Cost of Living in Franklin, KY

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11%
Overall NAT. AVG.
3%
Groceries NAT. AVG.
27%
Housing NAT. AVG.
Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
The cost of living index is based on a national average of 100. For example, if the cost of living score is 90, then the estimated cost of living is 10% lower than the national average. If the score is 110, then the estimated cost of living is 10% higher than average. The overall index is calculated using weighted estimates across major everyday expense categories, including housing (30%), groceries (16%), transportation (12%), healthcare (10%), utilities (8%), lifestyle and entertainment (8%), household expenses (8%), and education and childcare (8%). All values are AI-assisted city-level estimates designed for directional comparisons.
Index Franklin Kentucky National
Cost of living8988100
Groceries9798100
Health care9897100
Housing7370100
Transportation9396100
Utilities9295100
Lifestyle & Entertainment9295100
Household Items9897100
Education & Childcare9894100
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Homes For Sale In Franklin, KY

property for sale

218 Monterey Rd

Franklin, KY
property for sale

1002 Dogwood Dr

Franklin, KY
property for sale

344 W Cedar St

Franklin, KY
property for sale

1424 Roark Rd

Franklin, KY
See the Newest Homes For Sale In Franklin, KY

Cost Of Living Quick Facts

  • The cost of living in Franklin is 1% higher than the Kentucky average
  • The cost of living in Franklin is 11% lower than the national average
  • Franklin housing is 27% lower than the national average
  • Kentucky general sales tax is 18% higher than the national average
  • Kentucky state income tax is 73% higher than the national average

Most Affordable Places to Live in and Around Franklin

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Compare Franklin, KY Cost of Living

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      Salary Calculator

      This is how much you would need to earn in
      Price difference in compared to
      Cost of living index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index
      Lifestyle index
      Household index
      Educare index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$85,622$7,135$1,998$2,569
      Renters$44,307$3,692$1,034$1,329
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Franklin, KY, 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 homeowners, is $85,622. This would allow for a maximum of $1,998 per month to be spent on housing costs. For renters, the median monthly income is $44,307 which would result in a maximum of $1,034 to be spent on rental costs.

      Kentucky Sales Tax

      State General Sales Tax With Max Surtax
      Kentucky 6% 6%

      Kentucky Income Tax

      State Income Tax (Low) Income Tax (High)
      Kentucky 4.5% 4.5%

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Fairfield, TN204982.2%
      Mitchellville, TN1668613.8%
      Auburn, KY1,5148515.1%
      Woodburn, KY3848911.5%
      Portland, TN13,381946.2%
      Franklin, KY9,1148911.0%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      New Glasgow, NS9,114n/a 
      Covington, TN9,1138811.8%
      Sheffield, AL9,1168514.8%
      Andover, MA9,11716059.9%
      Savoy, IL9,1101055.0%
      Franklin, KY9,1148911.0%
      Date & Last Updated: These cost of living estimates reflect 2026 modeled data using U.S. Census housing inputs and AI-assisted city-level pricing models.
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