HomeSouth CarolinaFlorence County
Florence County, South Carolina: commercial real estate data.
Florence County, South Carolina has a population of 137,117 across 800 square miles, up 0.7 percent since the 2020 census base. County output reached $9.98 bn in 2024, 3,282 establishments operate here, and the SBA record carries 67 7(a) approvals worth $54.2 m.
123 sourced county values · tier FULL · 11 sections
Florence County
How many people live in Florence County
- Population137,117
- Households52,856
- Average household size2.59
- Median household income$58,305
- Median age39.4
- Median gross rent$954 per month
- Median owner-occupied home value$177,900
- Home value to household income3.1 times
- Annual rent as a share of median income19.6 percent
- Adults 25 and over with a bachelor degree or higher24.4 percent
- Adults 25 and over with a graduate degree9.9 percent
- Adults 25 and over92,877
- Population under 1832,288
- Share under 1823.5 percent
- Population 65 and over24,807
- Share 65 and over18.1 percent
- Working age population, 18 to 6480,022
- Civilian labor force63,248
- Unemployment rate5.6 percent
- Labor force participation, adults 18 and over60.3 percent
- Rank by population among South Carolina counties13th of 46
- Rank by population among US county-equivalents485th
Florence County is the 13th largest of 46 South Carolina counties by population. A median home costs 3.1 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 23.5 percent against 18.1 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Florence County
Is Florence County growing
- Population change since the 2020 census base0.73 percent
- Census 2020 base population137,046
- Births, 20241,555
- Deaths, 20241,819
- Natural change, 2024-264
- Net domestic migration, 2024527
- Net international migration, 2024325
- Total net migration, 2024852
- Cumulative net domestic migration, 2021 to 20241,882
- Rank by growth among US county-equivalents1582nd
The county has grown 0.73 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Florence County
Where people moving to Florence County come from
- Tax returns filed by households arriving3,102
- People arriving, from those returns5,888
- Adjusted gross income arriving$154.9 m
- Net adjusted gross income movement$0
- Average income of an arriving household$49,937
- Largest single originFlorence County Non-migrants (48,212 households)
- Largest single destination (48,212 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Florence County Non-migrants | 48,212 | 97,803 | $3.32 bn |
| Other flows - Different State | 1,198 | 2,270 | $74.1 m |
| Other flows - South | 661 | 1,221 | $37.5 m |
| Darlington County | 491 | 1,000 | $21.4 m |
| Other flows - Northeast | 258 | 499 | $14.4 m |
| Horry County | 150 | 271 | $7.5 m |
| Williamsburg County | 150 | 303 | $4.7 m |
| Other flows - Same State | 149 | 254 | $6.6 m |
The largest single source of arrivals is Florence County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Florence County
What the Florence County economy runs on
- County GDP, 2024$9.98 bn
- County GDP, 2023$9.37 bn
- GDP change, 2023 to 20246.5 percent
- GDP change over five years34.0 percent
- Rank by GDP among South Carolina counties12th
- Rank by GDP among US county-equivalents439th
- GDP per resident$72,793
Output grew 6.5 percent in the latest year and 34.0 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Florence County
Who employs people in Florence County
- Covered employment, annual average68,848
- Establishments reporting3,740
- Average annual pay$52,861
- Average weekly wage$1,017
- Sector 62, employment9,696
- Sector 62, average annual pay$60,494
- Sector 44-45, employment8,523
- Sector 44-45, average annual pay$34,166
- Sector 31-33, employment7,773
- Sector 31-33, average annual pay$72,258
- Sector 72, employment7,572
- Sector 72, average annual pay$21,517
- Sector 56, employment4,178
- Sector 48-49, employment3,256
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 62 | 9,696 | 551 | $60,494 |
| Sector 44-45 | 8,523 | 677 | $34,166 |
| Sector 31-33 | 7,773 | 147 | $72,258 |
| Sector 72 | 7,572 | 367 | $21,517 |
| Sector 56 | 4,178 | 244 | $35,857 |
| Sector 48-49 | 3,256 | 118 | $44,986 |
| Sector 42 | 2,757 | 164 | $69,592 |
| Sector 54 | 2,132 | 292 | $77,289 |
The largest sector is the biggest private employer group at 9,696 jobs, 14.1 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Florence County
What businesses operate in Florence County
- Establishments, all industries3,282
- Employment at those establishments67,074
- Annual payroll$3.45 bn
- Establishments per 1,000 residents23.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Florence County
What is being built in Florence County
- Housing units authorised by permit, 2024666
- Declared construction value permitted$115.3 m
- Single family units authorised580
- Multifamily units authorised86
- Multifamily share of units12.9 percent
- Average declared value per unit$173,115
- Units authorised per 1,000 households12.6
Multifamily is 12.9 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Florence County
How much SBA lending happens in Florence County
- 7(a) approvals recorded67
- 7(a) gross approval dollars$54.2 m
