Affordable

What Salary Do You Need to Live in Florence?

To afford a 2-bedroom in Florence, you need to earn at least $53,880/year based on estimated fair market rent data. The median household income here is $67,352, which means the typical resident is $13,472 above the threshold.

Census ACS Data Pop. 32,056

Salary Required by Bedroom Size

Bedroom	Monthly Rent	Monthly Income	Annual Salary	vs. Median
Studio	$943	$3,143	$37,720	$-29,632
1 Bedroom	$1,118	$3,727	$44,720	$-22,632
2 Bedroom BENCHMARK	$1,347	$4,490	$53,880	$-13,472
3 Bedroom	$1,643	$5,477	$65,720	$-1,632
4 Bedroom	$2,021	$6,737	$80,840	+$13,488

Affordability Breakdown

Where the required salary line crosses above Florence's median income — housing becomes unaffordable for the typical resident.

Required Salary Median Income

Income vs. Rent Snapshot

Median Income

$67,352

Annual household

2BR Required Salary

$53,880

Under 30% rule

Income Gap

+$13,472

Surplus

Verdict

Affordable

Ratio: 24.0%

The 30% Rule Calculator

Enter your annual salary to see what you can afford in Florence

Your Annual Salary

Pre-filled with Florence's median household income

Max monthly rent you can afford$1,684

Studio

$943/mo

1 BR

$1,118/mo

2 BR

$1,347/mo

3 BR

$1,643/mo

4 BR

$2,021/mo

Your salary is $0 above the median income in Florence.

Salary Comparison by Bedroom

Bars left of the marker line are affordable for Florence's median earner. Bars to the right require above-median income.

Affordable Above Median Median Income

What This Means If You're Moving to Florence

Living in Florence is well within reach for most median-income earners. With a $13,472 cushion between what residents earn and what a 2-bedroom requires, households in Florence typically have meaningful financial flexibility after housing costs.

For remote workers or relocators evaluating Florence, a studio at $943/month offers an even more aggressive savings rate. Even a 3-bedroom at $1,643/month remains accessible for dual-income households earning above $65,720.

To live comfortably with room for non-housing expenses, a break-even salary of approximately $80,820 would position you well — though many residents in Florence manage on less given the favorable rent-to-income dynamics.

Economic Outlook

Local Job Market & Housing Dynamics

Affording rent isn't just about housing prices—it's heavily dependent on local employment opportunities and the strength of the job market in Florence, Kentucky.

With a total population of 32,056, the city supports an active civilian workforce of 16,442 people. A strong employment base often indicates a stable economy, which is crucial when committing to a lease requiring a $53,880 annual salary. The ratio of employed residents to the total population provides insight into the local economic health and competition for both jobs and housing.

Employed Workforce

16,442

Active civilian employees in Florence

Frequently Asked Questions About Renting in Florence

What salary do I need to live in Florence, Kentucky?

To afford a 2-bedroom in Florence under the 30% rule, you need an annual salary of at least $53,880. The median household income in Florence is $67,352.

Can I afford a 2-bedroom in Florence on $67,352?

The affordability verdict for Florence is "Affordable". The rent-to-income ratio is 24.0%, meaning median earners have a $13,472 surplus.

What is the average rent in Florence compared to median income?

The median gross rent in Florence is $1,118/month. With a median household income of $67,352, residents spend approximately 24.0% of their income on rent.

What salary do I need for a studio in Florence?

A studio in Florence rents for approximately $943/month. Under the 30% rule, you need an annual salary of $37,720 to afford this.

Is Florence considered an affordable place to live?

Based on the surplus of $13,472 and an affordability verdict of "Affordable", Florence is considered a affordable rental market when comparing the required 2-bedroom salary of $53,880 to the local median household income.

How Florence Compares

Other cities in Kentucky with salary requirements