Florence, KY—41042
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Florence, KY
As of Oct '25, the median home price in Florence, KY is $272,000, with a year-over-year change of 2.0%. This indicates that home prices in Florence, KY are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $272,000 | 2.0% |
| Single Family | $296,000 | 3.5% |
| Condos | $204,000 | 0.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $197,000 | 2.1% |
3 Bed | $272,000 | 2.6% |
4 Bed | $368,000 | 4.0% |
| 5 Bed | $447,000 | 2.3% |
% of Housing Stock
Rental Trends — Florence, KY
As of July '25, Rentcast reports the average rent in Florence, KY is $1,600, with a year-over-year rent change of -13.5%. Per bedroom, the median rent as of July '25 in Florence, KY is studios: $1,380, 1-bedrooms: $1,240, 2-bedrooms: $1,480, 3-bedrooms: $2,020, 4-bedrooms: $2,640. The most common rental property sizes in Florence, KY are 2-bedroom and 1-bedroom, accounting for 45.3% and 29.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,510 | $1,600 |
| Studio Rent | $1,470 | $1,380 |
| 1 Bed Rent | $1,260 | $1,240 |
| 2 Bed Rent | $1,500 | $1,480 |
| 3 Bed Rent | $2,000 | $2,020 |
| 4 Bed Rent | $2,700 | $2,640 |
% of Rental Stock
Property Listings — Florence, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Florence, KY is 33. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $288,000 | 3.0% |
Listing Count | 107 | -16.0% |
| Listings as % of Homes | 0.3% | -16.0% |
Days on Market | 33 | -10.0% |
Demographics — Florence, KY
As of the latest ACS Survey released in 2023, Florence, KY has a population of 55,900, which has increased by 7.7% over the past 5 years. Florence, KY is a moderately popular place for families, as children make up 22.3% of the population. The area has a moderately educated workforce, with 28.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 55,900 | 7.7% |
% Under 18 | 22.3% | -5.1% |
% Seniors | 17.2% | 11.7% |
% WFH | 11.1% | 184.6% |
% w/ College Degree | 28.3% | 6.8% |
As of the latest ACS Survey released in 2023, Florence, KY is a predominantly white area, with 77.9% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in Florence, KY is hispanic, making up 7.5% of the population. Foreign-born residents account for 8.7% of the population in Florence, KY, and this percentage has increased by 19.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.9% | -8.6% |
% Black | 6.7% | 55.8% |
% Hispanic | 7.5% | 36.4% |
% Asian | 2.8% | -3.4% |
% Foreign Born | 8.7% | 19.2% |
Mortgage and Risk — Florence, KY
According to HUD data as of 2023, there were 939 mortgage originations in Florence, KY, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Florence, KY. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 939 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Florence, KY
As of 2024, the percent of homes in Florence, KY under the Section 8 program is 12.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Florence, KY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 928 |
Total Units Section 8 | 886 |
% Rentals under Section 8 | 12.7% |
% Occupied Section 8 | 88.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,260 | $1,100 |
| 2 Bedroom | -$70 | $1,500 | $1,430 |
| 3 Bedroom | -$100 | $2,000 | $1,900 |
| 4 Bedroom | -$610 | $2,700 | $2,090 |
Affordability — Florence, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $272,000 |
| Median Household Income | $75,600 |