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 Oregon, 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 107, with 100 being the average.
The cost of living index in Florence is 1.1x higher than the national average.
Florence ranks as the #23 cheapest in Oregon out of 98.
Florence ranks as the #3,867 cheapest out of 6,412 in the US.
The median home value in Florence is $269,300.
The median income in Florence is $50,615.
According to the most recent data on the cost of living, Florence has an overall cost of living index of 107, which is 1.1x higher than the national index of 100.
Compared to Oregon, Florence has a cost of living index that's 0.9x lower than Oregon's index of 116.
The standard of living in Florence ranks as #23 most affordable out of the 98 places we measured in Oregon. By definition, that implies Florence ranks as the #75 most expensive place in the Beaver State.
For more reading on life in Florence, check out:
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 120.
The Groceries index in Florence is 115.
The Health index in Florence is 117.
The Housing index in Florence is 92.
The Transportation index in Florence is 130.
The Utilities index in Florence is 88.
|Living Expense||Florence||Oregon||National Average|
Housing swings affordability the most between places in Oregon, 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 $269,300.
The Median Rent in Florence is $1,028.
The Median Income in Florence is $50,615.
The Home Value To Income in Florence is 5.3x.
The Rent To Monthly Income in Florence is 0.24x.
|Median Home Value||$269,300||$362,200||$244,900|
|Home Value To Income||5.3x||5.2x||3.5x|
|Rent To Monthly Income||0.24x||0.21x||0.2x|
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:
Eugene, OR has a cost of living index of 118, 1.1x Florence.
Coos Bay, OR has a cost of living index of 107, 1.0x Florence.
Newport, OR has a cost of living index of 113, 1.1x Florence.