New Franklin, OH Cost Of Living
Cost Of Living In New Franklin, OH Summary
Cost of living in New 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 New 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 Ohio, 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 New Franklin is 95, with 100 being the average.
The cost of living index in New Franklin is 0.9x lower than the national average.
New Franklin ranks as the #175 cheapest in Ohio out of 289.
New Franklin ranks as the #1,954 cheapest out of 6,489 in the US.
The median home value in New Franklin is $237,151.
The median income in New Franklin is $88,306.
Table Of Contents
New Franklin's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in New Franklin, OH?
According to the most recent data on the cost of living, New Franklin has an overall cost of living index of 95, which is 0.9x lower than the national index of 100.
Compared to Ohio, New Franklin has a cost of living index that's 1.0x higher than Ohio's index of 93.
The standard of living in New Franklin ranks as #175 most affordable out of the 289 places we measured in Ohio. By definition, that implies New Franklin ranks as the #114 most expensive place in the Buckeye State.
For more reading on life in New Franklin, check out:
In Ohio
In America
New Franklin Cost Of Living Vs. Ohio
Six factors go into calculating the cost of living index in New Franklin. Here is how it fairs on each of the criteria:
The Services index in New Franklin is 94.
The Groceries index in New Franklin is 102.
The Health index in New Franklin is 95.
The Housing index in New Franklin is 87.
The Transportation index in New Franklin is 98.
The Utilities index in New Franklin is 101.
| Living Expense | New Franklin | Ohio | National Average | |
|---|---|---|---|---|
| Overall | 95 | 93 | 100 | |
| Services | 94 | 101 | 100 | |
| Groceries | 102 | 103 | 100 | |
| Health | 95 | 97 | 100 | |
| Housing | 87 | 74 | 100 | |
| Transportation | 98 | 102 | 100 | |
| Utilities | 101 | 100 | 100 | |
New Franklin, OH Housing Cost Breakdown
Housing swings affordability the most between places in Ohio, 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 New Franklin is $237,151.
The Median Rent in New Franklin is $1,101.
The Median Income in New Franklin is $88,306.
The Home Value To Income in New Franklin is 2.7x.
The Rent To Monthly Income in New Franklin is 0.15x.
| Statistic | New Franklin | Ohio | United States |
|---|---|---|---|
| Median Home Value | $237,151 | $240,287 | $303,400 |
| Median Rent | $1,101 | $988 | $1,348 |
| Median Income | $88,306 | $69,680 | $78,538 |
| Home Value To Income | 2.7x | 3.4x | 3.9x |
| Rent To Monthly Income | 0.15x | 0.17x | 0.21x |
Median Home Value
Median Rent
Median Income
New Franklin, OH Costs By Category
Detailed New Franklin Services Costs Vs. Ohio
| Item | New Franklin | Ohio |
|---|---|---|
| Shampoo | $1.45 | $1.28 |
| Movie | $11.6 | $12.13 |
| Bowling | $18.27 | $18 |
| Haircut | $23.67 | $24.26 |
| Beauty Salon | $35.31 | $45.56 |
Detailed New Franklin Groceries Costs Vs. Ohio
| Item | New Franklin | Ohio |
|---|---|---|
| Ground Beef | $5.46 | $5.84 |
| Fried Chicken | $1.39 | $1.57 |
| Milk | $4.57 | $4.67 |
| Potatoes | $5.38 | $4.93 |
| Pizza | $9.98 | $12.09 |
| Beer | $10.51 | $10.41 |
| Toothpaste | $3.68 | $3.7 |
Detailed New Franklin Health Costs Vs. Ohio
| Item | New Franklin | Ohio |
|---|---|---|
| Optometrist | $103.58 | $125.68 |
| Doctor | $119.67 | $135.78 |
| Dentist | $109.73 | $113.29 |
Detailed New Franklin Transportation Costs Vs. Ohio
| Item | New Franklin | Ohio |
|---|---|---|
| Gasoline | $3.41 | $3.46 |
| Tire Balancing | $57.76 | $59.92 |
Detailed New Franklin Utilities Costs Vs. Ohio
| Item | New Franklin | Ohio |
|---|---|---|
| All Electricity | $205.88 | $193.99 |
| Phone | $186.78 | $192.25 |
New Franklin SnackAbility
/10
Cost Of Living In Cities Around New Franklin
The cost of living varies in the cities and towns around New Franklin. Here's a quick look at the cost of living in the most populous nearby places:
Cuyahoga Falls, OH has a cost of living index of 92, 1.0x New Franklin.
Stow, OH has a cost of living index of 99, 1.0x New Franklin.
Green, OH has a cost of living index of 97, 1.0x New Franklin.
| City | Population | Cost Of Living | Vs. New Franklin |
|---|---|---|---|
| Cuyahoga Falls, OH | 50,864 | 92 | 1.0x |
| Stow, OH | 34,317 | 99 | 1.0x |
| Green, OH | 27,381 | 97 | 1.0x |
| Kent, OH | 27,190 | 93 | 1.0x |
| Barberton, OH | 24,977 | 83 | 0.9x |
| Wadsworth, OH | 24,302 | 93 | 1.0x |
| Tallmadge, OH | 18,394 | 96 | 1.0x |
| North Canton, OH | 17,746 | 94 | 1.0x |
| Norton, OH | 11,576 | 95 | 1.0x |
| Fairlawn, OH | 7,689 | 97 | 1.0x |
