Cost of Living in Florence, AL
Population: 41,231 • 2026 Data
$50,396
Median Household Income
-35% vs national
$784
Median Monthly Rent
-42% vs national
$174,100
Median Home Value
-49% vs national
5.8%
Unemployment Rate
Housing in Florence
The median home value in Florence, AL is $174,100. Monthly rent for a typical unit averages $784, while total monthly housing costs (including utilities and insurance) average $776.
Rent-to-income ratio: 18.7%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Florence, AL is $50,396. The unemployment rate stands at 5.8%, with a labor force of 19,327 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.