Florence, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Florence Neighborhoods Since 2000




Florence, CO Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Florence Housing Market Information

With a population of 3,865, 1,528 total housing units (homes and apartments), and a median house value of $145,307, Florence real estate values are some of the lowest in Colorado, although compared to real estate around the nation, Florence homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Florence, accounting for 70.40% of the city's housing units. Other types of housing that are prevalent in Florence include mobile homes or trailers ( 8.88%), large apartment complexes or high rise apartments ( 7.74%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.86%).

The most prevalent building size and type in Florence are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.90% owning and 36.10% renting.

There is a lot of housing in Florence built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Florence built before 1939 ( 30.68%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.50%). There's also some housing in Florence built between 2000 and later ( 14.11%).

Vacant housing appears to be an issue in Florence. Fully 13.03% 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.

Florence Home Appreciation Rates

Appreciation rates for homes in Florence have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 3.20%, which ranks in the top 50% nationwide. This equates to an annual average Florence house appreciation rate of 0.32%.

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 14.55%, which is higher than appreciation rates in 99.23% 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 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Colorado, our data show that Florence's latest annual appreciation rate is higher than 90% of the other cities and towns in Colorado.

Average Home Values

 

Median Home Value:
$145,307

Florence, CO HOME PRICES

Value Range
> $1,205,000 0.1
$903,001 - $1,205,000 0.0
$602,001 - $903,000 0.3
$481,001 - $602,000 0.6
$361,001 - $481,000 4.2
$241,001 - $361,000 10.9
$120,001 - $241,000 45.5
$60,001 - $120,000 23.0
$0 - $60,000 15.5

Very Low for CO
Average for Nation

Value Relative to Nation Value Relative to State
52.0098441345365 83.8427947598253

Number Of Homes And Apartments:
1,528

Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
21.10% 1.12% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$975 / per month

Homeownership Rate

Homeownership
Owners 63.90
Renters 36.10
Vacant 13.03

Housing Market Details

 

Age of Homes

AGE OF Florence HOMES
2000 or Newer 14.1
1970 - 1999 36.7
1940 - 1969 18.5
1939 or Older 30.7

Types of Homes

TYPE OF Florence HOMES
Single-Family 70.4
Townhomes 5.5
Small Apt. Buildings 5.9
Apt. Complexes 7.7
Mobile Homes 8.9
Other 1.6

Home Size

SIZE OF Florence HOMES
No Bedroom 3.59
1 Bedroom 12.29
2 Bedrooms 25.55
3 Bedrooms 39.39
4 Bedrooms 15.65
5 or more bedrooms 3.53

Popular Neighborhoods in Florence

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Zip Codes in Florence, CO