Franklin Center, NJ Cost Of Living
Cost Of Living In Franklin Center, NJ Summary
Cost of living in Franklin Center 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 Center 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 Jersey, 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 Center is 144, with 100 being the average.
The cost of living index in Franklin Center is 1.4x higher than the national average.
Franklin Center ranks as the #190 cheapest in New Jersey out of 260.
Franklin Center ranks as the #5,533 cheapest out of 6,489 in the US.
The median home value in Franklin Center is $746,064.
The median income in Franklin Center is $138,643.
Table Of Contents
Franklin Center's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Franklin Center, NJ?
According to the most recent data on the cost of living, Franklin Center has an overall cost of living index of 144, which is 1.4x higher than the national index of 100.
Compared to New Jersey, Franklin Center has a cost of living index that's 1.2x higher than New Jersey's index of 122.
The standard of living in Franklin Center ranks as #190 most affordable out of the 260 places we measured in New Jersey. By definition, that implies Franklin Center ranks as the #70 most expensive place in the Garden State.
For more reading on life in Franklin Center, check out:
In New Jersey
In America
Franklin Center Cost Of Living Vs. New Jersey
Six factors go into calculating the cost of living index in Franklin Center. Here is how it fairs on each of the criteria:
The Services index in Franklin Center is 112.
The Groceries index in Franklin Center is 104.
The Health index in Franklin Center is 100.
The Housing index in Franklin Center is 238.
The Transportation index in Franklin Center is 105.
The Utilities index in Franklin Center is 110.
| Living Expense | Franklin Center | New Jersey | National Average | |
|---|---|---|---|---|
| Overall | 144 | 122 | 100 | |
| Services | 112 | 108 | 100 | |
| Groceries | 104 | 104 | 100 | |
| Health | 100 | 99 | 100 | |
| Housing | 238 | 159 | 100 | |
| Transportation | 105 | 101 | 100 | |
| Utilities | 110 | 107 | 100 | |
Franklin Center, NJ Housing Cost Breakdown
Housing swings affordability the most between places in New Jersey, 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 Center is $746,064.
The Median Rent in Franklin Center is $2,588.
The Median Income in Franklin Center is $138,643.
The Home Value To Income in Franklin Center is 5.4x.
The Rent To Monthly Income in Franklin Center is 0.22x.
| Statistic | Franklin Center | New Jersey | United States |
|---|---|---|---|
| Median Home Value | $746,064 | $564,432 | $303,400 |
| Median Rent | $2,588 | $1,653 | $1,348 |
| Median Income | $138,643 | $101,050 | $78,538 |
| Home Value To Income | 5.4x | 5.6x | 3.9x |
| Rent To Monthly Income | 0.22x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Franklin Center, NJ Costs By Category
Detailed Franklin Center Services Costs Vs. New Jersey
| Item | Franklin Center | New Jersey |
|---|---|---|
| Shampoo | $1.53 | $1.28 |
| Movie | $14.53 | $12.13 |
| Bowling | $20.98 | $18 |
| Haircut | $30.25 | $24.26 |
| Beauty Salon | $53.0 | $45.56 |
Detailed Franklin Center Groceries Costs Vs. New Jersey
| Item | Franklin Center | New Jersey |
|---|---|---|
| Ground Beef | $6.13 | $5.84 |
| Fried Chicken | $1.41 | $1.57 |
| Milk | $4.7 | $4.67 |
| Potatoes | $5.32 | $4.93 |
| Pizza | $12.59 | $12.09 |
| Beer | $11.12 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Franklin Center Health Costs Vs. New Jersey
| Item | Franklin Center | New Jersey |
|---|---|---|
| Optometrist | $129.93 | $125.68 |
| Doctor | $124.1 | $135.78 |
| Dentist | $129.94 | $113.29 |
Detailed Franklin Center Transportation Costs Vs. New Jersey
| Item | Franklin Center | New Jersey |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $72.38 | $59.92 |
Detailed Franklin Center Utilities Costs Vs. New Jersey
| Item | Franklin Center | New Jersey |
|---|---|---|
| All Electricity | $223.08 | $193.99 |
| Phone | $186.61 | $192.25 |
Franklin Center SnackAbility
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Cost Of Living In Cities Around Franklin Center
The cost of living varies in the cities and towns around Franklin Center. Here's a quick look at the cost of living in the most populous nearby places:
Westfield, NJ has a cost of living index of 178, 1.2x Franklin Center.
Somerset, NJ has a cost of living index of 130, 0.9x Franklin Center.
Middlesex, NJ has a cost of living index of 126, 0.9x Franklin Center.
| City | Population | Cost Of Living | Vs. Franklin Center |
|---|---|---|---|
| Westfield, NJ | 30,760 | 178 | 1.2x |
| Somerset, NJ | 23,851 | 130 | 0.9x |
| Middlesex, NJ | 14,518 | 126 | 0.9x |
| Bradley Gardens, NJ | 14,315 | 150 | 1.0x |
| Florham Park, NJ | 13,134 | 165 | 1.1x |
| Bound Brook, NJ | 12,023 | 120 | 0.8x |
| Martinsville, NJ | 12,016 | 159 | 1.1x |
| Manville, NJ | 10,870 | 119 | 0.8x |
| Twin Rivers, NJ | 8,315 | 118 | 0.8x |
| Bernardsville, NJ | 7,871 | 162 | 1.1x |
