Cost of Living in Florence, MS
Population 4,647 · Mississippi · Data vintage 2023
(100 = US avg)
Buyers in Florence can reasonably expect a home to cost less than three years of household income — $207,000 against $86,406 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country. Unemployment has stayed elevated relative to the national figure — 7.3% as of the most recent ACS release — which shows up in household-income and poverty figures as well.
Located 12 miles southeast of Jackson, Florence falls within that metro's commuting orbit. Median home values run roughly 92% higher than Jackson's $108,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Florence
The median home value in Florence is $207,400 — 32% below the national median of $305,000. Median rent runs $1,037/month, 21% lower than the national median of $1,314/month. The median household income of $86,406/year is 16% higher than the US median of $74,580. The local unemployment rate is 7.3%, above the national average of 4.8%. Mississippi's top state income tax rate is 4.7% and the combined sales tax is 7.1%. Overall, Florence has a cost of living index of 72 versus the US average of 100, meaning it is 28% less expensive.
Florence has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
Frequently Asked Questions
What is the cost of living in Florence, MS?
Florence has a cost index of 72 (100 = national average). It is 28% below the national average.
What is average rent in Florence, MS?
The median gross rent in Florence is $1,037 per month based on 2023 Census data.
What is the average home price in Florence?
The median home value in Florence is $207,400 according to Zillow and Census data.
What is the median income in Florence?
The median household income in Florence is $86,406 per year (2023 ACS 5-year estimates).
What is the sales tax in Florence, MS?
The combined state and local sales tax rate in Florence is 7.1%. The Mississippi state income tax top rate is 4.7%.
Is Florence, MS affordable?
Yes, Florence is generally considered affordable, with a cost of living index of 72 — about 28% below the US national average of 100.
Florence at a Glance
- Population
- 4,647
- Median Income
- $86,406
- Home Value
- $207,400
- Median Rent
- $1,037/mo
- Unemployment
- 7.3%
- Sales Tax
- 7.1%
Explore county-level cost of living data
Mississippi Rankings
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