Franklin, AZ is an attractive place for people to live thanks to its low cost of living. The average 2 bedroom rent in Franklin is just $960, compared to the national average of $1,430, making it much more affordable for those on a budget. Furthermore, the Grocery Cost Index in Franklin is 93 versus 100 in the US. As such, groceries are cheaper than most places across the country. It is no wonder why more and more people are choosing to move to Franklin. \nThe city has many local businesses that contribute to the economy and offer great opportunities for residents. Companies like Franklin Pharmacy offer medical care while Any Time Fitness provides a great place for people to stay active with its gym facilities. Other businesses include Sal’s Pizzeria which serves delicious Italian dishes and Wily Dog Bakery which produces top-notch pastries and other baked goods. All these companies provide great benefits to their customers and employees alike.
Franklin has an unemployment rate of 5.4%. The US average is 6.0%.
Franklin has seen the job market decrease by -0.6% over the last year. Future job growth over the next ten years is predicted to be 26.2%, which is lower than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 6.1%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 4.2%. 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 $6,611 a year. The US average is $28,555 a year.
- The Median household income of a Franklin resident is $68,813 a year. The US average is $69,021 a year.