Franklin Square, NY is a suburban area located in the southeastern part of New York. It is home to many local businesses such as Franklin Square Deli, Gold Coast Bank, and Lincoln Pharmacy. The cost of living in this area is higher than other parts of New York due to the 2 bedroom rent being $2,300 per month compared to $1,430 nationwide. Furthermore, food costs are 8% higher than the national average with a grocery cost index of 108 versus 100 in the US. All these factors contribute to making Franklin Square quite an expensive place to live.
Franklin Square has an unemployment rate of 5.9%. The US average is 6.0%.
Franklin Square has seen the job market increase by 0.9% over the last year. Future job growth over the next ten years is predicted to be 28.3%, which is lower than the US average of 33.5%.
Tax Rates for Franklin Square
- The Sales Tax Rate for Franklin Square is 8.6%. The US average is 7.3%.
- The Income Tax Rate for Franklin Square is 6.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin Square
- The average income of a Franklin Square resident is $33,224 a year. The US average is $28,555 a year.
- The Median household income of a Franklin Square resident is $123,334 a year. The US average is $69,021 a year.