Frankton, IN is a small town located in Madison County. It is home to a variety of businesses such as Beckman's Pharmacy, Frankton Lumber Co., and Heyer's Grocery Store. The cost of living in Frankton is relatively low, with 2 bedroom rent at $810 per month compared to the US average of $1,430 per month. The grocery cost index in Frankton is 93 compared to 100 in the US, making it a great place for those looking to save money on everyday items. In addition to its low costs, residents also have access to plenty of job opportunities and entertainment options within Frankton and in nearby cities.
Frankton has an unemployment rate of 5.4%. The US average is 6.0%.
Frankton has seen the job market increase by 2.5% over the last year. Future job growth over the next ten years is predicted to be 35.4%, which is higher than the US average of 33.5%.
Tax Rates for Frankton
- The Sales Tax Rate for Frankton is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Frankton is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Frankton
- The average income of a Frankton resident is $22,657 a year. The US average is $28,555 a year.
- The Median household income of a Frankton resident is $51,680 a year. The US average is $69,021 a year.