Cost of Living in Franklin, TN
Population 85,575 · Tennessee · Data vintage 2023
(100 = US avg)
Franklin's housing market reflects its status as a high-earning metro: $646,000 for a typical home, 112% above the US median, paired with household incomes around $115,000 that put it in the upper third of the state. The labor market has been unusually tight, with unemployment around 2.4% — below most comparable cities in the state.
Franklin sits roughly 20 miles south of Nashville-Davidson — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 69% higher 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 $646,300 — 112% above the national median of $305,000. Median rent runs $1,861/month, 42% higher than the national median of $1,314/month. The median household income of $115,000/year is 54% higher than the US median of $74,580. The local unemployment rate is 2.4%, below the national average of 4.8%. Tennessee charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 71.6°F and lows of 50.1°F, with about 4.7" of annual snowfall. Overall, Franklin has a cost of living index of 184 versus the US average of 100, meaning it is 84% more 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 | 49 | 54 | 63 | 73 | 80 | 88 | 91 | 90 | 84 | 74 | 61 | 52 |
| Low °F | 30 | 33 | 40 | 49 | 58 | 66 | 71 | 69 | 62 | 50 | 39 | 33 |
| Precip" | 4.02 | 4.47 | 4.52 | 4.72 | 5.02 | 4.36 | 4.16 | 3.79 | 3.80 | 3.36 | 3.86 | 4.43 |
| Snow" | 2.0 | 1.5 | 0.7 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.4 |
💨 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, TN?
Franklin has a cost index of 184 (100 = national average). It is 84% above the national average.
What is average rent in Franklin, TN?
The median gross rent in Franklin is $1,861 per month based on 2023 Census data.
What is the average home price in Franklin?
The median home value in Franklin is $646,300 according to Zillow and Census data.
What is the median income in Franklin?
The median household income in Franklin is $115,000 per year (2023 ACS 5-year estimates).
What is the sales tax in Franklin, TN?
The combined state and local sales tax rate in Franklin is 9.6%. Tennessee has no state income tax.
Is Franklin, TN affordable?
Franklin is above average in cost of living, with an index of 184 — about 84% higher than the national average.
What is the weather like in Franklin?
Franklin has average high temperatures of 71.6°F and average lows of 50.1°F. Annual precipitation is 50.5". Average annual snowfall is 4.7". Data from NOAA 1991–2020 Climate Normals.
Franklin at a Glance
- Population
- 85,575
- Median Income
- $115,000
- Home Value
- $646,300
- Median Rent
- $1,861/mo
- Unemployment
- 2.4%
- Avg High Temp
- 71.6°F
- Sales Tax
- 9.6%
Nearby Cities
Explore county-level cost of living data
Tennessee Rankings
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