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 85, with 100 being the average.
The cost of living index in Florence is 0.8x lower than the national average.
Florence ranks as the #18 cheapest in Alabama out of 119.
Florence ranks as the #511 cheapest out of 6,489 in the US.
The median home value in Florence is $202,164.
The median income in Florence is $50,396.
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 85, which is 0.8x lower than the national index of 100.
Compared to Alabama, Florence has a cost of living index that's 0.9x lower than Alabama's index of 90.
The standard of living in Florence ranks as #18 most affordable out of the 119 places we measured in Alabama. By definition, that implies Florence ranks as the #101 most expensive place in the Heart of Dixie.
For more reading on life in Florence, check out:
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 89.
The Groceries index in Florence is 94.
The Health index in Florence is 84.
The Housing index in Florence is 77.
The Transportation index in Florence is 91.
The Utilities index in Florence is 94.
| Living Expense | Florence | Alabama | National Average | |
|---|---|---|---|---|
| Overall | 85 | 90 | 100 | |
| Services | 89 | 97 | 100 | |
| Groceries | 94 | 98 | 100 | |
| Health | 84 | 86 | 100 | |
| Housing | 77 | 74 | 100 | |
| Transportation | 91 | 93 | 100 | |
| Utilities | 94 | 102 | 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 2019-2023. The key points are:
The Median Home Value in Florence is $202,164.
The Median Rent in Florence is $784.
The Median Income in Florence is $50,396.
The Home Value To Income in Florence is 4.0x.
The Rent To Monthly Income in Florence is 0.19x.
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
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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 90, 1.1x Florence.
Athens, AL has a cost of living index of 91, 1.1x Florence.
Muscle Shoals, AL has a cost of living index of 90, 1.1x Florence.
| City | Population | Cost Of Living | Vs. Florence |
|---|---|---|---|
| Decatur, AL | 57,760 | 90 | 1.1x |
| Athens, AL | 27,474 | 91 | 1.1x |
| Muscle Shoals, AL | 16,670 | 90 | 1.1x |
| Hartselle, AL | 15,586 | 88 | 1.0x |
| Corinth, MS | 14,450 | 87 | 1.0x |
| Lawrenceburg, TN | 11,732 | 86 | 1.0x |
| Sheffield, AL | 9,334 | 83 | 1.0x |
| Tuscumbia, AL | 9,084 | 85 | 1.0x |
| Pulaski, TN | 8,305 | 86 | 1.0x |
| Savannah, TN | 7,219 | 83 | 1.0x |
