Franklin, Tennessee is a vibrant city located just south of Nashville. It is home to several large companies including Nissan North America, Community Health Systems, and First Horizon National Corporation. The average wage in Franklin is around $59,000 per year while the unemployment rate sits at 4%. The median household income in the area is around $87,000. Franklin offers its residents a competitive cost of living with an average 2-bedroom rent of $1,850 compared to the US national average of $1,430. Additionally, the grocery cost index in Franklin stands at 107 compared to 100 nationally. With its rich history and lively culture, it's no wonder why more people are choosing to call Franklin their home.
Franklin has an unemployment rate of 3.1%. The US average is 6.0%.
Franklin has seen the job market increase by 2.4% over the last year. Future job growth over the next ten years is predicted to be 53.4%, which is higher than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 9.3%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin
- The average income of a Franklin resident is $40,447 a year. The US average is $28,555 a year.
- The Median household income of a Franklin resident is $102,721 a year. The US average is $69,021 a year.