Florence, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Florence, OR 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 8,649, 4,331 total housing units (homes and apartments), and a median house value of $231,796, Florence real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Florence, accounting for 54.98% of the city's housing units. Other types of housing that are prevalent in Florence include mobile homes or trailers ( 21.29%), large apartment complexes or high rise apartments ( 13.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.67%).

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 ( 24.48%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.22%). There's also some housing in Florence built before 1939 ( 3.04%).

Vacant housing appears to be an issue in Florence. Fully 17.76% 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

Florence's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Florence during the period has been just -1.78%, which is lower than 80% of US communities.

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 6.94%, which is higher than appreciation rates in 80.96% 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 1.01%, which equates to an annual appreciation rate of 4.11%.

Relative to Oregon, our data show that Florence's latest annual appreciation rate is lower than 70% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$231,796

Florence, OR HOME PRICES

Value Range
> $1,204,000 0.4
$902,001 - $1,204,000 0.4
$602,001 - $902,000 2.0
$481,001 - $602,000 1.4
$361,001 - $481,000 9.4
$241,001 - $361,000 25.7
$120,001 - $241,000 41.0
$60,001 - $120,000 16.3
$0 - $60,000 3.4

Low for OR
High for Nation

Value Relative to Nation Value Relative to State
25.5185749443338 65.7004830917874

Number Of Homes And Apartments:
4,331

Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
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
65.69% 2.97% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$922 / per month

Homeownership Rate

Homeownership
Owners 60.96
Renters 39.04
Vacant 17.76

Housing Market Details

 

Age of Homes

AGE OF Florence HOMES
2000 or Newer 24.5
1970 - 1999 59.3
1940 - 1969 13.2
1939 or Older 3.0

Types of Homes

TYPE OF Florence HOMES
Single-Family 55.0
Townhomes 2.3
Small Apt. Buildings 6.7
Apt. Complexes 13.1
Mobile Homes 21.3
Other 1.6

Home Size

SIZE OF Florence HOMES
No Bedroom 1.08
1 Bedroom 12.74
2 Bedrooms 38.15
3 Bedrooms 42.82
4 Bedrooms 4.42
5 or more bedrooms 0.78

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Zip Codes in Florence, OR