Florence cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexFlorenceAlabamaNational
Cost of living index8789100
IndexFlorenceAlabamaNational
Goods & Services index9696100
Groceries index9697100
Health care index8487100
Housing index6673100
Transportation index9492100
Utilities index104104100
A general overview of the cost of living index for Florence, AL is displayed above. In Florence, AL, the overall cost of living index is 87, which is 2% lower than the Alabama average and 13% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Florence, AL, the city's goods and services are equal to the Alabama average and 4% lower than the U.S. average.

Did you know?

  • The cost of living in Florence is 2% lower than the Alabama average.
  • The cost of living in Florence is 13% lower than the national average.
  • The cost of housing in Florence is 34% lower than the national average.
  • Alabama general sales tax is 21% lower than the national average.
  • Alabama state income tax is 10% lower than the national average.

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Salary Calculator

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Use the salary calculator to compare your current salary in Florence, AL to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Florence, AL, then you would need to earn more income in order to maintain the same standard of living. To use the Florence, AL salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$51,606$4,301$1,204$1,548
Renters$17,642$1,470$412$529
How much of your monthly income goes to housing can tell you whether or not you can afford housing in Florence, AL, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Florence, AL homeowners have a median income of $51,606. Using that number, you will come up with a maximum of $1,204 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $17,642, which means there is a maximum of $412 to be spent on the costs of renting a home or apartment.

Alabama Sales Tax

StateGeneral Sales TaxWith Max Surtax
Alabama4%10%

Alabama Income Tax

StateIncome Tax (Low)Income Tax (High)
Alabama2%5%
When assessing the complete cost of living in Florence, AL, the Alabama income tax and the Alabama sales tax percentages should unquestionably be taken into consideration. Sales taxes aren't just levies imposed onto sold goods, but they also include taxes that are charged when services are provided for a fee. The rates are different from state to state and can run has high as 7 percent. Some states have no sales tax at all. The Alabama maximum surtax is 10%, and the Alabama sales tax is 4%. By contrast, income tax is an unfortunate obligation that is charged by the government against earnings. Just like sales taxes, the rates for income taxes differ from state to state. They also decrease or increase according to the individual's tax bracket. Tax rates can run as high as 9 percent, with a minimum of zero. Income tax rates range from 2% to 5% in Alabama.

Goods & Services

ItemFlorenceNational avg.Difference
Haircut $14.17$15.569.0%
Beauty Salon $29.93$36.1117.1%
Toothpaste $2.16$2.4712.6%
Shampoo $1.03$0.967.1%
Movie $11.05$10.139.1%
Bowling $4.75$4.740.4%

Groceries

ItemFlorenceNational avg.Difference
Ground Beef $3.84$3.983.5%
Fried Chicken $1.32$1.416.0%
Milk $1.81$2.0612.3%
Potatoes $2.67$2.9810.4%
Pizza $8.49$9.4710.4%
Beer $8.18$8.797.0%

Health Care

ItemFlorenceNational avg.Difference
Optometrist $75.13$101.0425.6%
Doctor $74.33$107.4430.8%
Dentist $76.27$90.4215.6%
Ibuprofen $8.44$9.289.0%
Lipitor $431.13$426.501.1%

Housing

ItemFlorenceNational avg.Difference
Home Price $119,200.00$175,700.0032.2%
Avg. Mortgage Payment $877.10$1,133.2322.6%
Apartment Rent $569.00$920.0038.2%

Transportation

ItemFlorenceNational avg.Difference
Gasoline $1.86$1.996.9%
Tire Balancing $44.57$45.762.6%

Utilities

ItemFlorenceNational avg.Difference
All Electricity$162.64$163.810.7%
Phone $31.58$28.3911.2%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Leighton, AL80482-18%
Sheffield, AL9,06784-16%
Littleville, AL99985-15%
Tuscumbia, AL8,56586-14%
Underwood-Petersville, AL3,13986-14%
Florence, AL39,73887-13%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Huntsville, TX39,76493-7%
New Berlin, WI39,7121099%
St. Cloud, FL39,68592-8%
Romeoville, IL39,6751022%
Beaumont, CA39,62011515%
Florence, AL39,73887-13%
Source: The Florence, AL cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2016.