Franklin, NH Cost Of Living
Cost Of Living In Franklin, NH Summary
Cost of living in Franklin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Franklin is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in New Hampshire, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Franklin is 112, with 100 being the average.
The cost of living index in Franklin is 1.1x higher than the national average.
Franklin ranks as the #5 cheapest in New Hampshire out of 26.
Franklin ranks as the #3,863 cheapest out of 6,489 in the US.
The median home value in Franklin is $373,115.
The median income in Franklin is $69,870.
Table Of Contents
Franklin's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Franklin, NH?
According to the most recent data on the cost of living, Franklin has an overall cost of living index of 112, which is 1.1x higher than the national index of 100.
Compared to New Hampshire, Franklin has a cost of living index that's 1.0x lower than New Hampshire's index of 116.
The standard of living in Franklin ranks as #5 most affordable out of the 26 places we measured in New Hampshire. By definition, that implies Franklin ranks as the #21 most expensive place in the Granite State.
For more reading on life in Franklin, check out:
In New Hampshire
In America
Franklin Cost Of Living Vs. New Hampshire
Six factors go into calculating the cost of living index in Franklin. Here is how it fairs on each of the criteria:
The Services index in Franklin is 121.
The Groceries index in Franklin is 101.
The Health index in Franklin is 111.
The Housing index in Franklin is 98.
The Transportation index in Franklin is 111.
The Utilities index in Franklin is 132.
| Living Expense | Franklin | New Hampshire | National Average | |
|---|---|---|---|---|
| Overall | 112 | 116 | 100 | |
| Services | 121 | 118 | 100 | |
| Groceries | 101 | 103 | 100 | |
| Health | 111 | 114 | 100 | |
| Housing | 98 | 122 | 100 | |
| Transportation | 111 | 110 | 100 | |
| Utilities | 132 | 132 | 100 | |
Franklin, NH Housing Cost Breakdown
Housing swings affordability the most between places in New Hampshire, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Franklin is $373,115.
The Median Rent in Franklin is $1,088.
The Median Income in Franklin is $69,870.
The Home Value To Income in Franklin is 5.3x.
The Rent To Monthly Income in Franklin is 0.19x.
| Statistic | Franklin | New Hampshire | United States |
|---|---|---|---|
| Median Home Value | $373,115 | $501,649 | $303,400 |
| Median Rent | $1,088 | $1,423 | $1,348 |
| Median Income | $69,870 | $95,628 | $78,538 |
| Home Value To Income | 5.3x | 5.2x | 3.9x |
| Rent To Monthly Income | 0.19x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Franklin, NH Costs By Category
Detailed Franklin Services Costs Vs. New Hampshire
| Item | Franklin | New Hampshire |
|---|---|---|
| Shampoo | $1.25 | $1.28 |
| Movie | $13.07 | $12.13 |
| Bowling | $25.44 | $18 |
| Haircut | $26.58 | $24.26 |
| Beauty Salon | $67.97 | $45.56 |
Detailed Franklin Groceries Costs Vs. New Hampshire
| Item | Franklin | New Hampshire |
|---|---|---|
| Ground Beef | $5.47 | $5.84 |
| Fried Chicken | $1.44 | $1.57 |
| Milk | $4.75 | $4.67 |
| Potatoes | $5.01 | $4.93 |
| Pizza | $11.66 | $12.09 |
| Beer | $9.82 | $10.41 |
| Toothpaste | $3.73 | $3.7 |
Detailed Franklin Health Costs Vs. New Hampshire
| Item | Franklin | New Hampshire |
|---|---|---|
| Optometrist | $115.0 | $125.68 |
| Doctor | $164.0 | $135.78 |
| Dentist | $136.17 | $113.29 |
Detailed Franklin Transportation Costs Vs. New Hampshire
| Item | Franklin | New Hampshire |
|---|---|---|
| Gasoline | $3.33 | $3.46 |
| Tire Balancing | $86.0 | $59.92 |
Detailed Franklin Utilities Costs Vs. New Hampshire
| Item | Franklin | New Hampshire |
|---|---|---|
| All Electricity | $294.4 | $193.99 |
| Phone | $186.72 | $192.25 |
Franklin SnackAbility
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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:
Concord, NH has a cost of living index of 117, 1.0x Franklin.
Dover, NH has a cost of living index of 123, 1.1x Franklin.
Laconia, NH has a cost of living index of 113, 1.0x Franklin.
| City | Population | Cost Of Living | Vs. Franklin |
|---|---|---|---|
| Concord, NH | 44,219 | 117 | 1.0x |
| Dover, NH | 33,070 | 123 | 1.1x |
| Laconia, NH | 16,982 | 113 | 1.0x |
| Durham, NH | 10,577 | 132 | 1.2x |
| Exeter, NH | 10,138 | 122 | 1.1x |
| Hanover, NH | 8,520 | 155 | 1.4x |
| South Hooksett, NH | 5,806 | 123 | 1.1x |
| Newmarket, NH | 5,730 | 127 | 1.1x |
