Florence, TX Real Estate Market

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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Florence, TX Housing Market Trends

With 1,274 people, 287 houses or apartments, and a median cost of homes of $239,853, 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 72.68% of the city's housing units. Other types of housing that are prevalent in Florence include mobile homes or trailers ( 15.12%), duplexes, homes converted to apartments or other small apartment buildings ( 6.63%), and a few row houses and other attached homes ( 3.71%).

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 49.83% owning and 50.17% 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 between 1940-1969 ( 28.12%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.88%). There's also some housing in Florence built before 1939 ( 5.84%).

Vacant housing appears to be an issue in Florence. Fully 23.87% 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

In the last 10 years, Florence has experienced some of the highest home appreciation rates of any community in the nation. Florence real estate appreciated 110.49% over the last ten years, which is an average annual home appreciation rate of 7.73%, putting Florence in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Florence definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 13.86%, which is higher than appreciation rates in 92.61% 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 4.87%, which equates to an annual appreciation rate of 20.93%.

Importantly, this makes Florence one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$239,853

Florence, TX HOME PRICES

> $1,350,000
1.9%
1.9%
$1,012,001 - $1,350,000
4.5%
4.5%
$675,001 - $1,012,000
9.4%
9.4%
$540,001 - $675,000
12.9%
12.9%
$405,001 - $540,000
12.4%
12.4%
$270,001 - $405,000
11.6%
11.6%
$135,001 - $270,000
24.1%
24.1%
$67,001 - $135,000
16.1%
16.1%
$0 - $67,000
6.9%
6.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for TX

Value Relative To Nation

Number Of Homes And Apartments:
287

Florence Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
124.75% 3.84%
6
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,407 / per month

Homeownership Rate

Owners
49.8%
49.8%
Renters
50.2%
50.2%
Vacant
23.9%
23.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
10.9%
10.9%
1970 - 1999
55.2%
55.2%
1940 - 1969
28.1%
28.1%
1939 or Older
5.8%
5.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
72.7%
72.7%
Townhomes
3.7%
3.7%
Small Apt. Buildings
6.6%
6.6%
Apt. Complexes
1.9%
1.9%
Mobile Homes
15.1%
15.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.9%
2.9%
1 Bedroom
0.0%
0.0%
2 Bedrooms
45.9%
45.9%
3 Bedrooms
43.8%
43.8%
4 Bedrooms
5.6%
5.6%
5 or more bedrooms
1.9%
1.9%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Florence

Zip Codes in Florence, TX