Florence, KY Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 94, with 100 being the average.

  • The cost of living index in Florence is 0.9x lower than the national average.

  • Florence ranks as the #57 cheapest in Kentucky out of 85.

  • Florence ranks as the #2,290 cheapest out of 6,412 in the US.

  • The median home value in Florence is $158,800.

  • The median income in Florence is $64,718.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
94
Florence's Overall Cost Of Living
0.9x
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 94, which is 0.9x lower than the national index of 100.

Compared to Kentucky, Florence has a cost of living index that's 1.0x lower than Kentucky's index of 94.

The standard of living in Florence ranks as #57 most affordable out of the 85 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:

57 out of 85
In Kentucky
2,290 out of 6,412
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 98.

  • The Groceries index in Florence is 97.

  • The Health index in Florence is 100.

  • The Housing index in Florence is 81.

  • The Transportation index in Florence is 107.

  • The Utilities index in Florence is 86.

Living Expense Florence Kentucky National Average
Overall 94 94 100
Services 98 105 100
Groceries 97 97 100
Health 100 79 100
Housing 81 75 100
Transportation 107 102 100
Utilities 86 106 100
For more reading on cost of living around Kentucky, check out:
Florence Cost of Living Vs. KY

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 2017-2021. The key points are:

  • The Median Home Value in Florence is $158,800.

  • The Median Rent in Florence is $999.

  • The Median Income in Florence is $64,718.

  • The Home Value To Income in Florence is 2.5x.

  • The Rent To Monthly Income in Florence is 0.19x.

Statistic Florence Kentucky United States
Median Home Value $158,800 $155,100 $244,900
Median Rent $999 $826 $1,163
Median Income $64,718 $55,454 $69,021
Home Value To Income 2.5x 2.8x 3.5x
Rent To Monthly Income 0.19x 0.18x 0.2x
Search Homes For Sale In Florence, KY
$158,800
Median Home Value
$999
Median Rent
$64,718
Median Income

Florence, KY Costs By Category

Detailed Florence Services Costs Vs. Kentucky

Item Florence Kentucky
Shampoo $0.94 $1.06
Movie $11.77 $10.68
Bowling $13.55 $14.67
Haircut $19.48 $18.62
Beauty Salon $34.8 $39.05

Detailed Florence Groceries Costs Vs. Kentucky

Item Florence Kentucky
Ground Beef $3.71 $4.22
Fried Chicken $1.25 $1.39
Milk $1.42 $2.05
Potatoes $3.87 $3.29
Pizza $10.12 $10.62
Beer $8.93 $9.38
Toothpaste $2.0 $2.34

Detailed Florence Health Costs Vs. Kentucky

Item Florence Kentucky
Optometrist $96.61 $108.57
Doctor $109.23 $116.17
Dentist $105.08 $99.13

Detailed Florence Transportation Costs Vs. Kentucky

Item Florence Kentucky
Gasoline $2.29 $2.22
Tire Balancing $57.11 $50.07

Detailed Florence Utilities Costs Vs. Kentucky

Item Florence Kentucky
All Electricity $134.81 $167.67
Phone $179.1 $175.64

Florence SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8
Affordability
8
Diversity
7
Safety
5
Amenities
9
Education
8
Commute
8

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 97, 1.0x Florence.

  • Erlanger, KY has a cost of living index of 89, 0.9x Florence.

  • Burlington, KY has a cost of living index of 96, 1.0x Florence.

City Population Cost Of Living Vs. Florence
Independence, KY 28,256 97 1.0x
Erlanger, KY 19,506 89 0.9x
Burlington, KY 18,394 96 1.0x
Bridgetown, OH 13,257 90 1.0x
Monfort Heights, OH 13,221 98 1.0x
Mack, OH 11,452 104 1.1x
Dent, OH 11,069 96 1.0x
Forestville, OH 10,485 99 1.1x
Oakbrook, KY 9,883 96 1.0x
Elsmere, KY 9,080 91 1.0x

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