Florence, CO vs Parachute, CO

Florence is moderately more affordable than Parachute, with a 12.9% lower cost of living index. Florence scores 75 compared to 86 for Parachute, where the US average is 100. This difference means residents of Parachute can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Florence is $694/month compared to $1,050/month in Parachute — a 34% difference. Home values follow the same pattern: Florence is more affordable at $228,300 median vs $269,500.

Median household income in Florence is $57,239 compared to $58,910 in Parachute (-2.8%). Parachute does offer higher incomes, but the salary premium barely offsets the higher cost of living, leaving residents with a tighter budget. Looking at affordability, residents of Florence spend roughly 14.5% of their income on rent, less than the 21.4% in Parachute.