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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 $201,372, higher than the Mississippi average of $183,008.
The average cost of rent is $901/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 16.54% of households rent, and 46.92% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $6,437 per month. Households that rent pay about 13.99% of their income on rent here. Florence’s most expensive areas are in the eastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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