Lauderdale County · Alabama · South · 42k residents
Florence, AL: economy, jobs & business costs
The site-selection read on Florence: labor costs, talent, corporate tax, energy, and business activity, with the Alabama median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $933/wk. Alabama's corporate income tax rate is 6.5%. Commercial electricity averages 13.6¢/kWh.
Compare Florence side by side
Avg. weekly wage
$933/wk
Corporate income tax
6.5%
Bachelor's degree or higher
34.5%
Commercial electricity
13.6¢/kWh
Economic momentum
How fast Florence's economy is moving, ranked against the US cities we track.
69/100
Heating
Ranks Florence's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $196,300 |
| Price per sq. ft. | $150 |
| Property tax rate | 0.4% |
| 1-bedroom rent | $624/mo |
| 2-bedroom rent | $877/mo |
| State & local income tax | 4.41% |
| Sales tax | 9.3% |
| Corporate income tax | 6.5% |
| Avg. weekly wage | $933/wk |
| Bachelor's degree or higher | 34.5% |
| Commercial electricity | 13.6¢/kWh |
| Businesses per 1k residents | 27.5/1k |
| Wage: Software developer | $116,260 |
| Wage: Registered nurse | $66,360 |
| Wage: General manager | $97,600 |
| Wage: Customer service | $37,520 |
| Wage: Warehouse worker | $30,570 |
| Wage: Heavy truck driver | $48,140 |
| Wage: Electrician | $59,770 |
| Wage: Retail salesperson | $28,980 |
| Cost of living index | 77 |
| Groceries index | 97 |
| Utilities | $190/mo |
| Transit pass | $45/mo |
| Gas price | $2.95/gal |
| Healthcare index | 92 |
| Childcare (per child) | $750/mo |
| Median household income | $52,174 |
| Unemployment rate | 2.9% |
| Population | 42k |
| Crime index | 55/100 |
| School rating | 4.3/10 |
| Walkability | 30/100 |
| Disaster risk | 86/100 |
| Avg. commute | 25 min |
| Sunny days / year | 215 days |
| July high | 89°F |
| January low | 31°F |
| Annual snowfall | — |
| Home price YoY | +2.0% |
| Home price MoM | +0.2% |
| Rent YoY | +2.4% |
| Rent MoM | -0.6% |
| Employment (jobs) YoY | +0.3% |
| Building permits YoY | +119.1% |
| Ocean coast | 312 mi |
| Big lake | 132 mi |
| Mountains | 131 mi |
| Major airport | 51 mi |
| Ski resort | 240 mi |
Popular comparisons
Nearby
- Muscle Shoals, AL · 17k
- Athens, AL · 29k
- Decatur, AL · 57k
- Hartselle, AL · 16k
- Madison, AL · 60k
Similar size
- Prattville, AL · 39k
- Vestavia Hills, AL · 39k
- Phenix City, AL · 38k
- Alabaster, AL · 34k
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Real listings in Florence
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Florence a good place to run a business?
- Alabama's corporate income tax rate is 6.5%; average weekly wages in the surrounding labor market run $933/wk; commercial electricity averages 13.6¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Florence, AL?
- Florence indexes at 77 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $877/mo and a acs median home value of $196,300.
- How much does a house cost in Florence?
- The acs median home value in Florence is $196,300 (Census ACS estimate; individual listings vary).
- How much is rent in Florence?
- A two-bedroom in Florence rents for about $877/mo.