Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Florence's property market is included in our pack
If you're considering buying a rental property in Florence, understanding what yields you can realistically expect is essential before making any investment decision.
This guide breaks down gross and net rental yields, rent levels by apartment size, the best neighborhoods for returns, and all the costs that will eat into your profits in Florence.
We constantly update this blog post with fresh data so you always have the latest picture of Florence's rental market.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Florence.
What rental yields can I realistically get from an apartment in Florence?
What's the average gross rental yield for apartments in Florence as of 2026?
As of early 2026, the estimated average gross rental yield for apartments in Florence sits at around 5.5%, which means for every €100,000 you invest in a property, you can expect roughly €5,500 in annual rent before any expenses.
That said, most apartment investments in Florence fall within a realistic gross yield range of 5.0% to 6.2%, depending on where you buy and how well the property rents.
The main factor that causes yields to vary significantly in Florence is the gap between the historic center (where purchase prices are very high but rents don't scale proportionally) and residential districts like Rifredi or Isolotto (where lower purchase prices combined with strong tenant demand push yields higher).
Compared to other major Italian cities, Florence's gross yields are competitive with Milan (which often sits around 4% to 5% in prime areas) and slightly below cities like Bologna or Turin where yields can reach 6% to 7% in some neighborhoods.
What's the average net rental yield for apartments in Florence as of 2026?
As of early 2026, the estimated average net rental yield for apartments in Florence falls between 3.6% and 4.4%, which is what remains after you subtract all the recurring costs from your gross rental income.
Most apartment investors in Florence can realistically expect net yields in the range of 3.0% to 5.0%, with the lower end reflecting conservative assumptions (higher vacancy, older buildings with more maintenance) and the upper end representing well-managed properties with minimal void periods.
The single biggest expense that eats into your gross yield in Florence is the combination of condominium service charges and building maintenance, which together can consume 12% to 23% of your annual rent, especially in older historic buildings with elevators, central heating systems, and frequent facade restoration requirements.
By the way, you will find much more detailed data in our property pack covering the real estate market in Florence.
What's the typical rent-to-price ratio for apartments in Florence in 2026?
As of early 2026, the typical rent-to-price ratio for apartments in Florence is around 5.5% annually, which translates to roughly 0.46% per month (meaning monthly rent equals about 0.46% of the purchase price).
Most apartment transactions in Florence show rent-to-price ratios ranging from 5.0% to 6.2% annually, or 0.42% to 0.52% monthly, depending on the specific property and location.
In Florence, the highest rent-to-price ratios tend to appear in residential districts like Rifredi, Isolotto, and Legnaia, where purchase prices per square meter are significantly lower than the historic center but rental demand remains strong thanks to university access and hospital proximity.
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How much rent can I charge for an apartment in Florence?
What's the typical tenant budget range for apartments in Florence right now?
The typical monthly tenant budget for renting an apartment in Florence ranges from €600 to €3,000 (approximately $630 to $3,150 USD), depending on the tenant profile and what type of unit they're seeking.
Tenants targeting mid-range apartments in Florence, such as young professionals or couples looking for a decent one or two-bedroom unit, typically budget between €1,100 and €1,800 per month (around $1,150 to $1,900 USD).
For high-end or luxury apartments in Florence, particularly renovated units with air conditioning in desirable areas like Oltrarno or near Piazza della Signoria, tenants are prepared to pay €1,800 to €3,000 or more per month (approximately $1,900 to $3,150 USD).
We have a blog article where we update the latest data about rents in Florence here.
What's the average monthly rent for a 1-bed apartment in Florence as of 2026?
As of early 2026, the estimated average monthly rent for a 1-bed apartment in Florence is around €1,000 to €1,100 (approximately $1,050 to $1,150 USD), based on a typical unit size of 45 to 55 square meters.
At the entry level, a decent 1-bed apartment in Florence rents for €800 to €950 per month ($840 to $1,000 USD), which typically means a smaller unit (around 40 square meters) in a residential district like Novoli or Rifredi, possibly without air conditioning or an elevator.
In the mid-range, a typical 1-bed in Florence commands €950 to €1,250 per month ($1,000 to $1,310 USD), which gets you a well-maintained unit with good natural light, maybe furnished, in areas like Campo di Marte or the outer edges of the historic center.
For a luxury 1-bed apartment in Florence, expect to pay €1,300 to €1,600 or more per month ($1,365 to $1,680 USD), which means a fully renovated unit with air conditioning, quality finishes, and a prime location in Santo Spirito, Santa Croce, or overlooking the Arno.
What's the average monthly rent for a 2-bed apartment in Florence as of 2026?
As of early 2026, the estimated average monthly rent for a 2-bed apartment in Florence is around €1,450 to €1,650 (approximately $1,520 to $1,730 USD), based on a typical unit size of 70 to 80 square meters.
