Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 31,110, 6,832 total housing units (homes and apartments), and a median house value of $88,446, house prices in Florence are some of the most affordable in Arizona as well as the nation.
Single-family detached homes are the single most common housing type in Florence, accounting for 66.27% of the town's housing units. Other types of housing that are prevalent in Florence include mobile homes or trailers ( 22.90%), duplexes, homes converted to apartments or other small apartment buildings ( 6.76%), and a few large apartment complexes or high rise apartments ( 3.69%).
The most prevalent building size and type in Florence are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 39.56% owning and 60.44% renting.
Florence homes and real estate are some of the newest in America. 58.41% of Florence's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Florence real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.77%), and between 1940-1969 ( 4.36%). There's also some housing in Florence built before 1939 ( 3.47%).
Vacant housing appears to be an issue in Florence. Fully 26.69% of the housing stock is classified as vacant. Left unchecked, vacant Florence homes and apartments can be a drag on the real estate market, holding Florence real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Homes have actually lost value in Florence over the last then years, as home values have seen a decline of 24.37% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Florence home appreciation rates at 2.04%, which equates to an annual appreciation rate of 8.40%.
Appreciation rates are so strong in Florence that despite a nationwide downturn in the housing market, Florence real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Florence appreciation rates continue to be some of the highest in America, at 7.64%, which is higher than appreciation rates in 84.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Florence. Florence appreciation rates in the latest quarter were at 2.04%, which equates to an annual appreciation rate of 8.40%.
Importantly, this makes Florence one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Arizona, our data show that Florence's latest annual appreciation rate is lower than 50% of the other cities and towns in Arizona.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Florence differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Florence - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Florence real estate investment or home purchase decisions.
|$961,001 - $1,282,000||0.0|
|$641,001 - $961,000||0.2|
|$513,001 - $641,000||1.2|
|$385,001 - $513,000||0.4|
|$256,001 - $385,000||9.3|
|$128,001 - $256,000||23.5|
|$64,001 - $128,000||41.2|
|$0 - $64,000||24.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Florence HOMES|
|2000 or Newer||58.4|
|1970 - 1999||33.8|
|1940 - 1969||4.4|
|1939 or Older||3.5|
|TYPE OF Florence HOMES|
|Small Apt. Buildings||6.8|
|SIZE OF Florence HOMES|
|5 or more bedrooms||4.22|