Total monthly cost of ownership
Cost to Own a Home in Florence, Colorado
A $228,000 home here costs
$1,774per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $76,000 a year.
A standard mortgage calculator would have told you $1,243. The real number is $531 higher every month, 43% more than the payment most buyers budget for.
Compare Fremont County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Florence from a five-year rolling sample, and with about 3,870 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Fremont County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Florence against Fremont County and Colorado
| Measure | Florence | Fremont County |
|---|---|---|
| Median home value | $228,300 | $282,100 |
| Median property tax | $1,100 | $1,081 |
| Effective tax rate | 0.482% | 0.383% |
| Median gross rent | $694 | $1,036 |
| Population | 3,870 | 49,394 |
The weather behind that power bill
Florence sits in Fremont County, which averages a high of 89.2°F in its hottest month and a low of 18.4°F in its coldest, with 13.72" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 751 cooling and 5,440 heating degree days, which is what sets the $116 electricity line above.
See the full climate breakdown for Fremont County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Fremont County
Full Fremont County cost breakdown · Every county in Colorado
Talk to someone who works this market
These are Florence averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Florence every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Florence I already own here and may sell
Common questions
How much does it cost to own a home in Florence?
A $228,000 home in Florence, Colorado costs approximately $1,774 per month with 20% down at 7.24%. That is $1,243 principal and interest, $92 property tax, $66 homeowners insurance, $184 utilities and $190 set aside for maintenance.
What is the property tax rate in Florence?
Florence has an effective property tax rate of 0.482%, based on a median home value of $228,300 and median real estate taxes of $1,100. That is higher than the Fremont County average of 0.383%.
What is the average home price in Florence?
The median owner-occupied home value in Florence, Colorado is $228,300, against $282,100 across Fremont County.
Is it cheaper to rent or buy in Florence?
Median gross rent in Florence is $694 a month, against $1,774 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Florence?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Florence, Colorado at today's rate takes a household income of roughly $76,000 a year. That covers the full $1,774 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Florence, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Colorado.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.