At the entry level, a decent 2-bed apartment in Florence rents for €1,200 to €1,400 per month ($1,260 to $1,470 USD), which typically means an older building in districts like Isolotto or Legnaia, functional but perhaps needing some cosmetic updates.
In the mid-range, a typical 2-bed in Florence commands €1,400 to €1,800 per month ($1,470 to $1,890 USD), which gets you a comfortable apartment in good condition, possibly with a small balcony, in neighborhoods like Gavinana or the residential parts of Campo di Marte.
For a luxury 2-bed apartment in Florence, expect to pay €2,000 to €2,500 or more per month ($2,100 to $2,625 USD), which means a beautifully renovated unit with air conditioning, elevator access, and a sought-after location in Oltrarno, San Frediano, or the historic core.
What's the average monthly rent for a 3-bed apartment in Florence as of 2026?
As of early 2026, the estimated average monthly rent for a 3-bed apartment in Florence is around €2,000 to €2,300 (approximately $2,100 to $2,415 USD), based on a typical unit size of 95 to 110 square meters.
At the entry level, a decent 3-bed apartment in Florence rents for €1,700 to €2,000 per month ($1,785 to $2,100 USD), which typically means an older building in family-friendly residential areas like Galluzzo or Coverciano, practical for families but not recently renovated.
In the mid-range, a typical 3-bed in Florence commands €2,000 to €2,500 per month ($2,100 to $2,625 USD), which gets you a spacious apartment in good condition with multiple bathrooms, in neighborhoods like Gavinana or the quieter parts of Campo di Marte near parks and schools.
For a luxury 3-bed apartment in Florence, expect to pay €2,800 to €3,500 or more per month ($2,940 to $3,675 USD), which means a prestigious address with high ceilings, period features, modern systems, and proximity to the best international schools or the most desirable historic streets.
How fast do well-priced apartments get rented in Florence?
A well-priced apartment in Florence typically gets rented within 2 to 4 weeks, assuming the property is correctly positioned for its target tenant pool and doesn't have any deal-breaking issues like lack of heating clarity or poor natural light.
The typical vacancy rate for apartments in Florence is relatively low, with most landlords experiencing 2% to 5% annual vacancy when they price competitively and maintain their units well.
The main factors that cause some apartments to rent faster than others in Florence are air conditioning (crucial for the hot Tuscan summers), transparent heating arrangements (central versus autonomous heating matters a lot to tenants), elevator access in buildings above the second floor, and proximity to key transport nodes like Santa Maria Novella station or the university campuses at Novoli.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost in Florence.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Italy versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Which apartment type gives the best yield in Florence?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Florence as of 2026?
As of early 2026, studios and 1-bed apartments typically offer the best rental yields in Florence, mainly because they have the strongest tenant demand (students, young professionals, expats) combined with lower total purchase prices that make the rent-to-price math more favorable.
In terms of typical gross yield ranges in Florence, studios and 1-beds tend to deliver 5.5% to 6.5%, 2-beds usually fall in the 5.0% to 5.8% range, and 3-beds often come in at 4.5% to 5.5% because rent doesn't scale proportionally with the higher purchase price.
The main reason smaller units outperform in Florence is the city's specific tenant mix: the University of Florence brings constant student demand, the hospital at Careggi attracts medical professionals, and the tourism-adjacent economy creates a steady flow of expats and short-term workers who need compact, well-located apartments.
Which features are best if you want a good yield for your apartment in Florence?
The features that most positively impact rental yield in Florence are air conditioning (non-negotiable for summer rentals), autonomous heating (tenants strongly prefer controlling their own heating bills), good natural light (many historic buildings have dark internal units that rent slowly), and walkability to Santa Maria Novella station, the university at Novoli, or Careggi hospital.
In Florence, middle floors (second to fourth) are generally easiest to rent because they balance light and views with accessibility, while ground floors can be dark and noisy, and top floors without elevators deter many tenants in the city's older buildings.
Apartments with balconies or terraces do command higher rents in Florence, often 5% to 10% more than comparable units without outdoor space, because private outdoor areas are rare in the historic center and highly valued during the warm months.
Building features like elevators and parking significantly impact rentability in Florence: an elevator is almost essential for units above the second floor (without one, you'll lose a large portion of potential tenants), while private parking is a genuine luxury in the historic core and can add €100 to €200 per month to your rent.
Don't buy the wrong property, in the wrong area of Florence
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Which neighborhoods give the best rental demand for apartments in Florence?
Which neighborhoods have the highest rental demand for apartments in Florence as of 2026?
