Housing costs in Franklin?
A typical home costs
$731,500, which is 116.4% more expensive than the national average of
$338,100 and 234.5% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Franklin costs
$1,740 per month, which is 21.7% more than the national average of
$1,430 and 36.8% more than the state average of
$1,100.
Can I afford Franklin?
To live comfortably in Franklin, Michigan, a minimum annual income of
$140,040 for a family, and
$54,800 for a single person is recommended.
What does A.I. say about Franklin?
The cost of living in Franklin, MI is quite reasonable. The median home price is around $192,000, which is much lower than the national average. The overall cost of living index for the city is 91.2, which is just below the national average of 100. Utilities are also reasonably priced and transportation costs are low compared to other cities in Michigan. Overall, Franklin provides an affordable and comfortable place to live with a variety of amenities.