States › New Jersey › Florence

Is Florence, NJ expensive to live in?

CheapRent takes 20 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,49415% lower than U.S. average
💵 Families earn per year (2026)$91,909about $7,659/month · 6% higher than U.S. average
🔑 House price$309,9007% lower than U.S. average

Rent is lower than in 58% of U.S. cities. A typical house costs about 3.4 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $59,760 a year. That is $29 an hour at a full-time job.

Is rent cheaper than other New Jersey cities?

Yes. Rent here is cheaper than in most of New Jersey. It is number 24 of 291 cities from cheapest to most expensive.

Florence
$1,494
Margate City
$1,655
Forked River
$2,394
Troy Hills
$3,429
Salem
$2,235
Wildwood
$1,789
Englewood Cliffs
$3,500+

How much do households earn in Florence?

Under $25k
2.3%
$25k–50k
18.5%
$50k–100k
46.3%
$100k–150k
17.6%
$150k+
10.8%

Share of households by yearly income. 28.4% of households earn $100,000 or more.

Rent by apartment size in Florence

SizeFlorenceU.S. average
1 bedroom$1,310$1,324
2 bedrooms$1,522$1,509

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Florence overall?

Everyday prices in New Jersey overall are 9% above the U.S. average (index 108.8, U.S. = 100).

Housing
134
Goods (food, clothes…)
107
Utilities
114
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Florence, so the New Jersey figure is shown.

Taxes and bills in Florence

🏛️ Property tax$6,301a year · 2.03% of home value · U.S. $3,119
⚡ Electric bill$173a month (typical) · U.S. $156

Life in Florence

Commute to work29.8 minU.S.: 26.4 min
College degree24.3%U.S.: 35.7%
Own their home66.2%U.S.: 65.2%
Below poverty line6.3%U.S.: 12.5%
Unemployment7.1%U.S.: 5.2%

Is it cheaper to rent or buy in Florence?

Renting is cheaper right now: about $656 a month less.

Renting
$1,494
Owning
$2,150

Owning assumes a typical $309,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,990 for the down payment.

Frequently asked questions

What is the average rent in Florence, NJ?

Renting in Florence costs a median of about $1,494 a month in 2026, including utilities. The New Jersey median is $2,240.

How much do I need to make to live in Florence?

To keep rent under 30% of income, you need about $59,760 a year, or $29 an hour at a full-time job.

Is Florence cheap or expensive?

Florence is rated Cheap: rent takes 19.5% of the typical household income of $91,909. It ranks 24th cheapest of 291 New Jersey cities we track.

How much are property taxes in Florence?

The median homeowner in Florence pays $6,301 a year in property taxes, about 2.03% of the median home value.

Is Florence more expensive than the national average?

Overall prices in New Jersey are 9% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Florence?

The median home value in Florence is $309,900, about 3.4 times the typical yearly household income.

5,242 people live in Florence. Numbers are typical (middle) values.