Florence, MN is a small town located in Steele County, Minnesota. It is home to many small businesses such as Crossroads Cafe, Florence Floral and Gift Shop, and Pahl's Market. The cost of living in Florence is relatively low compared to other cities; rent for a two bedroom apartment is $750 which is much lower than the US average of $1,430. Additionally, the Grocery Cost Index in Florence sits at 93 versus 100 in the US, further reinforcing that the cost of everyday items remains low.
Florence has an unemployment rate of 4.2%. The US average is 6.0%.
Florence has seen the job market increase by 0.1% over the last year. Future job growth over the next ten years is predicted to be 22.0%, which is lower than the US average of 33.5%.
Tax Rates for Florence
- The Sales Tax Rate for Florence is 7.9%. The US average is 7.3%.
- The Income Tax Rate for Florence is 7.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Florence
- The average income of a Florence resident is $29,293 a year. The US average is $28,555 a year.
- The Median household income of a Florence resident is $38,571 a year. The US average is $69,021 a year.