There are currently 21,804 real estate properties in Florence, AL, with a median automated valuation model (AVM) price of $207,439.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Florence, AL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Florence, AL, is $261,286.00, with the most expensive house in Florence, AL, topping out at $7,782,500.00 and the cheapest home in Florence, AL, clocking in at $10,602.00. In other words, there’s something for every potential homebuyer or savvy investor in Florence, AL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Florence, AL, is on a rollercoaster ride. The average rent price in Florence, AL, is $1,054.00. Indeed, when looking to rent in Florence, AL, you can expect to pay as little as $400.00 or as much as $2,380.00, with the average rent median estimated to be $1,030.00. The good news is that finding an affordable and desirable property to rent in Florence, AL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Florence is located in Lauderdale, Alabama, with an estimated municipal population of 40,797 residents. All of the best foreclosed homes for sale in Florence are located in the following zip code areas on Foreclosure.com: 35633 35630 35631 35632. The estimated population per square kilometer (.62 miles) in Florence is 594.
So, about how much do homes cost in Florence? The most recent median value of resident-owned homes in Florence is 136,702. An estimated 52.1 percent of households in Florence own their homes, with an average family size of 2.86. The median household income in Florence is 40,526, with12.7 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Florence, the median commute time of resident workers (in minutes) is 18.9. And last, but certainly not least, are you looking for homes to rent in Florence? If so, the average rent price paid by renters in Florence is 643, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Florence, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Florence is 35.5, split between 47.4 percent male versus 52.6 female. The percentage of residents who report being married in Florence is 42.2, with an average family size of 2.86.
The percentage of residents who report their race in Florence is as follows:
| White | 76.6% |
| Black / African American | 20.1% |
| Asian | 0.9% |
| American Indian / Alaskan Native | 0.3% |
| Native Hawaiian / Other Pacifc Islander | 0.2% |
| Multi-racial | 1.6% |
| Other | 0.4% |
Looking for family-friendly neighborhoods in and/or near Florence? Or maybe you are searching for 55+ active adult communities in and/or near Florence?
The percentage of residents who report their age in Florence is as follows:
| Under 10 | 10.7% |
| Aged 10-19 | 11.5% |
| 20s | 20.6% |
| 30s | 12.6% |
| 40s | 9.1% |
| 50s | 10.7% |
| 60s | 11.4% |
| 70s | 8.1% |
| 80+ | 5.3% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Florence with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Florence.
How do you know that living in -- or moving to -- Florence is right where you need to be? Perhaps you grew up in Florence or already live nearby; therefore, the decision to buy a home in Florence is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Florence for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Florence:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Florence.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Florence can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Florence, meanwhile, can field multiple offers from more qualified buyers.
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