Florence, MS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Florence Neighborhoods Since 2000




Florence, MS 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 4,363 people, 1,614 houses or apartments, and a median cost of homes of $132,324, 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 69.99% of the town's housing units. Other types of housing that are prevalent in Florence include duplexes, homes converted to apartments or other small apartment buildings ( 13.69%), large apartment complexes or high rise apartments ( 9.18%), and a few mobile homes or trailers ( 7.14%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Florence. Owner-occupied housing accounts for 68.38% of Florence's homes, and 67.17% have either three or four bedrooms, which is average sized relative to America.

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 ( 45.02%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.44%).

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 3.12%, which ranks in the top 50% nationwide. This equates to an annual average Florence house appreciation rate of 0.31%.

Over the last year, Florence appreciation rates have trailed the rest of the nation. In the last twelve months, Florence's appreciation rate has been 0.21%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Florence were at -0.74%, which equates to an annual appreciation rate of -2.93%.

Notably, Florence's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 

Median Home Value:
$132,324

Florence, MS HOME PRICES

Value Range
> $1,059,000 0.6
$794,001 - $1,059,000 0.0
$529,001 - $794,000 0.3
$424,001 - $529,000 0.0
$318,001 - $424,000 2.7
$212,001 - $318,000 14.8
$106,001 - $212,000 42.6
$53,001 - $106,000 22.5
$0 - $53,000 16.5

Very High for MS
Average for Nation

Value Relative to Nation Value Relative to State
58.5960389077698 15.9183673469388

Number Of Homes And Apartments:
1,614

Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MS*
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
32.28% 1.63% 4 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,126 / per month

Homeownership Rate

Homeownership
Owners 68.38
Renters 31.62
Vacant 3.12

Housing Market Details

 

Age of Homes

AGE OF Florence HOMES
2000 or Newer 45.0
1970 - 1999 50.5
1940 - 1969 4.4
1939 or Older 0.0

Types of Homes

TYPE OF Florence HOMES
Single-Family 70.0
Townhomes 0.0
Small Apt. Buildings 13.7
Apt. Complexes 9.2
Mobile Homes 7.1
Other 0.0

Home Size

SIZE OF Florence HOMES
No Bedroom 2.82
1 Bedroom 4.86
2 Bedrooms 22.45
3 Bedrooms 58.82
4 Bedrooms 8.34
5 or more bedrooms 2.70

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Zip Codes in Florence, MS