Florence, Arizona Housing Market Prices
Florence Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 80% below the Arizona median$75,000
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Median rent 5% below the Arizona median$1,469
Housing Market Overview
| Metric | Florence | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $367,851 | $248,835 |
| Price Trend (Annual %) | -0.2% | 11.9% | 7.5% |
| Median Gross Rent | $1,469 | $1,543 | $1,407 |
| Rent Trend (Annual %) | 7.0% | 6.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Florence is about 80% lower than in Arizona. Rent is about 5% lower than the Arizona average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Florence: home prices fell about 0.2% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
Median rent in Florence rose about 64.4% between 2015 and 2024, from $894 to $1,469. Over the same span, rent in Arizona rose about 69.1%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Florence.
Buying the median-priced home in Florence costs roughly 4.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Florence. The price-to-rent ratio in Arizona is about 19.9.
| Metric | Florence | Arizona Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,000 | $367,851 | $248,835 |
| Median Household Income | $86,471 | $80,381 | $80,455 |
| Price-to-Income Ratio | 0.9 | 4.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Florence rose about 0.2%, while median household income rose about 53.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Florence | Arizona Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.0% | 60.3% | 58.5% |
| Rental Rate | 11.0% | 29.2% | 31.2% |
| Vacancy Rate | 14.0% | 10.6% | 10.2% |
| Median Tenure (years) | 9.0 | 13.0 | 15.0 |
| Median Year Moved In | 2017 | 2013 | 2011 |
Florence has a homeownership rate of 75.0%, higher than the Arizona average of 60.3%. Its housing vacancy rate is 14.0%, compared with 10.6% in Arizona.
Housing Stock
| Metric | Florence | Arizona Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.71 people | 2.53 people | 2.53 people |
| Median Structure Built Year | 2005 | 1991 | 1978 |
| Median Number of Rooms | 5.4 | 5.3 | 5.5 |
The typical housing unit in Florence was built around 2005. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 9.0 years on average.
Florence, AZ Housing Compared With Nearby Cities
How Florence, AZ compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Florence, AZ | 22,129 | $75,000 #2/2 | $1,469 #2/2 | 87.2% #1/2 |
| San Tan Valley, AZ | 102,207 | $371,122 | $2,092 | 82.7% |
Frequently Asked Questions
Common questions about the housing market in Florence, Arizona.
What is the median home price in Florence, Arizona?
The median home price in Florence, Arizona is $75,000, lower than the Arizona average of $367,851.
What is the average home price in Florence, Arizona?
The typical home price in Florence, Arizona, reported as the median sale price, is $75,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Florence, Arizona?
The median gross rent in Florence, Arizona is $1,469 per month, lower than the Arizona average of $1,543.
What was the median gross rent in Florence in 2020?
In 2020, the median gross rent in Florence, Arizona was $1,007 per month.
What is the price-to-rent ratio in Florence, Arizona?
The price-to-rent ratio in Florence, Arizona is about 4.3, meaning it would take roughly 4.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Florence.
Are home prices or rent rising faster in Florence, Arizona?
Home prices and rent are moving in opposite directions in Florence: home prices fell about 0.2% a year while rent rose about 7.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Florence, Arizona?
75.0% of households in Florence, Arizona own their home, higher than the Arizona average of 60.3%.
What is the vacancy rate in Florence, Arizona?
The housing vacancy rate in Florence, Arizona is 14.0%, higher than the Arizona average of 10.6%.
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