| Index | Franklin Farm | Virginia | National |
| Cost of living | 172 | 111 | 100 |
| Groceries | 104 | 103 | 100 |
| Health care | 103 | 103 | 100 |
| Housing | 329 | 129 | 100 |
| Transportation | 106 | 105 | 100 |
| Utilities | 104 | 104 | 100 |
| Lifestyle & Entertainment | 106 | 103 | 100 |
| Household Items | 100 | 102 | 100 |
| Education & Childcare | 107 | 109 | 100 |
Getting a feel for the cost of living in Franklin Farm is essential for anyone planning to relocate, as it empowers them to make informed financial decisions, secure a comfortable lifestyle and maintain financial stability in their new environment. The cost of living in Franklin Farm is 172, which is 72% higher than the national average. Relocating individuals may need to adjust their savings and investment strategies based on the cost of living in the new location. It influences decisions about retirement planning, investments and financial goals.
If you're in pursuit of an economical living environment, Franklin Farm may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Franklin Farm falls within this bracket.
Housing costs are a very significant part of the Franklin Farm cost of living index and generally encompass a large percentage of take-home income. Unfortunately, in this area, the housing costs for both homes and rentals were 229.4% more than the average city. This includes things like home and rent prices, mortgage rates and insurance.
Is Franklin Farm affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Franklin Farm, the median home price is 260% higher than the national average and monthly rent prices are 158% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Franklin Farm boasting a median household income of $282,174, 246.9% higher than the national average.
Utilities: Much like any other costs, utility expenses can exhibit considerable variations, influenced by factors such as climate, available energy sources, geographic location and state regulations. The costs associated with electricity, water, heating, and waste disposal can vary significantly depending on the city or state in question. In Franklin Farm, the utilities index stands at 4.2% higher than the national average.
Subsidies: Certain cities or states may implement government subsidies or assistance programs with the goal of alleviating the cost of living pressures on their residents. These programs encompass a broad spectrum of support mechanisms, including Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas offering fewer subsidies may experience a rise in their cost of living.
Transportation: If public transportation is limited or not available, residents may need to own and maintain vehicles, which can add to the cost of living. Gas, insurance, regular maintenance and potentially lease or finance payments will all need to be paid on a monthly basis. In Franklin Farm, the transportation index is 6.1% higher than the national average.
The Franklin Farm cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $289,246 | $24,104 | $6,749 | $8,678 |
| Renters | $158,852 | $13,238 | $3,706 | $4,766 |
| State | General Sales Tax | With Max Surtax |
| Virginia | 5.3% | 6% |
| State | Income Tax (Low) | Income Tax (High) |
| Virginia | 2% | 5.75% |
| City | Population | Cost of Living Index | National Avg. |
| Wakefield town, VA | 838 | 92 | 8.4% |
| Bull Run, VA | 17,295 | 118 | 17.6% |
| Yorkshire, VA | 9,373 | 120 | 20.1% |
| Sudley, VA | 18,730 | 123 | 22.7% |
| Manassas Park, VA | 17,985 | 124 | 23.5% |
| Franklin Farm, VA | 19,257 | 172 | 71.9% |
| City | Population | Cost of Living Index | National Avg. |
| Concord, MO | 19,251 | 103 | 3.4% |
| Terrell, TX | 19,247 | 94 | 5.8% |
| Culpeper, VA | 19,271 | 117 | 16.7% |
| Lake Shore, MD | 19,239 | 136 | 35.9% |
| Farmington, MO | 19,279 | 90 | 10.2% |
| Franklin Farm, VA | 19,257 | 172 | 71.9% |
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