Cost of Living in Florence, MN
Population: 29 | Minnesota
Florence is 13% less expensive than the national average.
Cost of Living in Florence, MN: What You Need to Know
With a cost of living index of 87, Florence, MN is a very affordable place to live. Living here is 13% cheaper than the national average and 4% above the Minnesota state average of 82. Florence is a small community of 29 residents.
The median household income in Florence is $42,500, which is 43% lower than the national median of $75,149. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.
Climate is another factor for anyone considering a move to Florence. The area sees an average annual temperature of 45.1°F, with summers averaging 70°F and winters around 19°F. Annual rainfall totals 29.6 inches spread over roughly 108 days. Cold winters mean higher heating bills, an important cost-of-living consideration.
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.
Income
- Median Household Income
- $42,500
- vs US Median ($75,149)
- -43%
Housing
- Median Home Value
- $158,300
Climate in Florence
NOAA 30-year normals (1991-2020)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 24 | 29 | 42 | 57 | 69 | 79 | 83 | 80 | 73 | 59 | 42 | 29 |
| Avg °F | 15 | 20 | 32 | 45 | 58 | 68 | 72 | 69 | 61 | 48 | 33 | 20 |
| Low °F | 6 | 11 | 23 | 34 | 47 | 58 | 61 | 59 | 49 | 37 | 23 | 12 |
| Rain" | 0.7 | 0.9 | 1.8 | 3.3 | 3.8 | 5.0 | 3.4 | 3.2 | 3.1 | 2.3 | 1.3 | 0.9 |