Florence, MS is a great place to live for those looking for more affordable living costs. According to the content above, the average 2 bedroom rent in Florence is $960, which is significantly lower than the US rate of $1,430. The grocery cost index in Florence is also 101 compared to 100 in the US; this suggests that groceries are slightly more expensive in Florence, though not by a significant margin. Local companies in Florence include Brookdale Senior Living, Magnolia Regional Health Center, D&T Electric Company, and Quality Custom Cabinetry & Millwork Inc. All these local businesses make Florence an attractive option for those looking to save on cost of living when compared with other places throughout the US.
Florence has an unemployment rate of 4.1%. The US average is 6.0%.
Florence has seen the job market increase by 1.0% over the last year. Future job growth over the next ten years is predicted to be 35.6%, which is higher than the US average of 33.5%.
Tax Rates for Florence
- The Sales Tax Rate for Florence is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Florence is 5.0%. 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 $24,786 a year. The US average is $28,555 a year.
- The Median household income of a Florence resident is $84,186 a year. The US average is $69,021 a year.