New Franklin, OH is a quaint city located in the heart of Ohio. The rental prices for two bedroom apartments is lower than the US average, making it a great choice for those looking to save money on rent. Grocery costs are also relatively affordable, with a grocery cost index of 97 compared to 100 in the US. New Franklin has many local companies to choose from such as Summit Motors, Black Diamond Kia and Lakemore Hardware & Home Center. These companies provide a range of services including automotive repair, car sales and home improvement supplies. These businesses offer quality products at competitive prices which makes them an ideal choice for residents living in the area.
New Franklin has an unemployment rate of 5.7%. The US average is 6.0%.
New Franklin has seen the job market increase by 0.8% over the last year. Future job growth over the next ten years is predicted to be 26.4%, which is lower than the US average of 33.5%.
Tax Rates for New Franklin
- The Sales Tax Rate for New Franklin is 6.8%. The US average is 7.3%.
- The Income Tax Rate for New Franklin is 4.5%. 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 $30,635 a year. The US average is $28,555 a year.
- The Median household income of a New Franklin resident is $80,357 a year. The US average is $69,021 a year.