Housing costs in Franklin?
A typical home costs
$129,100, which is 61.8% less expensive than the national average of
$338,100 and 58.3% less expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Franklin costs
$820 per month, which is 42.7% cheaper than the national average of
$1,430 and 51.2% cheaper than the state average of
$1,240.
Can I afford Franklin?
To live comfortably in Franklin, Minnesota, a minimum annual income of
$24,840 for a family, and
$27,600 for a single person is recommended.
What does A.I. say about Franklin?
The cost of living in Franklin, MN is quite reasonable. According to data from BestPlaces, the overall cost of living index is 82.69, which is slightly below the national average of 100. The most significant cost-of-living expenses are housing and groceries. Housing costs are 6% lower than the national average whereas groceries are 10% cheaper than the U.S. norm. This makes Franklin an affordable city for residents looking for a place to settle down and raise a family without breaking the bank.