Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 32,618, 13,760 total housing units (homes and apartments), and a median house value of $277,205, Florence real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Florence, accounting for 46.30% of the city's housing units. Other types of housing that are prevalent in Florence include large apartment complexes or high rise apartments ( 42.57%), row houses and other attached homes ( 5.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.11%).
People in Florence primarily live in small (one, two or no bedroom) single-family detached homes. Florence has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Florence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Florence built between 2000 and later ( 27.58%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.95%). There's also some housing in Florence built before 1939 ( 1.53%).
Appreciation rates for homes in Florence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.81%, which ranks in the top 40% nationwide. This equates to an annual average Florence house appreciation rate of 7.06%.
NeighborhoodScout's data show that during the latest twelve months, Florence's appreciation rate, at 7.70%, has been at or slightly above the national average. In the latest quarter, Florence's appreciation rate has been 1.53%, which annualizes to a rate of 6.27%.
Relative to Kentucky, our data show that Florence's latest annual appreciation rate is higher than 70% of the other cities and towns in Kentucky.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Florence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Florence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Florence real estate investment or home purchase decisions.
$277,205
for Kentucky
for nation
13,760
$1,844 / per month