Franklin, IN is a quiet suburb located in Johnson County. It has a population of approximately 5,400 residents and offers affordable living opportunities. The average 2 Bedroom rent in Franklin is $1,010 compared to the US average of $1,430. Additionally, the area’s Grocery Cost Index is 94 versus 100 in the US which makes groceries more affordable than other areas. Local businesses that make up Franklin’s economy include Duos Diagnostics medical diagnostic imaging clinics, Airgas specialty gas company, Millennium Springs steel fabricators and Safe-T-Proof Storm Shelters storm shelter installation services. There are also numerous restaurants such as Big Hoffa's Barbeque Smokehouse Grill, Jockamo Upper Crust Pizza and El Tequito Restaurant & Cantina. With its lower than average rent costs and grocery costs, Franklin is an excellent place for those looking for affordable living options.
Franklin (zip 46131) has an unemployment rate of 3.6%. The US average is 6.0%.
Franklin (zip 46131) has seen the job market decrease by -4.7% over the last year. Future job growth over the next ten years is predicted to be 40.9%, which is higher than the US average of 33.5%.
Tax Rates for Franklin (zip 46131)
- The Sales Tax Rate for Franklin (zip 46131) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Franklin (zip 46131) is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Franklin (zip 46131)
- The average income of a Franklin (zip 46131) resident is $31,045 a year. The US average is $37,638 a year.
- The Median household income of a Franklin (zip 46131) resident is $71,908 a year. The US average is $69,021 a year.