Cost of Living in Florence, KY
Population 32,803 · Census ACS 2020–2024 5-year estimates
The median rent in Florence, KY is $1,329/month, 37% higher than the Kentucky median and 6% lower than the U.S. median. The median home value is $210,700, 37% lower than the national median. Households earn a median of $71,003 a year, 11% higher than the state median.
Affordability
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Florence vs. Kentucky vs. U.S.
| Florence | Kentucky | U.S. | |
|---|---|---|---|
| Median rent | $1,329 | $967 | $1,413 |
| Median home value | $210,700 | $205,600 | $332,700 |
| Median household income | $71,003 | $63,726 | $80,734 |
| Homeownership rate | 57.5% | 68.3% | 65.2% |
| Bachelor's degree or higher | 26.4% | 27.6% | 35.7% |
| Poverty rate | 9.5% | 16.1% | 12.5% |
| Unemployment rate | 3.1% | 4.9% | 5.2% |
| Work from home | 11.4% | 10.2% | 15.1% |
| Median age | 38.9 | 39.1 | 38.9 |
FAQ
What is the average rent in Florence, KY?
The median gross rent in Florence, KY is $1,329 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Florence, KY?
Using the common 30% rule, renting a median-priced home takes about $53,160 a year in gross income.
Is Florence, KY expensive to live in?
Rent there is 6% lower than the U.S. median, and the median home costs about 3.0 times the median household income.
Other cities in Kentucky
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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