Florence, MT
Population 993 · Montana
About Florence, MT
Florence is a small community located in Montana with a population of 993 residents according to the latest US Census Bureau American Community Survey data. The median household income is $97,850 per year, which is 30% above the national median of $75,149. The median age of 53.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Florence features a median home value of $460,000, which is 88% above the national median of $244,900. This places Florence in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $694, 40% below the national average of $1,163/month. Of the 458 total housing units, 83% are owner-occupied (360 units) and 17% are renter-occupied (76 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Florence shows an unemployment rate of 9.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Florence have an average one-way commute time of 45 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
35.0% 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 6.2% White, 8.7% Hispanic or Latino, 0.0% Black or African American, and 3.3% Asian residents, with 0.0% of the population being foreign-born.
How Florence Ranks in Montana
Cost of Living in Florence, MT
Compared to national averages, Florence has a median household income of $97,850 (30% above the national median of $75,149). Home values average $460,000, which is 88% above the national median. Monthly rent at $694 is 40% below the US average of $1,163. Within Montana, Florence's income is 49% above the state average of $65,821, and home values are 59% above the state median of $288,703.
Why Live in Florence, MT?
Florence offers a strong local economy with a median household income of $97,850, well above the national average, and rent that’s lower than the national average at $694/month, and a well-educated community where 35.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 6.8%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $460,000. However, Florence’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Florence has a population of 993 with a median age of 53.8 years. Compare Florence with other cities to see how it stacks up, or explore all cities in Montana.
Similar Cities Near Florence
Cities in Montana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Superior | 995 | $43,750 | $260,300 | Compare |
| Browning | 990 | $34,318 | $121,100 | Compare |
| Absarokee | 998 | $57,212 | $258,100 | Compare |
| Philipsburg | 1,012 | $40,096 | $304,200 | Compare |
| Helena Flats | 1,014 | $88,125 | $544,900 | Compare |
| Vaughn | 970 | $54,250 | $165,600 | Compare |
| Ponderosa Pines | 969 | $86,102 | $264,600 | Compare |
| Pray | 1,018 | $102,143 | $601,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Montana
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, MT?
The population of Florence, MT is 993 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Montana.
What is the median household income in Florence?
The median household income in Florence, MT is $97,850 per year, which is 30% above the national median of $75,149.
What is the median home value in Florence?
The median home value in Florence, MT is $460,000, which is 88% above 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, MT is $694, which is 40% below the national average of $1,163/month.
What is the unemployment rate in Florence?
The unemployment rate in Florence, MT is 9.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Florence, MT a good place to live?
Florence offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 993 and a median age of 53.8, the city appeals to established professionals and retirees.
How educated is Florence, MT?
35.0% of residents in Florence aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Florence?
Key cost-of-living indicators for Florence, MT: median home value is $460,000 (88% above national), median rent is $694/month, and median household income is $97,850. The home-value-to-income ratio is 4.7x, a moderate figure by national standards.
What is the poverty rate in Florence?
The poverty rate in Florence, MT is 6.8%, 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, MT?
Florence's population is 6.2% White, 8.7% Hispanic or Latino, 0.0% Black or African American, 3.3% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.