Median rent is 26% lower in Salt Lake City ($1,414/mo vs $1,923/mo). Buying is cheaper in Salt Lake City, where the median home runs $539,500 versus $705,400. Households earn more in Franklin ($119,528 vs $75,090 a year). Taken together, Franklin is the more affordable choice with a cost index of 97.0 against 97.1 — 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
Salt Lake City, UT
How much would you need to earn in Salt Lake City, UT to maintain your standard of living from Franklin, TN?
Equivalent salary in Salt Lake City, UT
$75,094
You'd need $94 more (0% higher).
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
Salt Lake City
Utah
👥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 Salt Lake City — median rent of $1,414/mo versus $1,923/mo in Franklin, a 26% difference. Home buyers face a steeper market in Franklin: the median home is $705,400 versus $539,500 in Salt Lake City — 24% 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.
Franklin
Income tax: N/A
Sales tax: N/A
Salt Lake City
Income tax: N/A
Sales tax: N/A
Air quality data is available for Salt Lake City (avg AQI 41.0) but not yet for Franklin.
Pick Franklin if you prioritize higher median household income ($119,528/yr).
Pick Salt Lake City if you prioritize cheaper rent ($1,414/mo median).
Is Franklin cheaper than Salt Lake City?
Franklin is cheaper overall, with a cost of living index of 97.0 versus 97.1 (US average = 100). That means prices run about 0% lower in Franklin.
How much is rent in Franklin vs Salt Lake City?
Median rent is $1,923/mo in Franklin, TN and $1,414/mo in Salt Lake City, UT. Salt Lake City, UT has the lower rent by about 26%.
Which has higher salaries — Franklin or Salt Lake City?
Median household income is $119,528 in Franklin, TN and $75,090 in Salt Lake City, UT. 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 Salt Lake City?
State tax data is not yet available for one or both cities.
What salary do I need in Salt Lake City to match my Franklin income?
To maintain the same purchasing power, a salary of $100,000 in Franklin, TN is equivalent to roughly $100,125 in Salt Lake City, UT (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
