| Index | Franklin Town | Massachusetts | National |
| Cost of living | 144 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 115 | 116 | 100 |
| Housing | 216 | 169 | 100 |
| Transportation | 114 | 115 | 100 |
| Utilities | 118 | 117 | 100 |
| Lifestyle & Entertainment | 111 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 121 | 127 | 100 |
The cost of living in Franklin Town affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Franklin Town is 144, which is 44% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Franklin Town is among the highest in the country, making it a very expensive place to live. Only a small fraction of regions boast a cost of living that is at least 20% higher than the national average, and regrettably, Franklin Town falls into this category, which may not be suitable for those seeking an economically favorable living environment.
When it comes to the cost of living in Franklin Town, housing costs are a real heavyweight, often hogging a significant chunk of your earnings. Sadly, in this area, housing expenses for both buying and renting were 115.9% more expensive compared to your average city. That means you'll be shelling out more for homes, rents, mortgage rates and insurance.
Is Franklin Town affordable? It's a key consideration when pondering a move, as affordability often shapes your choices. The cost of living index (we discussed it earlier), coupled with housing costs and income levels, serves as the cornerstone for determining a location's affordability. Take Franklin Town, for instance, where the median home price falls 142.7% higher than the national average, and monthly rent rates are 53.5% higher than usual. Additionally, median income levels contribute to the equation, with Franklin Town flaunting a median household income of $178,186, 119.1% higher than the national norm.
Groceries: Grocery expenditures have undergone notable escalation over the last 2-3 years. In some markets, the cost of food products has surged by more than 20%, while others have experienced only modest increments. These fluctuations in food costs can have a significant impact on the overall cost of living in any region. In Franklin Town, the groceries index registers 9.1% higher than the national average.
Housing: When everyone's vying for homes in popular areas, it drives up property prices and rents, making the overall cost of living surge. On the flip side, in less sought-after locales, where housing demand is low, prices tend to dip, resulting in a more economical cost of living. In Franklin Town, the housing index comes in at 115.9% higher than the national average.
Healthcare: Healthcare expenses and insurance premiums can vary significantly depending on the specific city or state. Factors such as accessibility to healthcare facilities, out-of-pocket expenses for doctor's visits, dental care expenses, prescription costs and specialized medical care fees can all influence the overall cost of living. In Franklin Town, healthcare costs are 14.6% higher than the national average.
The Franklin Town 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 | $200,147 | $16,679 | $4,670 | $6,005 |
| Renters | $94,998 | $7,917 | $2,216 | $2,850 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Central Falls, RI | 20,175 | 103 | 3.0% |
| Woonsocket, RI | 42,718 | 105 | 4.7% |
| Pawtucket, RI | 74,311 | 108 | 7.7% |
| Pascoag, RI | 5,074 | 109 | 9.1% |
| Harrisville, RI | 1,316 | 112 | 11.6% |
| Franklin Town, MA | 34,557 | 144 | 43.9% |
| City | Population | Cost of Living Index | National Avg. |
| Alabaster, AL | 34,559 | 98 | 1.9% |
| Randolph, MA | 34,560 | 123 | 23.3% |
| Kearney, NE | 34,543 | 98 | 2.3% |
| DeLand, FL | 34,541 | 107 | 7.1% |
| Dalton, GA | 34,537 | 94 | 6.1% |
| Franklin Town, MA | 34,557 | 144 | 43.9% |
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