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Cost of Living in Florence County

Is it better to rent or buy in Florence County? Explore median costs, utility estimates, and run the numbers on your own budget to see how far your income goes.

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Rent vs. Buy Affordability Calculator

Adjust the sliders to match your scenario. We recommend keeping total housing costs under 40% of your gross income.

$65,116
$769/mo

Median in area: $769

$176,948

Median in area: $176,948

$35,390

If you Rent

🔑
$997 /mo
Base Rent$769
Est. Utilities$228
% of Income18.4%
Pre-tax Residual$4,429

If you Buy

🏠
$1,417 /mo
P&I (7.205%)$961
Taxes & Ins$228
Est. Utilities$228
% of Income26.1%
Pre-tax Residual$4,009

Compare Nearby Areas

See how Florence County stacks up against neighboring areas.

countyDickinson County, MI
$875/mo
countyMarinette County, WI
$841/mo
countyForest County, WI
$599/mo
countyIron County, MI
$717/mo

Cost of Living FAQs

Is it cheaper to rent or buy in Florence County?›

Based on median housing data, renting is currently more affordable on a monthly basis in Florence County. The estimated all-in monthly cost for renting is $997, while owning a median-priced home with a 20% down payment is roughly $1,417 per month (a difference of $420).

How much do utilities cost in Florence County?›

The average monthly utility cost (electricity and natural gas) for a typical home in Florence County is approximately $228. This estimate uses local utility rate schedules combined with median energy consumption profiles.

What is a good salary to live comfortably in Florence County?›

To comfortably afford the median rent and utilities in Florence County without exceeding the recommended 30% housing-to-income threshold, a household should earn a gross salary of approximately $39,880 per year.