potential economic growth. Notably, state and local income taxes have doubled, reflecting increased income levels that may boost property values. The average total tax liability also increased steadily, suggesting either higher incomes or property values, drawing interest from investors and... Read more
Average Taxable Income per Tax Return in Florence County, SC over the last 9 years
Florence County, South Carolina has seen a gradual increase in average taxable income per tax return over the past nine years, rising from approximately $46,602.05 in 2013 to around $61,990.61 by 2021. Notably, the most significant jumps occurred between 2018 and 2021, suggesting possible economic growth or shifts in the local job market. This trend may be of interest to investors, appraisers, and real estate agents as higher average incomes often correlate with increased property values and a stronger local economy, making Florence County a potentially lucrative area for development and investment.
Average State and Local Income Taxes Per Tax Return in Florence County, SC Over the Last 10 Years
Florence County, South Carolina has seen a notable upward trend in average state and local income taxes per tax return over the last 10 years. Starting in 2012 at $6,101.63, it climbed steadily, peaking sharply in recent years to $12,348.49 in 2021. Investors and real estate agents might find this trend indicative of rising income levels, impacting property values and market dynamics. For insurance agents and appraisers, this could suggest a shift in the economic landscape, influencing coverage needs and valuation metrics. Potential residents or builders might view these increases as reflecting broader economic growth in the county.
Average Total Tax Liability Per Tax Return in Florence County, SC Over the Last 10 Years
Over the past decade, Florence County, South Carolina, has seen a noticeable upward trend in the average total tax liability per tax return. Starting at around $7,600.67 in 2012, the amount gradually increased almost every year, reaching over $10,540.31 by 2021. This steady rise in tax liability per return could signal an overall increase in either income levels or property values, both of which may be attractive indicators for potential investors, real estate agents, and those looking to build or move to the area. For appraisers and insurance agents, these trends could suggest a shifting economic landscape that might influence property appraisals and insurance rates.
Cost of Living in Florence County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,173 | $1,379 | $1,876 | $1,250 | $1,062 |
| 1 adult 4 children | $1,173 | $1,126 | $1,434 | $1,250 | $1,179 |
| 2 adults 3 children | $1,173 | $1,127 | $1,628 | $1,250 | $854 |
| 1 adult 3 children | $1,173 | $920 | $1,186 | $1,250 | $945 |
| 2 adults 2 children | $927 | $922 | $1,380 | $1,127 | $748 |
| 1 adult 2 children | $927 | $689 | $938 | $1,127 | $690 |
| 2 adults 1 child | $927 | $729 | $1,132 | $730 | $721 |
| 1 adult 1 child | $927 | $471 | $690 | $730 | $618 |
| 2 adults | $706 | $586 | $884 | $0 | $568 |
| 1 adult | $701 | $319 | $442 | $0 | $537 |
Safety trends & Data
Florence County, South Carolina has experienced fluctuating property crime rates over the past five years, particularly in incidents of larceny and theft, which peaked at 735.00 in 2019 but have since declined. Burglary cases have shown a notable decrease from 169.00 in 2018 to 71.00 in 2021, while motor vehicle thefts have remained relatively lower. However, a slight increase in vandalism incidents may raise concerns about community safety and property maintenance. These trends could influence... Read more
Property Crime Trends in Florence County, SC Over the Last 5 Years
Over the last five years, Florence County, South Carolina has seen fluctuating property crime rates. Notably, incidents of larceny and theft have remained relatively high, peaking at 735.00 in 2019 but showing some decline since then. Burglary cases have decreased significantly from 169.00 in 2018 to 71.00 in 2021. Motor vehicle thefts have varied but generally stayed lower compared to other property crimes. Vandalism incidents have slightly increased, indicating potential concerns for community property maintenance and safety. These trends may affect property values and insurance rates, providing crucial insights for investors, real estate agents, and potential residents.
Demographics
Florence County, South Carolina shows a slight female majority in its adult population, which could imply a gender-specific demand in services and community programs. The educational attainment data suggests a significant portion of residents have either high school diplomas or some college education, implying a workforce with moderate educational levels. The age distribution reveals a substantial number of individuals in the 25 to 54 age bracket, likely indicating a robust working-age... Read more
Race Distribution in Florence County, South Carolina (2022)
Educational Attainment in Florence County, South Carolina (2022)
Age Distribution in Florence County, South Carolina
Citizen Population in Florence County, South Carolina (2022)
Political Trends & Data
Florence County, South Carolina's 2020 presidential election results may indicate a tight race. Republicans potentially hold a slight lead with 50.6% of the vote, while Democrats likely follow closely at 48.3%. Libertarians and Greens, each receiving less than 1%, suggest the area's political landscape is predominantly a two-party system, with minimal influence from third... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Florence County, South Carolina's 2020 presidential election results show a tight race between the Republican and Democrat parties, with Republicans possibly holding a slight lead at 50.6% compared to 48.3% for Democrats. Libertarians and Greens each received less than 1% of the vote, reflecting a limited presence of these parties locally. These figures suggest a predominantly two-party system with minimal impact from third parties.
50.56% of voters voted for the Republican party in the 2020 Presidential Election
48.29% of voters voted for the Democrat party in the 2020 Presidential Election
0.78% of voters voted for the Livertarian party in the 2020 Presidential Election
0.30% of voters voted for the Green party in the 2020 Presidential Election
0.07% of voters voted for the Other party in the 2020 Presidential Election
School Data
Florence County, South Carolina's student-to-teacher ratio has seen notable shifts, from a high of 16 students per teacher in 2019 down to 13 in 2023. These fluctuations hover around the national average but often fall below in recent years. This could indicate shifts in local funding and hiring practices, impacting property values and market appeal as lower ratios tend to suggest better educational quality. For real estate agents and appraisers, these trends may influence property... Read more
Student-to-teacher ratio in Florence County, South Carolina over the last 10 years
Florence County, South Carolina has seen fluctuations in its student-to-teacher ratio over the last decade, with a notable spike in 2019 reaching 16 students per teacher, followed by a gradual decrease to 13 in 2023. The county's ratio trends around the national average of 14 students per teacher but often dips below, especially in recent years. This variability might suggest changes in local funding, teacher hiring practices, or student enrollment. Such trends could influence decisions for those planning to invest in the area, as a lower student-to-teacher ratio often correlates with better individualized attention in education. For real estate agents and appraisers, these figures can impact property values and market appeal, while insurance agents might also consider the quality of education as a factor in assessing risk and determining rates.
