Franklin, MO is a small town located in Franklin County. It is home to several businesses including Franklin Veterinary Practice, Stonehill Industries, and Home Valu. The cost of living in Franklin is relatively low compared to other parts of the country; as such, two bedroom rent in Franklin averages $770 whereas two bedroom rent in the US averages $1,430. Additionally, the Grocery Cost Index in Franklin is 95 versus 100 in the US. All combined, this makes it an affordable place to live for those looking for a cozy town with great amenities.
Franklin has an unemployment rate of 3.1%. The US average is 6.0%.
Franklin has seen the job market decrease by -2.0% over the last year. Future job growth over the next ten years is predicted to be 25.5%, which is lower than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 6.9%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 5.9%. 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 $10,734 a year. The US average is $37,638 a year.
- The Median household income of a Franklin resident is $32,500 a year. The US average is $69,021 a year.