Florence, AZ

Below Avg · 87

Arizona · Population 25,961 · Updated March 2026

$1,163
Median Rent / Month
$76,259
Median Income
$322,600
Median Home Value
$1,050
Owner Costs / Month

Affordability

How far your income goes in Florence

18.3%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Arizona

State-level tax rates that affect your costs

2.5%
Income Tax (Top Rate)
5.6%
Sales Tax
0.62%
Property Tax Rate

Estimated Annual Costs

$13,956
Annual Rent
$1,906
State Income Tax
$2,000
Property Tax (est.)

Cost of Living Overview

Florence offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 87 (where 100 equals the national median), Florence residents can expect to pay median rent of $1,163/month while earning a median household income of $76,259/year.

The median home value in Florence, AZ is $322,600, with typical monthly owner costs around $1,050 including mortgage, insurance, and taxes. The median rent-to-income ratio of 18.3% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Arizona has a moderate income tax rate of 2.5%. Combined with a 5.6% sales tax rate and 0.62% effective property tax rate, the overall tax environment is a factor in the total cost of living in Florence.

Frequently Asked Questions

Common questions about living costs in Florence

What is the cost of living in Florence, AZ?
The cost of living index in Florence, AZ is 87 (US average = 100). Median monthly rent is $1,163, median household income is $76,259/year, and the median home value is $322,600.
Is Florence, AZ affordable?
Yes, Florence is more affordable than the national average with a cost index of 87. The rent-to-income ratio is 18.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Florence, AZ?
The median gross rent in Florence, AZ is $1,163 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,956.
What is the median household income in Florence?
The median household income in Florence, AZ is $76,259 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Arizona?
Arizona has a top income tax rate of 2.5%, a sales tax of 5.6%, and an effective property tax rate of 0.62%.