Cost of Living in Florence, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
52.8
100 = national avg
-47.2 vs national average
Living Wage (1 Adult)
$23,229
per year
Living Wage (Family of 4)
$54,905
per year
Cost Index by Category
Housing44.4
Food70.1
Transportation40.1
Healthcare76.1
Utilities70.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$698
per month
2 Bedroom
$916
per month
The overall cost of living index in Florence is 52.8, which is 47.2% below the national average. Housing costs are below the national average at an index of 44.4. A single adult needs to earn approximately $23,229 per year to cover basic expenses.