Cost of Living in Florence, MS
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
116.9
100 = national avg
+16.9 vs national average
Living Wage (1 Adult)
$51,441
per year
Living Wage (Family of 4)
$121,588
per year
Cost Index by Category
Housing107.1
Food116.0
Transportation132.1
Healthcare112.8
Utilities111.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,097
per month
2 Bedroom
$1,288
per month
The overall cost of living index in Florence is 116.9, which is 16.9% above the national average. Housing costs are above the national average at an index of 107.1. A single adult needs to earn approximately $51,441 per year to cover basic expenses.