As of early 2026, the neighborhoods with the highest rental demand for apartments in Florence are Centro Storico (including Duomo, Santa Croce, Santo Spirito, and San Frediano), Campo di Marte, Rifredi, Novoli, and Gavinana, each attracting different tenant profiles but all showing consistently strong occupancy.
The main demand driver in these Florence neighborhoods is proximity to key employment and education anchors: the historic center attracts expats and high-income professionals, while Rifredi and Novoli benefit from their closeness to Careggi hospital and the University of Florence campus, creating structural demand that doesn't depend on tourism alone.
In these high-demand neighborhoods, well-priced apartments typically rent within 2 to 3 weeks, and vacancy rates stay in the 2% to 4% range because tenant depth is strong across multiple segments (students, medical workers, corporate relocations).
One emerging neighborhood gaining rental demand momentum in Florence is Isolotto-Legnaia, where improving transport connections and more affordable purchase prices are attracting both tenants priced out of central areas and investors seeking better yield math.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Florence.
Which neighborhoods have the highest yields for apartments in Florence as of 2026?
As of early 2026, the neighborhoods with the highest rental yields for apartments in Florence are Rifredi, Isolotto-Legnaia, and parts of Novoli and Statuto, where purchase prices per square meter are significantly lower than the historic center but rental demand remains robust.
In these top-yielding Florence neighborhoods, gross rental yields typically range from 5.8% to 6.5%, compared to 4.5% to 5.2% in the most expensive parts of Centro Storico where buyers often pay a premium for prestige.
The main reason these neighborhoods offer higher yields is the price-to-rent disconnect: areas near Careggi hospital and the university have structurally supported rental demand (medical staff, students, researchers) but haven't experienced the same price inflation as tourist-heavy zones, so the yield math simply works better for investors.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Italy. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
Should I do long-term rental or short-term rental in Florence?
Is short-term rental legal for apartments in Florence as of 2026?
As of early 2026, short-term rentals are legal for apartments in Florence, but they are subject to significant regulations at both the national and local level that you must understand before committing to this strategy.
The main legal requirements for operating a short-term rental in Florence include registering with the national CIN system (managed through the Ministry of Tourism's BDSR portal), complying with Florence's specific rules for "locazioni turistiche brevi" that came into force in May 2025, and respecting additional constraints if your property falls within the UNESCO historic core.
For Airbnb-style rentals in Florence, you must obtain a CIN (Codice Identificativo Nazionale) through the national tourism database at bdsr.ministeroturismo.gov.it, display this code on all listings, and follow the city's local registration and safety requirements, which vary depending on the exact zone of your property.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Florence.
What's the gross yield difference short-term vs long-term in Florence in 2026?
As of early 2026, short-term rentals in Florence can generate gross yields of 9% to 14% on paper (based on nightly rates and potential occupancy), compared to 5% to 6% for long-term rentals, but the actual net difference is much smaller once you account for all the extra costs.
The typical gross yield range is roughly 5% to 6.2% for long-term rentals versus 9% to 14% for short-term rentals in Florence, with the short-term figures heavily dependent on achieving strong occupancy in a competitive tourist market.
The main additional costs that reduce the net yield advantage of short-term rentals in Florence include platform fees (typically 3% to 15% of revenue), professional cleaning between guests (€50 to €100 per turnover), higher utility bills, furnishing and linen replacement, and management fees that can reach 20% to 25% of revenue for full-service operators.
To actually outperform a long-term rental in Florence, a short-term rental typically needs to achieve at least 55% to 65% annual occupancy, and after all costs, many owners find the net yield advantage is only 0 to 2 percentage points higher than a simpler long-term strategy.
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What costs will eat into my net yield for an apartment in Florence?
What are building service charges as a % of rent in Florence as of 2026?
As of early 2026, the typical building service charge (spese condominiali) for apartments in Florence represents around 8% to 15% of your monthly rent, which translates to roughly €80 to €180 per month (approximately $85 to $190 USD) for a standard apartment.
The realistic range of building service charges in Florence covers 8% to 20% of monthly rent, depending on the building's age, amenities, and management structure, with charges at the lower end for simpler buildings and at the higher end for those with elevators, concierge, or central heating.
In Florence specifically, the services that typically justify higher-than-average charges are centralized heating systems (common in older historic buildings where you pay a share based on unit size regardless of actual use), regular facade maintenance required by heritage regulations, and professional building administrators who manage the complex condominium relationships in multi-owner historic palazzi.
What annual maintenance budget should I assume for an apartment in Florence right now?
The typical annual maintenance budget apartment owners should assume in Florence is around €1,200 to €2,100 (approximately $1,260 to $2,200 USD) for a standard 60 square meter unit, which works out to roughly €20 to €35 per square meter per year.
