| Index | Franklin Park | Pennsylvania | National |
| Cost of living | 132 | 97 | 100 |
| Groceries | 99 | 100 | 100 |
| Health care | 101 | 99 | 100 |
| Housing | 202 | 90 | 100 |
| Transportation | 105 | 101 | 100 |
| Utilities | 104 | 99 | 100 |
| Lifestyle & Entertainment | 100 | 100 | 100 |
| Household Items | 100 | 99 | 100 |
| Education & Childcare | 104 | 101 | 100 |
Understanding the cost of living in Franklin Park can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Franklin Park cost of living index is 132, which is 32% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you value affordability in your search for a new place to live, Franklin Park may not be the most suitable option, as it stands out as one of the priciest areas in the entire United States. Only a small fraction of regions have a cost of living that is more than 20% higher than the national average, and regrettably, Franklin Park falls into this category, which may not align with your desire for an affordable place to call home.
Housing costs are a major factor in the Franklin Park cost of living index, and they often eat up a big chunk of your take-home pay. Unfortunately, in this area, housing expenses for both homeownership and rentals were 102% higher than what's typical in an average city. That includes the prices of homes and rents, as well as mortgage rates and insurance.
Is Franklin Park 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 Park, the median home price is 104% higher than the national average and monthly rent prices are 97.4% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Franklin Park boasting a median household income of $211,835, 160.5% higher than the national average.
Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.
Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Franklin Park, the housing index is 102% higher than the national average.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Franklin Park, healthcare costs are 1.3% higher than the national average.
The Franklin Park 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 | $233,070 | $19,423 | $5,438 | $6,993 |
| Renters | $96,236 | $8,020 | $2,245 | $2,887 |
| State | General Sales Tax | With Max Surtax |
| Pennsylvania | 6% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| Pennsylvania | 3.07% | 3.07% |
| City | Population | Cost of Living Index | National Avg. |
| North Braddock, PA | 4,860 | 81 | 18.8% |
| Rankin, PA | 2,002 | 83 | 17.4% |
| Edgewood CDP, PA | 2,521 | 83 | 17.4% |
| East Pittsburgh, PA | 1,698 | 83 | 17.3% |
| Braddock, PA | 1,929 | 83 | 17.3% |
| Franklin Park, PA | 15,190 | 132 | 31.8% |
| City | Population | Cost of Living Index | National Avg. |
| Rosemère, QC | 15,188 | n/a | |
| Carthage, MO | 15,195 | 84 | 16.4% |
| Hampton Bays, NY | 15,184 | 153 | 53.4% |
| Yankton, SD | 15,183 | 91 | 9.0% |
| Jacksonville, TX | 15,199 | 87 | 13.2% |
| Franklin Park, PA | 15,190 | 132 | 31.8% |
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