Franklin, TN Cost Of Living

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Updated: 2020-03-08
Franklin's Overall Cost Of Living
Higher Than The National Average
The cost of living index is set to 100 for the average place in America. An index above 100 means Franklin is expensive, while a number below 100 means it's a relatively cheap place to live.

What is the cost of living in Franklin, TN?

According to the most recent data on the cost of living, Franklin has an overall cost of living index of 117 which is 1.2x higher than the national index of 100.

Compared to only Tennessee, Franklin has a cost of living index that's 1.3x higher than Tennessee's index of 89.

The standard of living in Franklin ranks as #4636 most affordable out of the 6522 places we measured in Tennessee. By definition, that implies Franklin ranks as the #1770 most expensive place in the Volunteer State.

For more reading on life in Franklin, check out:

Franklin Cost Of Living Vs. Tennessee

Living Expense Franklin Tennessee National Average
Overall 117 89 100
Services 97 93 100
Groceries 98 95 100
Health 92 89 100
Housing 169 80 100
Transportation 91 88 100
Utilities 93 96 100
For more reading on cost of living around Tennessee, check out:
Franklin Cost of Living Vs. TN

Franklin, TN Housing Cost Breakdown

Housing swings affordability the most between places in Tennessee, 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.

Median Home Value
Median Rent
Median Income
Statistic Franklin Tennessee United States
Median Home Value $385,500 $158,600 $204,900
Median Rent $1,428 $841 $1,023
Median Income $94,808 $50,972 $60,293
Home Value To Income 4.1x 3.1x 3.4x
Rent To Monthly Income 0.18x 0.2x 0.2x

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Cost Of Living In Cities Around Franklin

City Population Cost Of Living Vs. Franklin
Smyrna, TN 48,361 93 0.8x
Brentwood, TN 41,987 148 1.3x
Spring Hill, TN 37,830 101 0.9x
La Vergne, TN 35,237 92 0.8x
Fairview, TN 8,599 95 0.8x
Nolensville, TN 7,656 121 1.0x

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