Cost of Living in Franklin, IN
Population 26,168 · Census ACS 2020–2024 5-year estimates
The median rent in Franklin, IN is $1,186/month, 12% higher than the Indiana median and 16% lower than the U.S. median. The median home value is $231,500, 30% lower than the national median. Households earn a median of $82,380 a year, 14% higher than the state median.
Affordability
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Franklin vs. Indiana vs. U.S.
| Franklin | Indiana | U.S. | |
|---|---|---|---|
| Median rent | $1,186 | $1,062 | $1,413 |
| Median home value | $231,500 | $218,200 | $332,700 |
| Median household income | $82,380 | $71,957 | $80,734 |
| Homeownership rate | 65.7% | 70.6% | 65.2% |
| Bachelor's degree or higher | 27.8% | 29.5% | 35.7% |
| Poverty rate | 11.0% | 12.3% | 12.5% |
| Unemployment rate | 3.9% | 4.3% | 5.2% |
| Work from home | 11.5% | 10.7% | 15.1% |
| Median age | 34.5 | 38.1 | 38.9 |
FAQ
What is the average rent in Franklin, IN?
The median gross rent in Franklin, IN is $1,186 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Franklin, IN?
Using the common 30% rule, renting a median-priced home takes about $47,440 a year in gross income.
Is Franklin, IN expensive to live in?
Rent there is 16% lower than the U.S. median, and the median home costs about 2.8 times the median household income.
Other cities in Indiana
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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