Florence, NJ
Population 5,027 · New Jersey
About Florence, NJ
Florence is a small town located in New Jersey with a population of 5,027 residents according to the latest US Census Bureau American Community Survey data. The median household income is $99,020 per year, which is 32% above the national median of $75,149. The median age of 38.7 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 $270,100, which is 10% above 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 $1,247, 7% above the national average of $1,163/month. Of the 1,838 total housing units, 65% are owner-occupied (1,153 units) and 35% are renter-occupied (612 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 6.6%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Florence have an average one-way commute time of 28 minutes.
Education & Demographics
20.4% of Florence residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.8% Hispanic or Latino, 6.6% Black or African American, and 2.7% Asian residents, with 13.3% of the population being foreign-born.
Cost of Living in Florence, NJ
Compared to national averages, Florence has a median household income of $99,020 (32% above the national median of $75,149). Home values average $270,100, which is 10% above the national median. Monthly rent at $1,247 is 7% above the US average of $1,163. Within New Jersey, Florence's income is 14% below the state average of $115,667, and home values are 42% below the state median of $469,644.
Why Live in Florence, NJ?
Florence offers a strong local economy with a median household income of $99,020, well above the national average, and a low poverty rate of 6.7%, better than the national average.
Florence has a population of 5,027 with a median age of 38.7 years. Compare Florence with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Florence
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ellisburg | 5,021 | $91,272 | $294,300 | Compare |
| Forked River | 4,988 | $87,455 | $404,600 | Compare |
| Beckett | 5,072 | $119,063 | $279,300 | Compare |
| Mendham | 4,977 | $223,750 | $764,000 | Compare |
| Ampere North | 4,968 | $71,192 | $358,000 | Compare |
| Brielle | 4,960 | $167,754 | $815,100 | Compare |
| Franklin | 4,938 | $90,152 | $253,100 | Compare |
| Demarest | 4,916 | $175,078 | $965,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
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, NJ?
The population of Florence, NJ is 5,027 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Florence?
The median household income in Florence, NJ is $99,020 per year, which is 32% above the national median of $75,149.
What is the median home value in Florence?
The median home value in Florence, NJ is $270,100, which is 10% 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, NJ is $1,247, which is 7% above the national average of $1,163/month.
What is the unemployment rate in Florence?
The unemployment rate in Florence, NJ is 6.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Florence, NJ a good place to live?
Florence offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,027 and a median age of 38.7, the city appeals to a broad range of residents.
How educated is Florence, NJ?
20.4% 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, NJ: median home value is $270,100 (10% above national), median rent is $1,247/month, and median household income is $99,020. The home-value-to-income ratio is 2.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Florence?
The poverty rate in Florence, NJ is 6.7%, 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, NJ?
Florence's population is 0.0% White, 1.8% Hispanic or Latino, 6.6% Black or African American, 2.7% Asian, and 6.3% two or more races. 13.3% of residents are foreign-born.