Florence, AL home prices
Typical home $215,246 · +2.9% in a year · income needed $57,200
The Florence, AL metro area ranks 588 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.9% in a year and +24.4% over five years. With 20% down at 7.11%, the typical home costs about $1,334 a month including 0.38% property tax (Lauderdale County rate).
Mortgage on the typical Florence home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $43,049 | $172,197 | $1,158 | $0 | $175 | $1,334 | $57,200 |
| 10% down | $21,525 | $193,722 | $1,303 | $81 | $175 | $1,559 | $66,800 |
| 5% down | $10,762 | $204,484 | $1,376 | $85 | $175 | $1,636 | $70,100 |
| 3.5% down (FHA) | $7,534 | $211,347 | $1,422 | $95 | $175 | $1,692 | $72,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.38% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Florence area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Lauderdale County, AL | $227,549 | +3.2% | 0.38% |
| Colbert County, AL | $196,003 | +2.0% | 0.4% |
What can you afford in Alabama on your salary? · Alabama home prices · Salaries in Alabama
Frequently asked questions
How much is a house in Florence?
The typical home in the Florence, AL metro area is worth $215,246 (Zillow, September 2026).
What salary do you need to buy a house in Florence?
About $57,200 a year for the typical home with 20% down at 7.11%.