Cost of Living in Franklin, KY
Population 10,254 · Kentucky · Data vintage 2023
(100 = US avg)
Franklin is a smaller Kentucky community of around 10000 residents, where median household incomes of $55,552 and housing costs ($170,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Located 40 miles northeast of Nashville-Davidson, Franklin falls within that metro's commuting orbit. Median home values run roughly 56% lower than Nashville-Davidson's $383,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Franklin
The median home value in Franklin is $170,400 — 44% below the national median of $305,000. Median rent runs $1,034/month, 21% lower than the national median of $1,314/month. The median household income of $55,552/year is 26% lower than the US median of $74,580. The local unemployment rate is 5.5%, above the national average of 4.8%. Kentucky's top state income tax rate is 4.0% and the combined sales tax is 6.0%. Overall, Franklin has a cost of living index of 65 versus the US average of 100, meaning it is 35% less expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Franklin, KY?
Franklin has a cost index of 65 (100 = national average). It is 35% below the national average.
What is average rent in Franklin, KY?
The median gross rent in Franklin is $1,034 per month based on 2023 Census data.
What is the average home price in Franklin?
The median home value in Franklin is $170,400 according to Zillow and Census data.
What is the median income in Franklin?
The median household income in Franklin is $55,552 per year (2023 ACS 5-year estimates).
What is the sales tax in Franklin, KY?
The combined state and local sales tax rate in Franklin is 6.0%. The Kentucky state income tax top rate is 4.0%.
Is Franklin, KY affordable?
Yes, Franklin is generally considered affordable, with a cost of living index of 65 — about 35% below the US national average of 100.
Franklin at a Glance
- Population
- 10,254
- Median Income
- $55,552
- Home Value
- $170,400
- Median Rent
- $1,034/mo
- Unemployment
- 5.5%
- Sales Tax
- 6.0%
Nearby Cities
Explore county-level cost of living data
Kentucky Rankings
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