Median rent is 16% lower in Charlotte ($1,612/mo vs $1,923/mo). Buying is cheaper in Charlotte, where the median home runs $385,700 versus $705,400. Households earn more in Franklin ($119,528 vs $82,068 a year). Taken together, Franklin is the more affordable choice with a cost index of 97.0 against 97.3 — about 0% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Franklin, TN.
City A
Charlotte, NC
City B
Franklin, TN
How much would you need to earn in Franklin, TN to maintain your standard of living from Charlotte, NC?
Equivalent salary in Franklin, TN
$74,770
You could earn $230 less (0% 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
Charlotte
North Carolina
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 Charlotte at $1,612/mo compared to $1,923/mo in Franklin (16% gap). Home buyers face a steeper market in Franklin: the median home is $705,400 versus $385,700 in Charlotte — 45% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
State tax data is not yet available for these cities.
Charlotte
Income tax: N/A
Sales tax: N/A
Franklin
Income tax: N/A
Sales tax: N/A
Air quality data is available for Charlotte (avg AQI 55.0) but not yet for Franklin.
Pick Franklin if you prioritize higher median household income ($119,528/yr).
Pick Charlotte if you prioritize cheaper rent ($1,612/mo median).
Is Charlotte cheaper than Franklin?
Franklin is cheaper overall, with a cost of living index of 97.0 versus 97.3 (US average = 100). That means prices run about 0% lower in Franklin.
How much is rent in Charlotte vs Franklin?
Median rent is $1,612/mo in Charlotte, NC and $1,923/mo in Franklin, TN. Charlotte, NC has the lower rent by about 16%.
Which has higher salaries — Charlotte or Franklin?
Median household income is $82,068 in Charlotte, NC and $119,528 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 — Charlotte or Franklin?
State tax data is not yet available for one or both cities.
What salary do I need in Franklin to match my Charlotte income?
To maintain the same purchasing power, a salary of $100,000 in Charlotte, NC is equivalent to roughly $99,693 in Franklin, TN (using the BEA Regional Price Parity ratio). Use the salary calculator above for any income amount.
Data last updated: December 1, 2026 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology
