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These days, finding an affordable place to live in the Florence area can be challenging. Home prices in Florence are now at a median cost of $215,739, lower than the Illinois average of $300,242.
The average cost of rent is $804/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 14.70% of households rent, and 63.28% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $7,036 per month. Households that rent pay about 11.43% of their income on rent here. Florence’s most expensive areas are in the southern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Freeport, IL: less expensive homes
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Cities with Similar Populations
- South Hingham, MA: higher priced homes
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- Lacrosse, WA: less expensive homes
- Lahmansville, WV: higher priced homes
- Lakeside, MI: higher priced homes
- Locust Grove, KY: equally priced homes
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