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Affordable
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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 $524,170, higher than the Montana average of $409,886.
The average cost of rent is $1,270/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 10.09% of households rent, and 43.39% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Florence is $7,445 per month. Households that rent pay about 17.05% of their income on rent here. Florence’s most expensive areas are in the northwestern 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.
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