What is the cost of living in Franklin, IN?
According to the most recent data on the cost of living, Franklin has an overall cost of living index of 96, which is 1.0x lower than the national index of 100.
Compared to Indiana, Franklin has a cost of living index that's 1.1x higher than Indiana's index of 90.
The standard of living in Franklin ranks as #99 most affordable out of the 129 places we measured in Indiana. By definition, that implies Franklin ranks as the #30 most expensive place in the Hoosier State.
For more reading on life in Franklin, check out:
Franklin Cost Of Living Vs. Indiana
Six factors go into calculating the cost of living index in Franklin. Here is how it fares on each of the criteria:
The Services index in Franklin is 96.
The Groceries index in Franklin is 100.
The Health index in Franklin is 88.
The Housing index in Franklin is 96.
The Transportation index in Franklin is 95.
The Utilities index in Franklin is 97.
| Living Expense | Franklin | Indiana | National Average |
|---|---|---|---|
| Overall | 96 | 90 | 100 |
| Services | 96 | 97 | 100 |
| Groceries | 100 | 95 | 100 |
| Health | 88 | 72 | 100 |
| Housing | 96 | 98 | 100 |
| Transportation | 95 | 94 | 100 |
| Utilities | 97 | 96 | 100 |
Franklin Cost Of Living Compared To Indiana Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Indiana, check out:
Protect your home budget Compare home warranties in Franklin Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Franklin, IN Housing Cost Breakdown
Housing swings affordability the most between places in Indiana, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Franklin is $279,167.
The Median Rent in Franklin is $1,186.
The Median Income in Franklin is $82,380.
The Home Value To Income in Franklin is 3.4x.
The Rent To Monthly Income in Franklin is 0.17x.
Franklin, IN Costs By Category
Detailed Franklin Services costs vs. Indiana
Detailed Franklin Groceries costs vs. Indiana
Detailed Franklin Health costs vs. Indiana
Detailed Franklin Transportation costs vs. Indiana
Franklin SnackAbility
Cost Of Living In Cities Around Franklin
The cost of living varies in the cities and towns around Franklin. Here's a quick look at the cost of living in the most populous nearby places:
Greenwood, IN has a cost of living index of 96, 1.0x Franklin.
Beech Grove, IN has a cost of living index of 86, 0.9x Franklin.
Bargersville, IN has a cost of living index of 107, 1.1x Franklin.
| City | Population | Cost Of Living | Vs. Franklin |
|---|---|---|---|
| Greenwood, IN | 66,029 | 96 | 1.0x |
| Beech Grove, IN | 14,913 | 86 | 0.9x |
| Bargersville, IN | 10,752 | 107 | 1.1x |
| Mooresville, IN | 9,751 | 93 | 1.0x |
| New Whiteland, IN | 5,704 | 89 | 0.9x |
| Whiteland, IN | 5,173 | 94 | 1.0x |
