Franklin cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
IndexFranklinCaliforniaNational
Cost of living index99135100
IndexFranklinCaliforniaNational
Goods & Services index104107100
Groceries index109117100
Health care index104109100
Housing index76189100
Transportation index127125100
Utilities index113116100
A general overview of the cost of living index for Franklin, CA is displayed above. In Franklin, CA, the overall cost of living index is 99, which is 27% lower than the California average and 1% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Franklin, CA, the city's goods and services are 3% lower than the California average and 4% higher than the U.S. average.

Did you know?

  • The cost of living in Franklin is 27% lower than the California average.
  • The cost of living in Franklin is 1% lower than the national average.
  • The cost of housing in Franklin is 24% lower than the national average.
  • California general sales tax is 47% higher than the national average.
  • California state income tax is 55% lower than the national average.

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Salary Calculator

This is how much you would need to earn in
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Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index
The salary calculator allows you to compare how much your current salary in Franklin, CA would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Franklin, CA, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Franklin, CA salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
Owners$40,088$3,341$935$1,203
Renters$31,000$2,583$723$930
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Franklin, CA as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Franklin, CA homeowners, is $40,088. This would allow for a maximum of $935 per month to be spent on housing costs. For renters, the median monthly income is $31,000 which would result in a maximum of $723 to be spent on rental costs.

California Sales Tax

StateGeneral Sales TaxWith Max Surtax
California7.5%10%

California Income Tax

StateIncome Tax (Low)Income Tax (High)
California1%12.3%
For those who live in Franklin, CA and want to know what the true cost of living is, they ought to look at both the California income tax rate and the California sales tax rate. By sales tax, we mean the taxes that are included whenever a person is purchasing any goods or services. The amount that is taxed depends upon the particular state, where some states have a sales tax of zero percent while others can have a tax higher than seven percent. In California, the sales tax is 7.5%, while the most you'll pay in surtax is 10%. There is also income tax to consider, which is based upon the amount of money made in a year. Just like sales tax, income tax depends upon the particular state but also depends upon what tax bracket the person is in. Income tax for the state can be higher than nine percent in some states to zero percent in others. For those that live in California, the income tax rate ranges between 1% to 12.3%.

Goods & Services

ItemFranklinNational avg.Difference
Haircut $18.89$14.5929.4%
Beauty Salon $60.96$34.6875.8%
Toothpaste $2.59$2.474.7%
Shampoo $1.09$1.026.7%
Movie $12.50$9.8726.7%
Bowling $5.79$4.3931.8%

Groceries

ItemFranklinNational avg.Difference
Ground Beef $4.49$4.480.3%
Fried Chicken $1.74$1.4618.8%
Milk $2.69$2.3614.1%
Potatoes $3.32$3.068.4%
Pizza $9.00$9.242.6%
Beer $9.35$8.638.3%

Health Care

ItemFranklinNational avg.Difference
Optometrist $104.42$99.784.7%
Doctor $95.57$105.039.0%
Dentist $102.40$88.7015.4%
Ibuprofen $11.60$9.4123.2%
Lipitor $281.41$298.505.7%

Housing

ItemFranklinNational avg.Difference
Home Price $114,900.00$175,700.0034.6%
Avg. Mortgage Payment $2,759.31$1,081.03155.2%
Apartment Rent $924.00$920.000.4%

Transportation

ItemFranklinNational avg.Difference
Gasoline $2.61$2.0924.8%
Tire Balancing $60.00$45.2932.5%

Utilities

ItemFranklinNational avg.Difference
All Electricity$186.13$170.809.0%
Phone $33.30$28.2617.8%
Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, StatePopulationCost of Living IndexNational Avg.
Tuttle, CA171088%
University of California Merced, CA01088%
El Nido, CA41291-9%
Planada, CA4,46595-5%
Winton, CA11,77495-5%
Franklin, CA6,84099-1%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Withamsville, OH6,84189-11%
Waikoloa Village, HI6,84116767%
Darnestown, MD6,84116969%
Kirtland, OH6,83811212%
Hamilton, AL6,84278-22%
Franklin, CA6,84099-1%
Source: The Franklin, CA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.