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.
Median Household Income
$119,528
Annual · Census ACS
Median Gross Rent
$1,923
Per month · Census ACS
Median Home Value
$705,400
Census ACS
Cost of Living Index
97.0
BEA RPP · US avg = 100
Studio FMR
$1,507
HUD Fair Market Rent
1BR Fair Market Rent
$1,578
HUD FMR
2BR Fair Market Rent
$1,730
HUD FMR
3BR Fair Market Rent
$2,211
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
Each category is 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
5
Tracked in our database
Avg Walk Score
N/A
0–100 scale
Avg Median Rent
$1,565
Per month
Avg Home Value
$506,700
Census ACS
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%
What is the cost of living index for Franklin?
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.
What is the median rent in Franklin?
The median gross rent in Franklin is $1,923 per month according to US Census ACS data.
What is the median household income in Franklin?
The median household income in Franklin is $119,528 per year.
What is the median home value in Franklin?
The median home value in Franklin is $705,400 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 Tennessee 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
