Market Overview
Home Prices in Florence, SD
The median home value in Florence, SD is $528,897 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.9% compared to a year ago and down 3.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Florence are priced29% above average. Florence is part of the Watertown, SD metro area.
Price History
Florence Home Price Trend
2022
$433,836
$434K
—
2023
$511,110
$511K
+17.8%
2024
$532,916
$533K
+4.3%
2025
$514,143
$514K
-3.5%
2026
$528,897
$529K
+2.9%
City Comparison
Florence vs. National Median
🏠 Florence
$528,897
National Median
$410,000
At $528,897, homes in Florence cost 29% above the national median of $410,000. Buyers in Florence should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Florence?
20% Down Payment
$105,779
on $528,897
Monthly P&I
$2,758/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,503/mo
incl. taxes & insurance
Income Needed
$140,120
gross annual (30% rule)
10% Down Option
$52,890
+ PMI applies
Loan Amount (20% dn)
$423,118
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Florence, SD?
The median home value in Florence is $528,897 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.9% year-over-year.
How much have home prices changed in Florence?
Over the past year, home values in Florence have increased by 2.9%.
How much do I need to earn to buy a home in Florence?
To comfortably afford the median home price of $528,897 with a 20% down payment ($105,779) at today's rates (6.8%), you'd need a gross annual income of approximately $140,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Florence compare to the national average home price?
The national median home value is approximately $410,000. At $528,897, homes in Florence are 29% above the national average.
What metro area is Florence part of?
Florence is part of the Watertown, SD metropolitan area. Home prices and market conditions can vary across the broader metro region.