Franklin, Tennessee has an overall cost of living index of 97.0, which is 3.0 points below the US average of 100 — making it about average versus most American cities. Renters pay a median of $1,923 per month, while the typical home is valued around $705,400. Households earn a median of $119,528 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.
$119,528
Median Income / yr
Census ACS
$1,923
Median Rent / mo
Census ACS
$705,400
Median Home Value
Census ACS
97.0
Cost of Living Index
Studio FMR
$1,507
HUD · FY2024
1BR Fair Market Rent
$1,578
HUD · FY2024
2BR Fair Market Rent
$1,730
HUD · FY2024
3BR Fair Market Rent
$2,211
HUD · FY2024
Fair Market Rent is the 40th percentile of gross rents in the metro area · HUD FY2024
Each category indexed to the US average of 100. Below 100 = cheaper than average.
Overall
97.0
Goods
94.3
Rents / Housing
106.9
Services
76.6
Source: BEA Regional Price Parities (metro-level)
| Occupation | Median Annual Wage |
|---|---|
| Software Developer | $122,310 |
| Registered Nurse | $88,840 |
| Elementary Teacher | $58,590 |
| Electrician | $62,040 |
| Accountant | $86,870 |
| Plumber | $61,270 |
| Nurse Practitioner | $279,180 |
| Civil Engineer | $103,290 |
| Operations Manager | $138,610 |
| Market Research Analyst | $74,890 |
| Health Services Manager | $136,040 |
| Truck Driver | $60,210 |
| Physician Assistant | N/A |
| Surgeon | N/A |
| Data Scientist | N/A |
| Computer Engineer | $119,640 |
Source: BLS OEWS 2023 (metro-level data)
Population
87,133
Latest estimate
Median Age
38.6 yrs
Census ACS
AQI data not available
Source: EPA AirNow
Total Neighborhoods
4
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,898
Per month
Avg Home Value
$661,275
Census ACS
| Neighborhood | Walk Score | Median Rent | Home Value |
|---|---|---|---|
| ZIP 37027 | — | $1,925 | $762,300 |
| ZIP 37064 | — | $1,686 | $593,000 |
| ZIP 37067 | — | $1,821 | $627,200 |
| ZIP 37069 | — | $2,158 | $662,600 |
January Avg
39°F
July Avg
80°F
Sunny Days / Year
—
Annual Snowfall
—
Climate category: Temperate · Source: NOAA/NCEI 30-year normals.
Healthcare Score
32.5
poor
Hospitals
2
Doctors per 1,000
1.00
Insurance Coverage
95.3%
Franklin has a Regional Price Parity (RPP) index of 97.0. The US national average is 100, so Franklin is 3.0 points below the national average.
The median gross rent in Franklin is $1,923 per month according to US Census ACS data.
The median household income in Franklin is $119,528 per year.
The median home value in Franklin is $705,400 based on the latest Census ACS survey.
Air quality data for Franklin is not yet available.
Tax data for Tennessee is not yet available.
Data last updated: June 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