- Average 7(a) approval$809,173
- Median 7(a) approval$261,000
- 10th percentile approval$15,000
- 90th percentile approval$2,200,000
- Largest single approval$5,000,000
- Jobs reported supported, 7(a)573
- Jobs per approval8.6
- Distinct 7(a) lenders active30
- Distinct industries receiving approvals47
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer26.9 percent
- Loans on real estate terms18
- Loans on working capital terms, 120 months or shorter43
- Franchise loans14
- Franchise share of approvals20.9 percent
- Leading industry by approval countHotels (except Casino Hotels) and Motels (7)
- Most active lenderWells Fargo Bank National Association (9)
- 504 approvals recorded18
- 504 gross approval dollars$9.9 m
- Average 504 approval$551,111
- Median 504 approval$537,000
- Distinct CDCs active3
- 504 jobs per approval15.1
- 504 jobs per million dollars approved27.3
- Most active CDCProvident Business Financial Services, Inc. (14)
- 7(a) share of SBA approvals78.8 percent
- Combined SBA approval dollars$64.1 m
The average approval of $809,173 sits well above the median of $261,000, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 26.9 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Florence County
Do SBA loans in Florence County get paid back
- Loans with a final outcome recorded12
- Paid in full10
- Charged off2
- Charge off rate on resolved loans16.7 percent
- Status: Exempt from disclosure40
- Status: Paid in full10
- Status: Charged off2
- Status: Cancelled12
- Status: Committed, not yet disbursed3
Of the 12 loans that have reached a final outcome, 16.7 percent were charged off. This is computed only over resolved loans, because a loan still running has not yet succeeded or failed and counting it either way would be wrong.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Florence County
Which parts of Florence County get the lending
- Places in the county with recorded lending10
- FLORENCE, approvals55
- EFFINGHAM, approvals2
- TIMMONSVILLE, approvals2
- Lake City, approvals2
- Coward, approvals1
- Quinby, approvals1
| Place | Approvals | Gross approval dollars |
|---|---|---|
| FLORENCE | 55 | $49,429,700 |
| EFFINGHAM | 2 | $44,500 |
| TIMMONSVILLE | 2 | $175,000 |
| Lake City | 2 | $141,400 |
| Coward | 1 | $40,000 |
| Quinby | 1 | $30,000 |
| Pamplico | 1 | $180,000 |
| JOHNSONVILLE | 1 | $1,224,000 |
FLORENCE accounts for 55 approvals against 2 in EFFINGHAM. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Florence County
How big is Florence County
- Land area800 sq mi
- Rank by land area among South Carolina counties10th of 46
- Width, east to west42.9 mi
- Height, north to south36.6 mi
- Geographies sharing a boundary8
- Residents per square mile of land171
- Establishments per square mile4.10
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Florence County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Florence County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population137,117
- Households52,856
- Average household size2.59
- Median household income$58,305
- Median age39.4
Common questions
Florence County questions, answered from the record.
How many people live in Florence County, South Carolina?
137,117, in 52,856 households, ranking 13th of 46 South Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Florence County growing?
The population has grown 0.73 percent since the 2020 census base. In 2024 there were 1,555 births against 1,819 deaths, with net migration of 852. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Florence County?
$58,305. The median owner-occupied home is valued at $177,900, which is 3.1 times income, and median gross rent is $954 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Florence County?
3,282 establishments, employing 67,074 people with an annual payroll of $3.45 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Florence County?
Average annual pay is $52,861, or $1,017 a week, across 68,848 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Florence County?
67 7(a) approvals totalling $54.2 m since FY2020, across 30 lenders, with a median approval of $261,000, plus 18 504 approvals worth $9.9 m. These are approvals recorded in the release, not loans disbursed.
Do SBA loans in Florence County get paid back?
Of the 12 loans that have reached a final outcome, 10 were paid in full and 2 charged off, a charge off rate of 16.7 percent. Loans still running are excluded, because they have not yet succeeded or failed.
What is being built in Florence County?
666 housing units were authorised by permit in 2024, with a declared construction value of $115.3 m. Multifamily was 12.9 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Florence County?
Zone 3, a predicted average indoor radon screening level less than 2 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Florence County come from?
The largest single origin is Florence County Non-migrants, with 48,212 households. Arriving households report an average income of $49,937 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Florence County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Florence County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.