Median rent is 31% lower in Paradise ($1,287/mo vs $1,861/mo). Buying is cheaper in Paradise, where the median home runs $358,400 versus $646,300. Households earn more in Franklin ($115,000 vs $58,874 a year). Taken together, Paradise is the more affordable choice with a cost index of 96.5 against 96.5 — about 0% lower overall prices. After adjusting income for local prices, a typical paycheck stretches further in Franklin, TN.
City A
Franklin, TN
City B
Paradise, NV
How much would you need to earn in Paradise, NV to maintain your standard of living from Franklin, TN?
Equivalent salary in Paradise, NV
$74,953
You could earn $47 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
Franklin
Tennessee
Paradise
Nevada
👥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
Renters will find significantly cheaper housing in Paradise — median rent of $1,287/mo versus $1,861/mo in Franklin, a 31% difference. Home buyers face a steeper market in Franklin: the median home is $646,300 versus $358,400 in Paradise — 45% more expensive.
1BR Fair Market Rent
2BR Fair Market Rent
BLS OEWS 2023 — metro-level data
Both Tennessee and Nevada have no state income tax — a notable advantage for workers in both cities. Sales tax is 7.00% in Tennessee and 6.85% in Nevada; Paradise has the lower rate (local add-ons may apply in both).
Franklin
Income tax: None
Sales tax: 7.00%
Paradise
Income tax: None
Sales tax: 6.85%
Air quality data is available for Paradise (avg AQI 23.0) but not yet for Franklin.
Pick Franklin if you prioritize higher median household income ($115,000/yr).
Pick Paradise if you prioritize cheaper rent ($1,287/mo median).
Is Franklin cheaper than Paradise?
Paradise is cheaper overall, with a cost of living index of 96.5 versus 96.5 (US average = 100). That means prices run about 0% lower in Paradise.
How much is rent in Franklin vs Paradise?
Median rent is $1,861/mo in Franklin, TN and $1,287/mo in Paradise, NV. Paradise, NV has the lower rent by about 31%.
Which has higher salaries — Franklin or Paradise?
Median household income is $115,000 in Franklin, TN and $58,874 in Paradise, NV. 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 — Franklin or Paradise?
Both Tennessee and Nevada have no state income tax.
What salary do I need in Paradise to match my Franklin income?
To maintain the same purchasing power, a salary of $100,000 in Franklin, TN is equivalent to roughly $99,938 in Paradise, NV (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