Franklin Township (Lenawee Cnty), MI is a great township to live in because of its low rent cost and grocery cost index. The 2 bedroom rent in the area is $1,020 compared to the US average of $1,430, making it an affordable option for many families. The Grocery Cost Index for the area is also lower than the national average at 95 versus 100 in the US. Popular companies located in Franklin Township include Michigan International Speedway and Country Charm Dairy Farms. One additional fact about Franklin township is that there are multiple parks with walking trails and playgrounds located throughout the neighborhood offering plenty of recreational activities for residents of all ages.
Franklin township (Lenawee County) has an unemployment rate of 5.5%. The US average is 6.0%.
Franklin township (Lenawee County) has seen the job market decrease by -7.2% over the last year. Future job growth over the next ten years is predicted to be 25.6%, which is lower than the US average of 33.5%.
Tax Rates for Franklin township (Lenawee County)
- The Sales Tax Rate for Franklin township (Lenawee County) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin township (Lenawee County) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin township (Lenawee County)
- The average income of a Franklin township (Lenawee County) resident is $37,687 a year. The US average is $37,638 a year.
- The Median household income of a Franklin township (Lenawee County) resident is $79,228 a year. The US average is $69,021 a year.