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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,376, 4,571 total housing units (homes and apartments), and a median house value of $466,998, 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 66.10% of the city's housing units. Other types of housing that are prevalent in Florence include mobile homes or trailers ( 18.26%), duplexes, homes converted to apartments or other small apartment buildings ( 6.49%), and a few large apartment complexes or high rise apartments ( 6.39%).
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 64.43% owning and 35.57% 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 2000 and later ( 23.93%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.74%). There's also some housing in Florence built before 1939 ( 3.09%).
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 119.24% over the last ten years, which is an average annual home appreciation rate of 8.17%, putting Florence in the top 20% 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.
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 3.73%, 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 0.79%, which equates to an annual appreciation rate of 3.20%.
Relative to Oregon, our data show that Florence's latest annual appreciation rate is higher than 80% of the other cities and towns in Oregon.
$466,998
for Oregon
for nation
4,571
$1,667 / per month