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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 $221,417, higher than the Kentucky average of $219,615.
The average cost of rent is $1,478/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 34.49% of households rent, and 33.73% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $7,182 per month. Households that rent pay about 20.59% of their income on rent here. Florence’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Elsmere, KY: less expensive homes
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- Crestview Hills, KY: higher priced homes
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- Independence, KY: higher priced homes
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Cities with Similar Populations
- Ballwin, MO: higher priced homes
- Irondequoit, NY: less expensive homes
- East Lansing, MI: higher priced homes
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- Bedford, TX: higher priced homes
- Princeton, FL: higher priced homes
- Marion, OH: less expensive homes
- Martinez, CA: higher priced homes
- Milford, CT: higher priced homes
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