Franklin, LA is a small town located in St Mary Parish with a population of 7,664 people. It is known for having an affordable cost of living compared to the national average. The average rent for a two bedroom apartment in Franklin is $890 compared to the US average of $1,430 and the grocery cost index in Franklin is 93 versus 100 in the US. Local companies in Franklin include Allen's Supermarket, GLM Construction & Development LLC, Performance Machine Works Inc., Mossa Plumbing and Drainage Solutions, and A & G Automotive Services. For those interested in relocating to a quiet town with an affordable cost of living then Franklin may be worth considering.
Franklin has an unemployment rate of 8.3%. 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 2.3%, which is lower than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 8.5%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 6.0%. 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 $17,373 a year. The US average is $28,555 a year.
- The Median household income of a Franklin resident is $33,390 a year. The US average is $69,021 a year.