Median rent is 11% lower in Austin ($1,655/mo vs $1,861/mo). Buying is cheaper in Austin, where the median home runs $512,700 versus $646,300. Households earn more in Franklin ($115,000 vs $91,461 a year). Taken together, Franklin is the more affordable choice with a cost index of 96.5 against 98.8 — about 2% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Franklin, TN.
Quick verdict
Franklin is 2% cheaper overall
Cost index: 96.5 in Franklin vs 98.8 in Austin (US average = 100)
City A
Austin, TX
City B
Franklin, TN
How much would you need to earn in Franklin, TN to maintain your standard of living from Austin, TX?
Equivalent salary in Franklin, TN
$73,279
You could earn $1,721 less (2% lower) and break even.
Based on BEA Regional Price Parity (cost index) for each city's metro area. A rough estimate of overall purchasing power, not tax or take-home pay.
Metric
Austin
Texas
Franklin
Tennessee
👥Population
Median Household Income
Annual
🏠Median Gross Rent
Per month
🏡Median Home Value
📊Cost of Living Index
US avg = 100
🔑1BR Fair Market Rent
HUD FMR
🔑2BR Fair Market Rent
HUD FMR
🔑3BR Fair Market Rent
HUD FMR
🌬️Air Quality Index
Lower = cleaner
🏛️Top State Income Tax
Top marginal rate
🧾State Sales Tax
Statewide base rate
🎂Median Age
Years
✓ = better value · Sources: US Census ACS, BEA RPP, HUD FMR, EPA AirNow, Tax Foundation
Median rent is modestly lower in Austin at $1,655/mo compared to $1,861/mo in Franklin (11% gap). Home buyers face a steeper market in Franklin: the median home is $646,300 versus $512,700 in Austin — 21% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Texas and Tennessee have no state income tax — a notable advantage for workers in both cities. Sales tax is 6.25% in Texas and 7.00% in Tennessee; Austin has the lower rate (local add-ons may apply in both).
Austin
Income tax: None
Sales tax: 6.25%
Franklin
Income tax: None
Sales tax: 7.00%
Air quality data is available for Austin (avg AQI 47.0) but not yet for Franklin.
Pick Franklin if you prioritize higher median household income ($115,000/yr).
Pick Austin if you prioritize cheaper rent ($1,655/mo median).
Is Austin cheaper than Franklin?
Franklin is cheaper overall, with a cost of living index of 96.5 versus 98.8 (US average = 100). That means prices run about 2% lower in Franklin.
How much is rent in Austin vs Franklin?
Median rent is $1,655/mo in Austin, TX and $1,861/mo in Franklin, TN. Austin, TX has the lower rent by about 11%.
Which has higher salaries — Austin or Franklin?
Median household income is $91,461 in Austin, TX and $115,000 in Franklin, TN. Franklin, TN has the higher median income. Note that BLS occupational wages in the table above show wages for specific jobs.
Which city has better air quality?
Air quality data is not yet available for one or both cities.
Which has lower taxes — Austin or Franklin?
Both Texas and Tennessee have no state income tax.
What salary do I need in Franklin to match my Austin income?
To maintain the same purchasing power, a salary of $100,000 in Austin, TX is equivalent to roughly $97,705 in Franklin, TN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology