New Franklin, MO is a small town located in Howard County with a population of about 730 people according to the latest census. It is a great place for those who prefer smaller towns with friendly people. Compared to the average rent nationwide, which is $1,430 for two bedrooms, the rental rate in New Franklin is quite affordable at $740. Grocery costs in New Franklin are also quite low with an index of 94 compared to 100 nationwide. There are several local businesses in New Franklin including Harden's Grocery Store, Main Street Floral & Gifts, and The Popcorn Spot. These establishments offer residents quality goods and services at competitive prices. All in all, New Franklin is an excellent option for anyone looking for a small town experience while enjoying lower rental rates and grocery costs as compared to other cities across the US.
New Franklin has an unemployment rate of 3.1%. The US average is 6.0%.
New Franklin has seen the job market increase by 0.0% 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 New Franklin
- The Sales Tax Rate for New Franklin is 6.9%. The US average is 7.3%.
- The Income Tax Rate for New 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 New Franklin
- The average income of a New Franklin resident is $17,175 a year. The US average is $28,555 a year.
- The Median household income of a New Franklin resident is $43,523 a year. The US average is $69,021 a year.