What is the cost of living in Franklin, VA?
According to the most recent data on the cost of living, Franklin has an overall cost of living index of 101, which is 1.0x higher than the national index of 100.
Compared to Virginia, Franklin has a cost of living index that's 0.9x lower than Virginia's index of 112.
The standard of living in Franklin ranks as #29 most affordable out of the 188 places we measured in Virginia. By definition, that implies Franklin ranks as the #159 most expensive place in the Old Dominion.
For more reading on life in Franklin, check out:
Franklin Cost Of Living Vs. Virginia
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 106.
The Groceries index in Franklin is 107.
The Health index in Franklin is 96.
The Housing index in Franklin is 103.
The Transportation index in Franklin is 104.
The Utilities index in Franklin is 98.
| Living Expense | Franklin | Virginia | National Average |
|---|---|---|---|
| Overall | 101 | 112 | 100 |
| Services | 106 | 103 | 100 |
| Groceries | 107 | 104 | 100 |
| Health | 96 | 131 | 100 |
| Housing | 103 | 105 | 100 |
| Transportation | 104 | 105 | 100 |
| Utilities | 98 | 104 | 100 |
Franklin Cost Of Living Compared To Virginia Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Virginia, 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, VA Housing Cost Breakdown
Housing swings affordability the most between places in Virginia, 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 $242,883.
The Median Rent in Franklin is $988.
The Median Income in Franklin is $63,245.
The Home Value To Income in Franklin is 3.8x.
The Rent To Monthly Income in Franklin is 0.19x.
Franklin, VA Costs By Category
Detailed Franklin Services costs vs. Virginia
Detailed Franklin Groceries costs vs. Virginia
Detailed Franklin Health costs vs. Virginia
Detailed Franklin Transportation costs vs. Virginia
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:
Chesapeake, VA has a cost of living index of 117, 1.2x Franklin.
Newport News, VA has a cost of living index of 103, 1.0x Franklin.
Hampton, VA has a cost of living index of 107, 1.1x Franklin.
| City | Population | Cost Of Living | Vs. Franklin |
|---|---|---|---|
| Chesapeake, VA | 252,583 | 117 | 1.2x |
| Newport News, VA | 184,216 | 103 | 1.0x |
| Hampton, VA | 137,557 | 107 | 1.1x |
| Suffolk, VA | 98,796 | 116 | 1.1x |
| Colonial Heights, VA | 18,352 | 104 | 1.0x |
| Roanoke Rapids, NC | 14,856 | 88 | 0.9x |
| Poquoson, VA | 12,639 | 125 | 1.2x |
| Gloucester Point, VA | 11,109 | 110 | 1.1x |
| Smithfield, VA | 8,834 | 116 | 1.1x |
