Florence, IN Profile: Facts & Data

The primary coordinate point for Florence is located at latitude 38.7842 and longitude -84.9244 in Switzerland County. The formal boundaries for the Florence Census Designated Place encompass a land area of 0.14 sq. miles and a water area of 0.02 sq. miles. Switzerland County is in the Eastern time zone (GMT -5).

The Florence Census Designated Place has a U1 Census Class Code which indicates a census designated place with an official federally recognized name. It also has a Functional Status Code of "S" which identifies a statistical entity.

A Census Designated Place (CDP) is a statistical counterpart to a self-governing (incorporated) place such as a city, town, or village. A CDP is not a legal entity and has no governmental functions.

Florence, IN Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	66 (100%)
Population in Households	66 (100.0%)
Population in Families	52 (78.8%)
Population in Group Quarters¹	0
Population Density	489
Diversity Index²	17


INCOME
Median Household Income	$52,275
Average Household Income	$91,784
% of Income for Mortgage⁴	0%
Per Capita Income	$38,939
Wealth Index⁵	83
Socioeconomic Status Index⁶	Moderate (62.0)

HOUSING
Total HU (Housing Units)	34 (100%)
Owner Occupied HU	19 (55.9%)
Renter Occupied HU	9 (26.5%)
Vacant Housing Units	6 (17.6%)
Median Home Value	$162,500
Average Home Value	$268,421
Housing Affordability Index³	0

HOUSEHOLDS
Total Households	28
Average Household Size	2.36
Family Households	19
Average Family Size	3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

Florence, IN - Peer Comparisons by Rank and Percentile

The table below compares Florence to the other 976 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	2.27%	-0.30%
Households	2.70%	0.70%
Families		2.02%
Median Household Income		8.79%
Per Capita Income		4.56%
Owner Occupied HU		6.47%

Variable Description	Rank	Percentile
Total Population	# 891	9th
Population Density	# 656	33rd
Median Household Income	# 853	13th
Housing Affordability Index	# 83	9th
Per Capita Income	# 330	66th
Diversity Index	# 521	47th

Florence, IN Profile: Facts & Data

Florence, Indiana - Basic Facts

Florence, IN Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Florence, IN - Peer Comparisons by Rank and Percentile

Florence, IN - Most Popular Things to Do

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Switzerland County