Franklin County, IA is a thriving rural area with a population of fewer than 10,000 people. Despite its small size, this county offers plenty for its residents - from local businesses to recreational activities. It’s also an affordable place to live; rent for a two bedroom apartment averages $800 per month, which is significantly lower than the national average of $1,430 per month. Additionally, the Grocery Cost Index in Franklin County is 92 versus 100 in the US overall, making groceries very accessible. Local businesses include a theater company, several restaurants, and even a bakery. With its low cost of living and local attractions, Franklin County provides an ideal atmosphere for renters looking to keep costs down without compromising on comfort or amenities.
Franklin County has an unemployment rate of 4.1%. The US average is 6.0%.
Franklin County has seen the job market decrease by -0.3% over the last year. Future job growth over the next ten years is predicted to be 21.0%, which is lower than the US average of 33.5%.
Tax Rates for Franklin County
- The Sales Tax Rate for Franklin County is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin County is 9.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin County
- The average income of a Franklin County resident is $25,719 a year. The US average is $28,555 a year.
- The Median household income of a Franklin County resident is $59,019 a year. The US average is $69,021 a year.