Cost of Living in New Franklin, OH
Population 13,830 · Ohio · Data vintage 2023
(100 = US avg)
Buyers in New Franklin can reasonably expect a home to cost less than three years of household income — $197,000 against $88,306 in typical earnings — a ratio that has collapsed to 5:1 or worse in much of the country.
Located 9 miles southwest of Akron, New Franklin falls within that metro's commuting orbit. Median home values run roughly 77% higher than Akron's $111,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in New Franklin
The median home value in New Franklin is $196,600 — 36% below the national median of $305,000. Median rent runs $1,101/month, 16% lower than the national median of $1,314/month. The median household income of $88,306/year is 18% higher than the US median of $74,580. The local unemployment rate is 4.1%, below the national average of 4.8%. Ohio's top state income tax rate is 3.8% and the combined sales tax is 7.2%. The climate averages highs of 61.2°F and lows of 42.1°F, with about 47.2" of annual snowfall. Overall, New Franklin has a cost of living index of 72 versus the US average of 100, meaning it is 28% 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
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 36 | 39 | 48 | 62 | 72 | 80 | 84 | 83 | 76 | 63 | 51 | 40 |
| Low °F | 20 | 22 | 29 | 40 | 50 | 59 | 63 | 62 | 55 | 44 | 34 | 26 |
| Precip" | 2.92 | 2.44 | 3.23 | 3.86 | 4.13 | 4.43 | 4.14 | 3.61 | 3.50 | 3.34 | 3.08 | 2.89 |
| Snow" | 13.4 | 12.0 | 7.6 | 1.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 3.3 | 8.9 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in New Franklin, OH?
New Franklin has a cost index of 72 (100 = national average). It is 28% below the national average.
What is average rent in New Franklin, OH?
The median gross rent in New Franklin is $1,101 per month based on 2023 Census data.
What is the average home price in New Franklin?
The median home value in New Franklin is $196,600 according to 2023 Census ACS data.
What is the median income in New Franklin?
The median household income in New Franklin is $88,306 per year (2023 ACS 5-year estimates).
What is the sales tax in New Franklin, OH?
The combined state and local sales tax rate in New Franklin is 7.2%. The Ohio state income tax top rate is 3.8%.
Is New Franklin, OH affordable?
Yes, New Franklin is generally considered affordable, with a cost of living index of 72 — about 28% below the US national average of 100.
What is the weather like in New Franklin?
New Franklin has average high temperatures of 61.2°F and average lows of 42.1°F. Annual precipitation is 41.6". Average annual snowfall is 47.2". Data from NOAA 1991–2020 Climate Normals.
New Franklin at a Glance
- Population
- 13,830
- Median Income
- $88,306
- Home Value
- $196,600
- Median Rent
- $1,101/mo
- Unemployment
- 4.1%
- Avg High Temp
- 61.2°F
- Sales Tax
- 7.2%
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