Cost of Living in Florence, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
80.9
100 = national avg
-19.1 vs national average
Living Wage (1 Adult)
$35,587
per year
Living Wage (Family of 4)
$84,114
per year
Cost Index by Category
Housing81.1
Food82.5
Transportation88.1
Healthcare86.0
Utilities85.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$834
per month
2 Bedroom
$973
per month
The overall cost of living index in Florence is 80.9, which is 19.1% below the national average. Housing costs are below the national average at an index of 81.1. A single adult needs to earn approximately $35,587 per year to cover basic expenses.