Florence, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Florence Neighborhoods Since 2000




Florence, KY 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 32,227, 12,877 total housing units (homes and apartments), and a median house value of $137,151, house prices in Florence are solidly below the national average.

Single-family detached homes are the single most common housing type in Florence, accounting for 44.81% of the city's housing units. Other types of housing that are prevalent in Florence include large apartment complexes or high rise apartments ( 43.99%), row houses and other attached homes ( 6.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.45%).

People in Florence primarily live in small (one, two or no bedroom) single-family detached homes. Florence has a mixture of owner-occupied and renter-occupied housing.

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 between 2000 and later ( 25.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.47%). There's also some housing in Florence built before 1939 ( 1.63%).

Florence Home Appreciation Rates

Real estate appreciation rates in Florence's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.33% during the period.

NeighborhoodScout's data show that during the latest twelve months, Florence's appreciation rate, at 4.26%, has been at or slightly above the national average. In the latest quarter, Florence's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Kentucky, our data show that Florence's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. 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.

Average Home Values

 

Median Home Value:
$137,151

Florence, KY HOME PRICES

Value Range
> $1,085,000 0.4
$814,001 - $1,085,000 0.4
$543,001 - $814,000 0.2
$434,001 - $543,000 0.4
$325,001 - $434,000 2.7
$217,001 - $325,000 15.0
$108,001 - $217,000 60.3
$54,001 - $108,000 14.8
$0 - $54,000 5.7

High for KY
Average for Nation

Value Relative to Nation Value Relative to State
56.1877417086605 27.8195488721804

Number Of Homes And Apartments:
12,877

Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
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
12.64% 0.69% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$921 / per month

Homeownership Rate

Homeownership
Owners 50.79
Renters 49.21
Vacant 6.91

Housing Market Details

 

Age of Homes

AGE OF Florence HOMES
2000 or Newer 25.4
1970 - 1999 53.5
1940 - 1969 19.5
1939 or Older 1.6

Types of Homes

TYPE OF Florence HOMES
Single-Family 44.8
Townhomes 6.3
Small Apt. Buildings 4.5
Apt. Complexes 44.0
Mobile Homes 0.1
Other 0.4

Home Size

SIZE OF Florence HOMES
No Bedroom 4.65
1 Bedroom 11.92
2 Bedrooms 34.32
3 Bedrooms 31.04
4 Bedrooms 15.40
5 or more bedrooms 2.67