Franklin, OH is a great place to live for those looking for an affordable lifestyle. The city boasts a two bedroom rent rate of $1,080 compared to the US median of $1,430. In addition to lower rent prices, Franklin's grocery cost index is also comparatively low at 97 versus 100 in the US. As such, residents can benefit from a relative decrease in their living expenses.
The city features multiple attractions and companies that add to its charm. Notable local attractions include the Centre Park Historic District and the Franklin County Fairgrounds, while businesses like Cummins Inc., LyondellBasell Industries NV, and Bob Evans Farms are based out of Franklin. All in all, Franklin is an ideal city for those looking to save money on their living expenses while still enjoying all that it has to offer.
Franklin has an unemployment rate of 3.8%. The US average is 6.0%.
Franklin has seen the job market increase by 0.7% over the last year. Future job growth over the next ten years is predicted to be 32.9%, which is lower than the US average of 33.5%.
Tax Rates for Franklin
- The Sales Tax Rate for Franklin is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin is 5.2%. 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 $20,775 a year. The US average is $28,555 a year.
- The Median household income of a Franklin resident is $52,750 a year. The US average is $69,021 a year.