Housing costs in Franklin?
A typical home costs
$238,400, which is 29.5% less expensive than the national average of
$338,100 and 7.6% more expensive than the average Indiana home, at
$221,600. Renting a two-bedroom unit in Franklin costs
$1,050 per month, which is 26.6% cheaper than the national average of
$1,430 and 6.7% more than the state average of
$980.
Can I afford Franklin?
To live comfortably in Franklin, Indiana, a minimum annual income of
$45,720 for a family, and
$35,600 for a single person is recommended.
What does A.I. say about Franklin?
Franklin, IN is known for its affordability when it comes to cost of living. According to Best Places, the cost of living index in Franklin is 84.2, which is 16.8% lower than the US average score. This makes it an affordable place to live compared to other cities and towns in the US. The median home price in Franklin is 118,500 dollars, which is significantly lower than the national median home price of 216,000 dollars. Additionally, utilities such as electricity and water are relatively cheaper than the average for America overall. Altogether, this makes Franklin an ideal location for those looking for a more affordable option without compromising on quality of life.