HomeKentuckyBoone CountyFlorence
Florence, Kentucky: commercial real estate data.
Florence is a Census city of 32,803 people across 11.18 square miles of land, in Boone County. Median household income is $71,003, 57.5 percent of occupied homes are owned, and the SBA record carries 86 7(a) approvals to borrowers here worth $42.1 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Florence
What Florence is
- Census place typecity
- Land area11.18 sq mi
- Water area0.03 sq mi
- Population per square mile of land2,935
- County holding the largest share of its areaBoone County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Florence
How many people live in Florence
- Population32,803
- Median age38.9
- Population under 186,775
- Share under 1820.7 percent
- Population 65 and over6,440
- Share 65 and over19.6 percent
- Households13,926
- Family households7,949
- Share of households that are families57.1 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Florence
Income and work in Florence
- Median household income$71,003
- Per capita income$40,622
- Civilian labor force17,010
- Employed16,477
- Unemployed533 plus or minus 173
- Unemployment rate3.1 percent plus or minus 1.0
- Adults 25 and over23,145
- Adults 25 and over with a high school diploma or higher90.8 percent
- Adults 25 and over with a bachelor degree or higher26.4 percent
- Adults 25 and over with a graduate degree8.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Florence
Housing in Florence
- Housing units14,499
- Occupied units13,926
- Vacant units573 plus or minus 252
- Vacancy rate4.0 percent plus or minus 1.7
- Owner occupied8,010
- Renter occupied5,916
- Ownership rate57.5 percent
- Median owner-occupied home value$210,700
- Median gross rent, monthly$1,329
- Annual rent as a share of median income22.5 percent
- Single family units7,636
- Share single family52.7 percent
- Units in buildings of two or more6,833
- Share in buildings of two or more47.1 percent
- Mobile homes30 plus or minus 31
- Median year structure built1985
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Florence
How Florence gets to work
- Workers 16 and over who commute14,496
- Commuting under 15 minutes4,609
- Share commuting under 15 minutes31.8 percent
- Commuting 30 minutes or more3,800
- Share commuting 30 minutes or more26.2 percent
- Drove alone76.9 percent
- Carpooled8.6 percent plus or minus 3.1
- Public transport0.9 percent plus or minus 0.8
- Walked0.0 percent
- Worked from home11.4 percent plus or minus 2.6
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Florence
SBA loans in Florence (7(a))
- Approvals86
- Gross approval$42,068,900
- Average approval$489,173
- Median approval$185,350
- Ninetieth percentile approval$1,001,500
- Largest approval$5,000,000
- Jobs supported1,401
- Jobs per approval16.3
- Loans with a final outcome19
- Paid in full18
- Charged off1
- Median term120 months
- Share on real estate terms of 20 years or more18.6 percent
- Share to franchises23.3 percent
- Distinct lenders27
- Distinct industries by NAICS53
Counted by borrower city: approvals to borrowers whose address is in Florence, in any county, FY2020 to FY2026. Only 19 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Florence
SBA loans in Florence (504)
- Approvals27
- Gross approval$22,334,000
- Average approval$827,185
- Median approval$489,000
- Largest approval$3,142,000
- Jobs supported279
- Loans with a final outcome9
- Charged off0
- Median term240 months
- Distinct CDCs5
Counted by borrower city: approvals to borrowers whose address is in Florence, in any county, FY2010 to FY2026. Only 9 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Florence
Flood risk in Florence
- NFIP communityCity of Florence
- NFIP community number210238
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date03/21/23
The City of Florence participates in the National Flood Insurance Program as community 210238 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Boone County, not Florence
Boone County context, not Florence figures
- Establishments in Boone County3,163
- Covered employment, Boone County102,941
- Average annual pay, Boone County$59,189
- Housing units permitted, Boone County1,430
Every figure in this section is published for Boone County as a whole and is not a measurement of Florence.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
Florence questions, answered from the record.
How many people live in Florence, Kentucky?
32,803, in 13,926 households. Florence city covers 11.18 square miles of land, which is 2,935 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Florence in?
Boone County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Florence?
$71,003. The median owner-occupied home is valued at $210,700. Median gross rent is $1,329 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Florence businesses?
86 7(a) approvals totaling $42.1 m since FY2020, across 27 lenders, median approval $185,350, plus 27 504 approvals worth $22.3 m since FY2010. These count approvals to borrowers whose address is in Florence, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Florence borrowers get paid back?
No rate is published for Florence. Only 19 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Florence in the National Flood Insurance Program?
Yes. Florence appears in the FEMA Community Status Book as Florence, city of, community 210238, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Florence figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Boone County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Florence.
Is zoning published for Florence?
No. Nothing on this page presents parcel level zoning.
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