Franklin, Idaho is a small town located in Northern Idaho. It is known for its small-town charm and beautiful landscape. The cost of living in Franklin is very reasonable compared to the national average. The average 2 bedroom rent is $1,030 per month, while the US average for 2 bedrooms is $1,430. Additionally, the grocery cost index in Franklin is 92 versus 100 in the US. This makes it an affordable place to live. Local businesses located in Franklin include Walmart, Dollar General, and Tractor Supply Co., providing plenty of shopping options for residents. All together this makes Franklin an attractive destination for those looking for a small-town atmosphere with a lower cost of living than many other areas.
Franklin has an unemployment rate of 3.1%. The US average is 6.0%.
Franklin has seen the job market decrease by -1.4% over the last year. Future job growth over the next ten years is predicted to be 42.8%, which is higher than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 7.4%. 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 $18,676 a year. The US average is $37,638 a year.
- The Median household income of a Franklin resident is $55,000 a year. The US average is $69,021 a year.