Franklin, CT is a small town located in the Northeast region of the United States. The town boasts a quality of living that is higher than the US average as demonstrated by its lower rent for two bedroom homes which stands at $1,290 compared to the national average of $1,430 and grocery cost index which is 106 versus 100 nationwide. Some local companies include Home Depot, CVS Pharmacy, Dunkin' Donuts, Subway and Franklin Family Restaurant. Residents enjoy peaceful walks around Lake Zoar or hiking at Naugatuck State Park. The town offers residents plenty of amenities in addition to its great outdoor activities.
Franklin has an unemployment rate of 9.1%. The US average is 6.0%.
Franklin has seen the job market increase by 0.2% over the last year. Future job growth over the next ten years is predicted to be 31.1%, which is lower than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 6.4%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 5.5%. 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 $39,378 a year. The US average is $28,555 a year.
- The Median household income of a Franklin resident is $89,948 a year. The US average is $69,021 a year.