Here's what it costs to live in Franklin, Indiana, based on the latest US government data. Renters pay a median of $1,186 per month, while the typical home is valued around $231,500. Households earn a median of $82,380 per year, leaving rent at a manageable share of income for many residents. Below: housing costs, local wages by occupation, neighborhoods, climate, jobs and major industries, and healthcare access — all drawn from US Census, BEA, BLS, HUD, EPA, and NOAA data.
Median Household Income
$82,380
Annual · Census ACS
Median Gross Rent
$1,186
Per month · Census ACS
Median Home Value
$231,500
Census ACS
Cost of Living Index
N/A
BEA RPP · US avg = 100
Studio FMR
$796
HUD Fair Market Rent
1BR Fair Market Rent
$861
HUD FMR
2BR Fair Market Rent
$1,117
HUD FMR
3BR Fair Market Rent
$1,473
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | N/A |
| 🏥Registered Nurse | N/A |
| 📚Elementary Teacher | N/A |
| ⚡Electrician | N/A |
| 📊Accountant | N/A |
| 🔧Plumber | N/A |
| ⚕️Nurse Practitioner | N/A |
| 🏗️Civil Engineer | N/A |
| 👔Operations Manager | N/A |
| 📈Market Research Analyst | N/A |
| 🏢Health Services Manager | N/A |
| 🚛Truck Driver | N/A |
| 👨⚕️Physician Assistant | N/A |
| 🩺Surgeon | N/A |
| 🧮Data Scientist | N/A |
| 🖥️Computer Engineer | N/A |
Source: BLS OEWS 2023 (metro-level data)
Population
26,168
Latest estimate
Median Age
34.5 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
Total Neighborhoods
5
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,141
Per month
Avg Home Value
$229,633
Census ACS
January Avg
28°F
July Avg
76°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Continental · Source: NOAA/NCEI 30-year normals.
Healthcare Score
32.5
poor
Hospitals
1
Doctors per 1,000
1.00
Insurance Coverage
95.3%
What is the cost of living index for Franklin?
The cost of living index for Franklin is not yet available in our database.
What is the median rent in Franklin?
The median gross rent in Franklin is $1,186 per month according to US Census ACS data.
What is the median household income in Franklin?
The median household income in Franklin is $82,380 per year.
What is the median home value in Franklin?
The median home value in Franklin is $231,500 based on the latest Census ACS survey.
How is the air quality in Franklin?
Air quality data for Franklin is not yet available.
What are the taxes like in Franklin?
Tax data for Indiana is not yet available.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
