Market Overview
Home Prices in Florence, WI
The median home value in Florence, WI is $232,179 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.3% compared to a year ago and up 6.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Florence are priced43% below average. Florence is part of the Iron Mountain, MI-WI metro area.
Over the past five years, Florence home values have risen by approximately34.1%, reflecting strong long-term appreciation in this market.
Price History
Florence Home Price Trend
City Comparison
Florence vs. National Median
At $232,179, homes in Florence cost 43% below the national median of $410,000. This makes Florence a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Florence?
20% Down Payment
$46,436
on $232,179
Monthly P&I
$1,211/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,538/mo
incl. taxes & insurance
Income Needed
$61,520
gross annual (30% rule)
10% Down Option
$23,218
+ PMI applies
Loan Amount (20% dn)
$185,743
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Florence, WI?
The median home value in Florence is $232,179 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.3% year-over-year.
How much have home prices changed in Florence?
Over the past year, home values in Florence have increased by 4.3%. Over five years, prices have risen approximately 34.1%.
How much do I need to earn to buy a home in Florence?
To comfortably afford the median home price of $232,179 with a 20% down payment ($46,436) at today's rates (6.8%), you'd need a gross annual income of approximately $61,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Florence compare to the national average home price?
The national median home value is approximately $410,000. At $232,179, homes in Florence are 43% below the national average.
What metro area is Florence part of?
Florence is part of the Iron Mountain, MI-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.