The Most Affordable Neighborhoods in Florence, NY by Home Value

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 $124,253, lower than the New York average of $610,895.

The average cost of rent is $1,298/mo in Florence, primarily driven by the current value of real estate in the Florence area. In Florence, 9.81% of households rent, and 57.26% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Florence is $6,498 per month. Households that rent pay about 19.98% of their income on rent here. Florence’s most expensive areas are in the northeastern regions, while the cheapest areas are in the central 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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