According to the most recent data on the cost of living, Franklin has an overall cost of living index of 90 which is 0.9x lower than the national index of 100.
Compared to only Indiana, Franklin has a cost of living index that's 1.0x higher than Indiana's index of 86.
The standard of living in Franklin ranks as #1,633 most affordable out of the 6,418 places we measured in Indiana. By definition, that implies Franklin ranks as the #4,785 most expensive place in the Hoosier State.
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Housing swings affordability the most between places in Indiana, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.
Home and income come data comes from the most recent US Census ACS 2014-2018.