Cost of Living in Florence, AZ

With a cost of living index of 98, Florence, AZ is right around the national average in cost. Living here is 2% cheaper than the national average and 9% above the Arizona state average of 89. With a population of 25,961, Florence is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Florence's cost of living. The median monthly rent is $1,163 (12% below the US median of $1,319), and the median home value sits at $322,600 (6% above the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Florence is $76,259, which is 1% higher than the national median of $75,149. Residents spend roughly 18% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Florence. The area sees an average annual temperature of 75.6°F, with summers averaging 94°F and winters around 58°F. Annual rainfall totals 7.2 inches spread over roughly 33 days. Hot summers are common, which can affect utility costs and lifestyle.

Everyday prices in the Phoenix-Mesa-Chandler, AZ (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.