Italy · Europe · Population: 380,000
Florence is moderately affordable compared to major global cities, with steady growth in property values. The city has affordable rents compared to global standards. At $350,000 average home price in Italy, buyers should consider the 9.2x price-to-income ratio when planning a purchase.
| Average Home Price | $350,000 |
| Price per sqm | $4,800 |
| Price-to-Income Ratio | 9.2x |
| Mortgage Rate | 3.8% |
| 1-Year Price Change | +3.2% |
| 1-Bedroom Apartment | $800/mo |
| 3-Bedroom Apartment | $1,400/mo |
| Rent-to-Income Ratio | 22% |
| Median Household Income | $38,000/year |
| Years to Buy (at median income) | 9.2 years |
| Local Currency | EUR |
With a price-to-income ratio of 9.2x, Florence requires significant savings to purchase property. At a mortgage rate of 3.8%, monthly payments could consume a large share of income. Home prices have increased 3.2% in the past year.
Cities worldwide with home prices closest to Florence
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