The realistic range of annual maintenance costs in Florence is €15 to €45 per square meter (€900 to €2,700 for a 60 square meter apartment, or $945 to $2,835 USD), with newer buildings in good condition at the lower end and older historic properties requiring more frequent attention at the higher end.
The most common maintenance expenses apartment owners face in Florence are humidity-related repairs (Florence's climate and older building stock make damp a recurring issue), periodic window and shutter maintenance (traditional wooden shutters need regular care), boiler servicing and occasional replacement, and contributions to building-wide works like roof repairs or facade restoration that the condominium votes on periodically.
What property taxes should I expect for an apartment in Florence as of 2026?
As of early 2026, the typical annual property tax (IMU) for an investment apartment in Florence runs between €1,050 and €1,800 (approximately $1,100 to $1,890 USD) for a property with a market value around €300,000, which represents roughly 0.35% to 0.60% of market value.
The realistic range of property taxes in Florence varies from around 0.30% to 0.65% of market value annually, depending on the property's cadastral classification, its official cadastral value (which is typically much lower than market value), and whether any reductions apply to your situation.
Property taxes in Florence are calculated based on the cadastral value (rendita catastale) of your apartment, not its market value: the cadastral value is multiplied by a coefficient (typically 160 for residential properties), and then the municipal IMU rate is applied to that figure, which is why the effective tax burden feels lower than the headline rate suggests.
The main property tax exemption in Florence applies to your primary residence (abitazione principale), which is exempt from IMU, but as a foreign investor with a rental property, this exemption typically won't apply to you, so you should budget for the full IMU amount.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Florence.
How much does landlord insurance cost for an apartment in Florence in 2026?
As of early 2026, the typical annual landlord insurance cost for an apartment in Florence is around €250 to €450 (approximately $265 to $475 USD) for standard coverage that includes building liability and basic contents protection.
The realistic range of annual landlord insurance costs in Florence runs from €200 to €600 ($210 to $630 USD), with basic policies at the lower end and comprehensive coverage (including water damage, earthquake add-ons, and higher liability limits for short-term rentals) pushing costs toward the upper end.
What's the typical property management fee for apartments in Florence as of 2026?
As of early 2026, the typical property management fee for long-term rental apartments in Florence is around 6% to 10% of the rent collected (roughly €70 to €150 per month, or $75 to $160 USD, for a €1,200 monthly rent), plus a one-time letting fee when finding new tenants.
The realistic range of property management fees in Florence is 6% to 12% of rent for ongoing management, while letting or tenant placement fees typically run one month's rent or 10% to 15% of the annual rent depending on the agency and negotiation.
Standard property management services in Florence typically include rent collection, handling tenant communications and minor issues, coordinating repairs with contractors, managing the relationship with the building administrator, and ensuring compliance with lease terms, though full-service packages that include furnishing and short-term rental management cost significantly more.
We made this infographic to show you how property prices in Italy compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Florence, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Idealista (Sales Data) | One of Italy's largest property portals with consistent methodology. | We used it to anchor purchase prices per square meter for Florence and its districts. We paired this with rent data to compute gross yields. |
| Idealista (Rental Data) | Major portal with large listing coverage and reliable rent tracking. | We used it to establish market asking rents per square meter. We converted monthly figures to annual rent for yield calculations. |
| Bank of Italy Housing Survey | Italy's central bank with structured real estate agent surveys. | We used it to validate market tightness and time-on-market trends. We applied these indicators to support our vacancy and demand estimates. |
| Comune di Firenze (IMU Page) | Official city tax page with adopted municipal rates. | We used it to ground property tax calculations for non-primary residences. We converted cadastral formulas into effective market value burdens. |
| Agenzia delle Entrate (OMI) | Italian tax agency's official real estate market observatory. | We used it as a triangulation point for price and rent bands by area. We confirmed that portal-based numbers align with official benchmarks. |
| Comune di Firenze (STR Rules) | City's official page for short-term rental regulations. | We used it to describe Florence's local restrictions effective in 2025-2026. We framed short-term rental feasibility by zone based on these rules. |
| Ministry of Tourism (BDSR/CIN) | National platform for tourism database and CIN registration. | We used it to confirm the national CIN requirement for short-term rentals. We outlined compliance steps for investors as of early 2026. |
| Altroconsumo | Italy's leading consumer advocacy organization. | We used it to understand condominium expense structures and allocations. We applied their guidance to estimate service charge percentages. |
| AirROI | Structured STR data portal with published market KPIs. | We used it to estimate short-term rental revenue potential in Florence. We compared STR yields against long-term rental alternatives. |
| Inside Airbnb | Transparent, research-friendly dataset on STR supply. | We used it as a triangulation reference on short-term rental supply patterns. We avoided relying solely on commercial STR dashboards. |
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