Franklin Farm, VA is a great place to live and work. It offers an array of local businesses that help keep the economy thriving and provide plenty of job opportunities for its residents. The average rent for a two-bedroom apartment in Franklin Farm is $2,140 which is significantly higher than the U.S. average of $1,430 dollars per month. Local companies such as Franklin Farm Cafe, Franklin Pub & Bistro, and Franklin Farm Auto offer goods and services to the community at competitive prices. Additionally, the grocery cost index in Franklin Farm is 114 compared to 100 in the US which makes living there slightly more expensive than other places in America. All together these factors make the cost of living in Franklin Farm relatively high but still quite reasonable given its proximity to Washington D.C., Virginia Beach, and other cities nearby.
Franklin Farm has an unemployment rate of 4.6%. The US average is 6.0%.
Franklin Farm has seen the job market increase by 2.0% over the last year. Future job growth over the next ten years is predicted to be 36.7%, which is higher than the US average of 33.5%.
Tax Rates for Franklin Farm
- The Sales Tax Rate for Franklin Farm is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin Farm is 5.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin Farm
- The average income of a Franklin Farm resident is $57,734 a year. The US average is $28,555 a year.
- The Median household income of a Franklin Farm resident is $193,486 a year. The US average is $69,021 a year.