Home Price Key
Affordable
Average
Expensive
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 $204,605, lower than the Minnesota average of $269,934.
The average cost of rent is $673/mo in Florence, primarily driven by the current value of real estate in the Florence area. While nearly 41.12% of residents own their homes outright in Florence, 12.97% rent.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $5,796 per month. Households that rent pay about 11.60% of their income on rent here. Florence's most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the city.
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