Florence, AL Cost Of Living
Cost Of Living In Florence, AL Summary
Cost of living in Florence research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Florence is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Alabama, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Florence is 86, with 100 being the average.
The cost of living index in Florence is 0.9x lower than the national average.
Florence ranks as the #32 cheapest in Alabama out of 115.
Florence ranks as the #938 cheapest out of 6,412 in the US.
The median home value in Florence is $146,700.
The median income in Florence is $40,944.
Table Of Contents
Florence's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Florence, AL?
According to the most recent data on the cost of living, Florence has an overall cost of living index of 86, which is 0.9x lower than the national index of 100.
Compared to Alabama, Florence has a cost of living index that's 1.0x lower than Alabama's index of 88.
The standard of living in Florence ranks as #32 most affordable out of the 115 places we measured in Alabama. By definition, that implies Florence ranks as the #83 most expensive place in the Heart of Dixie.
For more reading on life in Florence, check out:
- Living In Florence
- Florence Crime Report
- Search Homes For Sale In Florence, AL
In Alabama
In America
Florence Cost Of Living Vs. Alabama
Six factors go into calculating the cost of living index in Florence. Here is how it fairs on each of the criteria:
The Services index in Florence is 94.
The Groceries index in Florence is 94.
The Health index in Florence is 80.
The Housing index in Florence is 67.
The Transportation index in Florence is 92.
The Utilities index in Florence is 99.
| Living Expense | Florence | Alabama | National Average | |
|---|---|---|---|---|
| Overall | 86 | 88 | 100 | |
| Services | 94 | 95 | 100 | |
| Groceries | 94 | 97 | 100 | |
| Health | 80 | 88 | 100 | |
| Housing | 67 | 69 | 100 | |
| Transportation | 92 | 90 | 100 | |
| Utilities | 99 | 101 | 100 | |
Florence, AL Housing Cost Breakdown
Housing swings affordability the most between places in Alabama, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Florence is $146,700.
The Median Rent in Florence is $699.
The Median Income in Florence is $40,944.
The Home Value To Income in Florence is 3.6x.
The Rent To Monthly Income in Florence is 0.2x.
| Statistic | Florence | Alabama | United States |
|---|---|---|---|
| Median Home Value | $146,700 | $157,100 | $244,900 |
| Median Rent | $699 | $852 | $1,163 |
| Median Income | $40,944 | $54,943 | $69,021 |
| Home Value To Income | 3.6x | 2.9x | 3.5x |
| Rent To Monthly Income | 0.2x | 0.19x | 0.2x |
Median Home Value
Median Rent
Median Income
Florence, AL Costs By Category
Detailed Florence Services Costs Vs. Alabama
Detailed Florence Groceries Costs Vs. Alabama
Detailed Florence Health Costs Vs. Alabama
Detailed Florence Transportation Costs Vs. Alabama
Detailed Florence Utilities Costs Vs. Alabama
Florence SnackAbility
/10
Cost Of Living In Cities Around Florence
The cost of living varies in the cities and towns around Florence. Here's a quick look at the cost of living in the most populous nearby places:
Decatur, AL has a cost of living index of 88, 1.0x Florence.
Athens, AL has a cost of living index of 90, 1.0x Florence.
Muscle Shoals, AL has a cost of living index of 89, 1.0x Florence.
| City | Population | Cost Of Living | Vs. Florence |
|---|---|---|---|
| Decatur, AL | 57,303 | 88 | 1.0x |
| Athens, AL | 25,213 | 90 | 1.0x |
| Muscle Shoals, AL | 15,969 | 89 | 1.0x |
| Hartselle, AL | 15,308 | 87 | 1.0x |
| Corinth, MS | 14,545 | 82 | 1.0x |
| Lawrenceburg, TN | 11,460 | 81 | 0.9x |
| Sheffield, AL | 9,305 | 80 | 0.9x |
| Tuscumbia, AL | 8,977 | 85 | 1.0x |
| Pulaski, TN | 8,163 | 83 | 1.0x |
| Savannah, TN | 7,157 | 78 | 0.9x |
