Nestled in the heart of Tuscany, Florence is a city that exudes an unparalleled blend of history, art, and cultural richness. As the birthplace of the Renaissance, this captivating Italian destination is a veritable open-air museum.
Beyond its artistic treasures, Florence boasts a vibrant contemporary culture, with world-class dining, fashion, and a lively social scene. Owning a piece of this enchanting city allows one to immerse themselves in a way of life that celebrates beauty and tradition.
With its unmatched cultural heritage and picturesque landscapes, it’s no wonder Florence is a dream destination for international buyers seeking an authentic taste of Italian life.
This post will dive into housing costs for the most sought-after neighborhoods as well as what makes each neighborhood unique.
Housing Prices in Florence
The housing market in Florence offers a range of options to suit different budgets, though prices tend to be on the higher end. This is because of the city’s global appeal and limited housing stock within the historic center.
For those seeking a pied-à-terre or small apartment, prices range between €300,000 to €500,000 ($325,000 to $540,000) for a one-bedroom unit. Move closer to the Duomo or into the idyllic Oltrarno district, and prices jump to between €500,000 and €1 million ($540,000 to $1,080,000) for a typical two-bedroom apartment. Spacious renovated apartments and grand palazzo homes in prime locations can easily surpass €2 million ($2,160,000).
For those craving countryside living, restored villas on the rolling hills surrounding Florence start around €1.5 million ($1,620,000). These prices can climb into the tens of millions for large, premium estates.
Despite the high price tags, Florence’s world-class culture and lifestyle keep demand strong among international buyers.
Cathedral of Santa Maria del Fiore
How is the city of Florence divided?
The historic city center of Florence, which encompasses the Renaissance core within the original city walls, is roughly divided into four quartieri or quarters – Santa Croce, Santa Maria Novella, San Giovanni, and Santo Spirito. These quarters radiate outwards from the Santa Maria del Fiore cathedral in the heart of Florence.
Santa Croce: Known for its iconic Basilica di Santa Croce, and the namesake Piazza, the neighborhood occupies the northeast quarter of the city. According to Idealista, one of Italy’s primary listing platforms, residential prices here average €5,400 per sqm (€500 per sqft).
Santa Maria Novella: Radiating to the northwest of the Cathedral, the neighborhood of Florence’s Central Station is dotted with hotels and B&Bs at every corner. Those who are looking to buy property in Florence’s Santa Maria Novella neighborhood will find stiff competition and average asking prices around €5,700 per sqm (€530 per sqft).
San Giovanni / San Marco: Engulfing the heart of the city and radiating to the North, this neighborhood includes both the Duomo and the University of Florence. While average asking prices are slightly lower at €5,000 per sqm, they reach higher peaks in the city’s historic core, where apartments facing a Piazza or offering views of the beautiful city skyline easily surpass €8,000 per sqm (€740 per sqft).
Santo Spirito / San Frediano: One of the city’s most desirable residential areas is located immediately south of the Arno River, and referred to by locals as ‘Oltrarno’. Its neighborhoods of Santo Spirito and San Frediano are prized for their artisanal workshops, bohemian vibe, and scenic narrow streets. Apartments in Oltrarno are currently marketed at an average asking price of €5,400 per sqm (€500 per sqft).
View of the Arno river and Ponte Vecchio from Oltrarno
Other Districts
Radiating further out from the center are other residential districts like Campo di Marte, Fortezza, Coverciano, and Galluzzo, each with their own local character. In addition, the comuni (municipalities) surrounding Florence like Fiesole, Settignano and Bagno a Ripoli form part of the Florentine metropolitan area but have separate administrative boundaries.
San Niccolò
On the southern shore of the Arno river, developing East of Ponte Vecchio, the district of San Niccolò deserves a special mention. Partially removed from the chaos of the city center, the district exudes a distinct medieval feel thanks to its narrow streets and the tower of Porta San Niccolò, one of few medieval city defenses still standing. The San Niccolò property market is laden with historic residences and noble palaces, offering a taste of old-world grandeur. Residential space in this famed area of town is marketed at an average price of €5,500 per sqm (€510 per sqft), but can fluctuate much higher.
Bonus: Campo di Marte
For those hoping to buy property in Florence without breaking the bank, the Campo di Marte district just northeast of the historic center offers larger, family-sized apartments and houses at lower prices. While less picturesque than the Renaissance areas, it has a genuine local vibe, markets, parks, and excellent transport connections.
No matter which neighborhood, living in Florence allows you to experience world-class art, architecture and culture at every turn, while immersing yourself in the inimitable beauty and history of this Tuscan jewel.
Rooftop view shows Florentine architecture from various centuries
Wrapping Up
Living in Florence is truly a one-of-a-kind experience that immerses residents in a world art, culture, and history around every winding street and piazza. Beyond having some of the world’s most prized artistic and architectural masterpieces at your doorstep, Florentine life offers daily pleasures unavailable anywhere else.
Evenings can be spent indulging in perfect aperitivo cocktails and cicchetti snacks. Or shopping the city’s famed artisan workshops and markets for leather, paper, and gold goods. These are just some of the special perks that connect modern Florentines to centuries-old traditions.
The mild Mediterranean climate allows for almost year-round al fresco dining and strolls through the city’s lush gardens and hills. With easy access to the splendid Tuscan countryside of vineyards, olive groves, and medieval hill towns, living in Florence means having the best of both urban and rural worlds.
For those who embrace the Renaissance ideal of immersing mind, body and soul in creativity and beauty, there is truly no place like this Tuscan jewel to call home. For the more investment-minded, the same reasons that make this city a wonderful place to experience and explore, also make it one of Italy’s top short term rental markets.
