Florence is considered moderately affordable in 2025, with average rent for a 2-bedroom apartment around $1,450 per month and utility costs slightly below the national average.
Is the true cost of living in Florence higher than you think? Let’s break down the monthly expenses to see what it really takes to live comfortably in this Northern Kentucky city in 2025.
Housing Costs in Florence
Florence offers a mix of housing options, from apartments and condos to single-family homes. Typical rent for a 2-bedroom apartment ranges from $1,300 to $1,600 per month, depending on the neighborhood and amenities. Buying a 3-bedroom house will generally cost between $250,000 to $350,000.
Some of the more affordable neighborhoods for renting include:
- Oakbrook: 2-bedroom apartments around $1,350/month
- Plantation Pointe: 2-bedroom units averaging $1,400/month
- Saddlebrook: Typical 2-bedroom rent of $1,450/month
For home buyers, popular neighborhoods like Farmview and Hanover Park tend to have slightly higher prices, with 3-bedroom houses often selling for over $300,000. HOA fees are common in many subdivisions, typically adding $100 to $300 per month.
Utility Costs
Basic utility costs in Florence are close to the national average. Expect to pay around the following each month:
- Electricity: $120
- Gas: $60
- Water/Sewer/Trash: $90
- Internet: $65
Cooling costs may spike in the hot summer months, potentially adding $50 or more to the electric bill. Winter heating is more moderate, with gas costs rising by about $20-$30 monthly.
Groceries and Food
Food costs in Florence are fairly typical for the region. The average single person might spend around $300 per month on groceries, while a family of four will likely pay closer to $900.
A gallon of milk runs about $3.50, while a dozen eggs cost around $2.20. Dining out for two at a mid-range restaurant with drinks usually totals $50-$70 after tax and tip.
Taxes and Fees
Florence’s property tax rate is $0.978 per $100 of assessed value, slightly higher than some neighboring cities. For a $300,000 home, annual property taxes would be approximately $2,934.
Kentucky’s statewide sales tax is 6%, which applies to most goods purchased in Florence. Vehicle registration fees are $21 per year, plus applicable taxes based on the vehicle’s value.
Monthly Budget Examples
| Expense | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (Rent/Mortgage) | $1,400 | $1,600 | $2,000 |
| Utilities | $250 | $320 | $450 |
| Groceries | $300 | $600 | $900 |
| Transportation | $200 | $300 | $500 |
| Lifestyle/Entertainment | $400 | $600 | $800 |
| Monthly Total (Pre-Tax) | $2,550 | $3,420 | $4,650 |
These figures represent gross monthly income (pre-tax) and will vary based on individual circumstances. To live comfortably, a single person may need around $3,000/month, a couple $4,000/month, and a family closer to $5,500/month in gross income.
Lifestyle Considerations
Florence offers a suburban lifestyle with relatively easy access to Cincinnati. Commute times for those working in the city are typically 20-30 minutes. Most errands can be accomplished with a short drive.
Renting provides more flexibility and lower upfront costs compared to buying. However, the Florence real estate market has seen steady appreciation, so purchasing a home can be a solid investment for those planning to stay long-term.
Newer construction homes and apartments come with higher price tags but often include amenities and require less maintenance. Older properties may offer more affordable entry points in exchange for sweat equity.
Proximity to parks, shopping, and top-rated Boone County schools make certain neighborhoods very desirable for families, though competition for homes can be fierce. Young professionals tend to gravitate to the apartment complexes near Mall Road for convenience and amenities.
When planning your move, be sure to compare quotes from multiple providers to find the best value. See our 2025 moving company picks for well-regarded options in Florence and beyond.
Frequently Asked Questions
Is Florence an expensive place to live?
Florence is relatively affordable compared to many parts of the country. Housing costs are moderate, and everyday expenses align with national averages. However, the cost of living is slightly higher than some other parts of Kentucky.
How much do you need to make to live comfortably in Florence?
A gross income of at least $3,000 per month for a single person or $5,500 per month for a family of four is recommended to live comfortably while covering housing, food, utilities, and discretionary spending.
What salary do you need to buy a house in Florence?
To afford a median-priced home of around $300,000, you’ll likely need a household income of $80,000 or more, assuming a 10% down payment. Lenders typically want to see a debt-to-income ratio below 36%.
How do living costs compare to nearby cities?
Florence is more affordable than most parts of Cincinnati, with lower housing costs in particular. Compared to Independence and Union, costs in Florence are fairly similar, though property taxes are slightly higher.
Is Florence a good place to raise a family?
With quality schools, ample parks, and a strong sense of community, Florence is an attractive place for families. The reasonable cost of living also allows more budget flexibility compared to larger cities.
What’s the job market like in Florence?
Florence has seen steady job growth, with major employers in healthcare, retail, manufacturing, and logistics. The Cincinnati metro area provides additional opportunities in finance, education, and professional services within a reasonable commute.