The typical owner-occupied home in Florence is worth about $358,300, 25% below the Oregon median of $477,600 and 8% above the national median of $332,700. Owners pay a median $2,496 a year in property taxes, about 0.70% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $53,333 a year, so the median home costs 6.7 times the median income (5.8 times for Oregon). 64% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Florence at a glance
| Florence | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $358,300 | $477,600 | $332,700 |
| Median property tax paid per year | $2,496 | $3,876 | $3,119 |
| Property tax as a share of value | 0.70% | 0.81% | 0.94% |
| Median household income | $53,333 | $83,011 | $80,734 |
| Homes lived in by their owners | 64% | 63% | 65% |
| Owner homes with a mortgage | 49% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,501 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 29.2% | 22.4% | 21.0% |
| Median rent | $1,259 | $1,525 | $1,413 |
| Rent as a share of renters' income | 31.2% | 31.3% | 30.6% |
| Median year homes were built | 1989 | 1981 | 1980 |
| Vacant homes | 10.6% | 7.5% | 10.1% |
| Population | 9,482 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Florence
At this week's average 30-year rate of 7.11%, buying the median Florence home of $358,300 with 20% down costs about $2,287 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,883, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $97,995 for the 20%-down payment. That payment is 51% of the median Florence household income of $53,333; at that income and 20% down, the 28% guideline points to a home of about $195,000.
The median rent here is $1,259 a month, so owning the median home costs about $1,028 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $71,660 |
|---|---|
| Loan amount | $286,640 |
| Principal and interest | $1,928 |
| Property taxes (0.70% a year) | $209 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| PMI | $0 |
| Total per month | $2,287 |
Change the numbers in the calculator
| Down payment | $12,540 |
|---|---|
| Loan amount | $351,810 |
| Principal and interest | $2,367 |
| Property taxes (0.70% a year) | $209 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| FHA mortgage insurance | $158 |
| Total per month | $2,883 |
Change the numbers in the calculator
Questions about home buying in Florence
What is the median home value in Florence?
About $358,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Florence?
Homeowners pay a median $2,496 a year, which is about 0.70% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Florence?
For the median home with 20% down at 7.11%, the payment is about $2,287 a month. Keeping that under 28% of gross income takes about $97,995 a year.
More about Florence
- Mortgage Refinance in Florence
- Debt Relief in Florence
- Home Equity Loans in Florence
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data