Florence, KY Cost Of Living
Cost Of Living In Florence, KY 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 Kentucky, 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 98, with 100 being the average.
The cost of living index in Florence is 1.0x lower than the national average.
Florence ranks as the #56 cheapest in Kentucky out of 84.
Florence ranks as the #2,372 cheapest out of 6,489 in the US.
The median home value in Florence is $281,068.
The median income in Florence is $68,508.
Table Of Contents
Florence's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Florence, KY?
According to the most recent data on the cost of living, Florence has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to Kentucky, Florence has a cost of living index that's 1.1x higher than Kentucky's index of 92.
The standard of living in Florence ranks as #56 most affordable out of the 84 places we measured in Kentucky. By definition, that implies Florence ranks as the #28 most expensive place in the Bluegrass State.
For more reading on life in Florence, check out:
In Kentucky
In America
Florence Cost Of Living Vs. Kentucky
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 103.
The Groceries index in Florence is 100.
The Health index in Florence is 104.
The Housing index in Florence is 90.
The Transportation index in Florence is 103.
The Utilities index in Florence is 101.
| Living Expense | Florence | Kentucky | National Average | |
|---|---|---|---|---|
| Overall | 98 | 92 | 100 | |
| Services | 103 | 101 | 100 | |
| Groceries | 100 | 99 | 100 | |
| Health | 104 | 85 | 100 | |
| Housing | 90 | 71 | 100 | |
| Transportation | 103 | 94 | 100 | |
| Utilities | 101 | 105 | 100 | |
Florence, KY Housing Cost Breakdown
Housing swings affordability the most between places in Kentucky, 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 $281,068.
The Median Rent in Florence is $1,199.
The Median Income in Florence is $68,508.
The Home Value To Income in Florence is 4.1x.
The Rent To Monthly Income in Florence is 0.21x.
Median Home Value
Median Rent
Median Income
Florence, KY Costs By Category
Detailed Florence Services Costs Vs. Kentucky
Detailed Florence Groceries Costs Vs. Kentucky
Detailed Florence Health Costs Vs. Kentucky
Detailed Florence Transportation Costs Vs. Kentucky
Detailed Florence Utilities Costs Vs. Kentucky
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:
Independence, KY has a cost of living index of 99, 1.0x Florence.
Erlanger, KY has a cost of living index of 94, 1.0x Florence.
Burlington, KY has a cost of living index of 102, 1.0x Florence.
| City | Population | Cost Of Living | Vs. Florence |
|---|---|---|---|
| Independence, KY | 29,024 | 99 | 1.0x |
| Erlanger, KY | 19,677 | 94 | 1.0x |
| Burlington, KY | 18,090 | 102 | 1.0x |
| Bridgetown, OH | 13,830 | 96 | 1.0x |
| Monfort Heights, OH | 12,203 | 97 | 1.0x |
| Dent, OH | 12,097 | 106 | 1.1x |
| Mack, OH | 11,444 | 109 | 1.1x |
| Forestville, OH | 11,213 | 107 | 1.1x |
| Oakbrook, KY | 9,459 | 106 | 1.1x |
| Elsmere, KY | 9,151 | 96 | 1.0x |
