Florence, KY
Population 32,334 · Kentucky
About Florence, KY
Florence is a mid-sized city located in Kentucky with a population of 32,334 residents according to the latest US Census Bureau American Community Survey data. The median household income is $68,508 per year, which is 9% below the national median of $75,149. The median age of 40.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Florence features a median home value of $196,200, which is 20% below the national median of $244,900. This positions Florence in a moderately priced market relative to the rest of the country. Median monthly rent is $1,199, 3% above the national average of $1,163/month. Of the 14,637 total housing units, 59% are owner-occupied (8,325 units) and 41% are renter-occupied (5,705 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Florence shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 9.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Florence have an average one-way commute time of 23.8 minutes.
Education & Demographics
26.3% of Florence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 4.6% White, 0.9% Hispanic or Latino, 0.5% Black or African American, and 1.5% Asian residents, with 8.3% of the population being foreign-born.
How Florence Ranks in Kentucky
Cost of Living in Florence, KY
Compared to national averages, Florence has a median household income of $68,508 (9% below the national median of $75,149). Home values average $196,200, which is 20% below the national median. Monthly rent at $1,199 is 3% above the US average of $1,163. Within Kentucky, Florence's income is 3% above the state average of $66,273, and home values are 8% above the state median of $182,504.
Why Live in Florence, KY?
Florence offers affordable housing with a median home value of $196,200, below the US average of $244,900, and a strong job market with an unemployment rate of just 2.7%, and a low poverty rate of 9.7%, better than the national average. Additionally, the city features short commute times averaging just 23.8 minutes.
Potential considerations include median household income ($68,508) that falls below the national average. However, Florence’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Florence has a population of 32,334 with a median age of 40.5 years. Compare Florence with other cities to see how it stacks up, or explore all cities in Kentucky.
Similar Cities Near Florence
Cities in Kentucky with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Elizabethtown | 31,870 | $56,250 | $223,200 | Compare |
| Nicholasville | 31,625 | $67,514 | $210,700 | Compare |
| Hopkinsville | 31,011 | $47,428 | $140,200 | Compare |
| Richmond | 35,498 | $48,223 | $205,900 | Compare |
| Independence | 29,024 | $98,653 | $240,500 | Compare |
| Jeffersontown | 28,988 | $78,185 | $236,800 | Compare |
| Frankfort | 28,452 | $54,438 | $171,600 | Compare |
| Henderson | 27,994 | $47,176 | $151,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Kentucky
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Florence With Other Cities
Frequently Asked Questions about Florence
What is the population of Florence, KY?
The population of Florence, KY is 32,334 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Kentucky.
What is the median household income in Florence?
The median household income in Florence, KY is $68,508 per year, which is 9% below the national median of $75,149.
What is the median home value in Florence?
The median home value in Florence, KY is $196,200, which is 20% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Florence?
The median monthly rent in Florence, KY is $1,199, which is 3% above the national average of $1,163/month.
What is the unemployment rate in Florence?
The unemployment rate in Florence, KY is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Florence, KY a good place to live?
Florence offers a moderate cost of living, affordable housing, and a strong job market. With a population of 32,334 and a median age of 40.5, the city appeals to a broad range of residents.
How educated is Florence, KY?
26.3% of residents in Florence aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Florence?
Key cost-of-living indicators for Florence, KY: median home value is $196,200 (20% below national), median rent is $1,199/month, and median household income is $68,508. The home-value-to-income ratio is 2.9x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Florence?
The poverty rate in Florence, KY is 9.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Florence, KY?
Florence's population is 4.6% White, 0.9% Hispanic or Latino, 0.5% Black or African American, 1.5% Asian, and 6.0% two or more races. 8.3% of residents are foreign-born.