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.
IndexFranklinNew HampshireNational
Cost of living index108119100
IndexFranklinNew HampshireNational
Goods & Services index117117100
Groceries index103103100
Health care index116116100
Housing index91127100
Transportation index106106100
Utilities index137137100
A general summary of the cost of living index in Franklin, NH is shown above. Compared to the state average of New Hampshire the cost of living index in Franklin, NH is 108, which is 9% lower than the average in New Hampshire and compared to the national average it is 8% higher than. The cost of living index is made up of several categories. These are transportation at 9%, utilities at 10%, goods and services at 33%, housing at 30%, groceries at 13%, and health care at 5%. The bulk of the cost of living index comes from the categories of goods and services and housing. If you look at everyday goods and services they can be a good indicator in a certain city of the general costs of goods there. In Franklin, NH goods and services come in at equal to the average in New Hampshire and are 17% higher than compared to the nationwide average.

Did you know?

  • The cost of living in Franklin is 9% lower than the New Hampshire average.
  • The cost of living in Franklin is 8% higher than the national average.
  • The cost of housing in Franklin is 9% lower than the national average.
  • New Hampshire general sales tax is 100% lower than the national average.
  • New Hampshire state income tax is 100% 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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Groceries index
Health care index
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The salary calculator allows you to compare how much your current salary in Franklin, NH 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, NH, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Franklin, NH 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$64,225$5,352$1,498$1,927
Renters$23,333$1,944$544$700
The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Franklin, NH 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, NH homeowners, is $64,225. This would allow for a maximum of $1,498 per month to be spent on housing costs. For renters, the median monthly income is $23,333 which would result in a maximum of $544 to be spent on rental costs.

New Hampshire Sales Tax

StateGeneral Sales TaxWith Max Surtax
New Hampshire0%0%

New Hampshire Income Tax

StateIncome Tax (Low)Income Tax (High)
New Hampshire0%0%
When you are determining the total cost of living in Franklin, NH you will want to make sure you consider both the New Hampshire sales tax and the New Hampshire income tax rates. Sales tax come in the form of taxes levied on both services and goods that are sold. The sales tax rates are different state to state and range from zero sales tax to higher than 7%. The sales tax in New Hampshire is 0%, with the highest surtax being 0%. Tax that is on income by the government is income tax. Different states have different income tax rates and these rates can be higher or lower dependent on the corresponding tax bracket. The state income tax rates are different state to state and range from no income tax to more than 9% income tax. The income tax rates in New Hampshire have a range from 0% to 0%.

Goods & Services

ItemFranklinNational avg.Difference
Haircut $16.88$14.5915.7%
Beauty Salon $41.47$34.6819.6%
Toothpaste $2.32$2.476.2%
Shampoo $1.00$1.022.2%
Movie $10.20$9.873.4%
Bowling $4.62$4.395.2%

Groceries

ItemFranklinNational avg.Difference
Ground Beef $3.76$4.4816.0%
Fried Chicken $1.56$1.466.6%
Milk $2.21$2.366.2%
Potatoes $2.98$3.062.7%
Pizza $8.68$9.246.1%
Beer $9.07$8.635.1%

Health Care

ItemFranklinNational avg.Difference
Optometrist $100.39$99.780.6%
Doctor $149.18$105.0342.0%
Dentist $104.81$88.7018.2%
Ibuprofen $9.68$9.412.8%
Lipitor $277.44$298.507.1%

Housing

ItemFranklinNational avg.Difference
Home Price $164,700.00$175,700.006.3%
Avg. Mortgage Payment $1,260.97$1,081.0316.6%
Apartment Rent $788.00$920.0014.3%

Transportation

ItemFranklinNational avg.Difference
Gasoline $2.28$2.099.0%
Tire Balancing $44.74$45.291.2%

Utilities

ItemFranklinNational avg.Difference
All Electricity$243.35$170.8042.5%
Phone $36.25$28.2628.3%
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.
Bristol, NH1,5621099%
Belmont, NH2,0661099%
Tilton Northfield, NH3,91911111%
Laconia, NH16,00711212%
Loudon, NH58511212%
Franklin, NH8,4621088%

Cities with similar population

City, StatePopulationCost of Living IndexNational Avg.
Gering, NE8,46385-15%
North Weeki Wachee, FL8,46396-4%
Burlington, WA8,4661088%
Delavan, WI8,46796-4%
Orange Park, FL8,47299-1%
Franklin, NH8,4621088%
Source: The Franklin, NH cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for the fourth quarter of 2015.