Commercial Real Estate Market in Florence, KY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
79 active listings and 1,347 off-market properties in Florence, KY. Commercial property asks $39/SF to buy and $9.98/SF/Yr to lease.
Market Trends
Florence, KY spans 22.1 square miles in Boone County, Kentucky. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Florence, KY runs 20.2% across the South region in 2025, up from 14.4% in 2019.
Vacancy Rate % in South region
Retail
Retail vacancy in Florence, KY runs 5.4% across the South region in 2025, down from 7% in 2020.
Vacancy Rate % in South region
Industrial
Industrial vacancy in Florence, KY runs 7.9% across the South region in 2025, up from 6% in 2019. Nearly 2.3x the 2022 low of 3.5%.
Vacancy Rate % in South region
Multifamily
Multifamily vacancy in Florence, KY runs 11.3% across the South region in 2025, up from 8.5% in 2022.
Vacancy Rate % in South region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Planned_development 50.4%
- Residential 32.5%
- Industrial 4.4%
- Commercial 3.9%
- Agricultural 2.5%
- Open space 2.2%
Largest Zones share of zoned land by district
Suburban Residential One
Suburban Residential Two
Commercial Two Planned Development Mall Road
Commercial Two Planned Development Houston Donaldson Study Corridor Conditional District
Suburban Residential One Planned Development Conditional District
Suburban Residential One (SR-1)
The purpose of the district is to provide a low density, residential environment whose dwelling types and densities are typical of a suburban character
Market overview
Demographics & Economy
Florence, KY has 54,183 residents in 23,640 households. Density runs 2,450 people per square mile. Median household income here is $75,582 and median gross rent $1,240 a month.
54,183
Population
23,640
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
22.1 sq mi
ZIP Area
2,450
Density / Sq Mi
$75,582
Median Household Income
$43,501
Median Earnings
$1,240
Median Rent
$210,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Hopeful Heights | — | — |
| Elsmere | — | — |
| Erlanger | — | $13.17 |
| Devon | — | — |
Commercial property in Florence, KY asks $39/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Florence?
Commercial property in Florence, KY asks an average of $39 per square foot. The 5 most recent recorded sales traded at a median of $151/SF.
How much does it cost to lease commercial space in Florence?
Asking lease rates in Florence, KY average $9.98 per square foot per year.
Where does Realmo's Florence market data come from?
Realmo compiles Florence, KY figures from 8 recent recorded sales, 41 active sale listings, 38 active lease listings, 1,347 tracked off-market properties, the current Florence zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 41 active for-sale and 38 active for-lease listings in Florence, KY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 7,136 zoned acres across 95 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at South region level, retail vacancy is reported at South region level and industrial vacancy is reported at South region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
