Franklin, New Hampshire Cost Of Living

B+

3%

Overall NAT. AVG.

17%

Goods & Services NAT. AVG.

14%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Franklin	New Hampshire	National
Cost of living	103	115	100
Goods & Services	117	117	100
Groceries	104	104	100
Health care	116	116	100
Housing	86	123	100
Transportation	97	97	100
Utilities	114	114	100

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Cost Of Living Quick Facts

The cost of living in Franklin is 10% lower than the New Hampshire average
The cost of living in Franklin is 3% higher than the national average
Franklin housing is 14% lower than the national average
New Hampshire general sales tax is 100% lower than the national average
New Hampshire state income tax is 122% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$65,000	$5,417	$1,517	$1,950
Renters	$27,889	$2,324	$651	$837

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 homeowners, is $65,000. This would allow for a maximum of $1,517 per month to be spent on housing costs. For renters, the median monthly income is $27,889 which would result in a maximum of $651 to be spent on rental costs.

New Hampshire Sales Tax

State	General Sales Tax	With Max Surtax
New Hampshire	0%	0%

New Hampshire Income Tax

State	Income Tax (Low)	Income Tax (High)
New Hampshire	5%	5%

Goods & Services

Item	Franklin	National avg.	Difference
Haircut	$27.88	$20.27	37.5%
Beauty Salon	$41.83	$40.39	3.6%
Toothpaste	$2.09	$2.36	11.3%
Shampoo	$1.02	$1.08	5.2%
Movie	$9.99	$10.99	9.1%
Bowling	$22.92	$15.49	47.9%

Groceries

Item	Franklin	National avg.	Difference
Ground Beef	$4.00	$4.30	7.0%
Fried Chicken	$1.20	$1.40	14.2%
Milk	$2.62	$2.20	19.1%
Potatoes	$4.07	$3.22	26.5%
Pizza	$11.46	$10.74	6.7%
Beer	$9.31	$9.60	3.0%

Health Care

Item	Franklin	National avg.	Difference
Optometrist	$102.92	$109.73	6.2%
Doctor	$158.77	$118.34	34.2%
Dentist	$129.12	$100.94	27.9%
Ibuprofen	$9.40	$9.93	5.3%
Lipitor	$445.22	$469.53	5.2%

Housing

Item	Franklin	National avg.	Difference
Home Price	$160,100.00	$184,700.00	13.3%
Avg. Mortgage Payment	$1,162.78	$1,229.62	5.4%
Apartment Rent	$787.00	$949.00	17.1%

Transportation

Item	Franklin	National avg.	Difference
Gasoline	$2.46	$2.71	9.1%
Tire Balancing	$55.59	$51.86	7.2%

Utilities

Item	Franklin	National avg.	Difference
All Electricity	$215.09	$170.84	25.9%
Phone	$183.36	$187.18	2.0%

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	Population	Cost of Living Index	National Avg.
Bristol, NH	1,946	104	4.4%
Belmont, NH	1,793	106	5.7%
Tilton Northfield, NH	3,512	106	5.8%
Laconia, NH	16,171	106	6.3%
Meredith, NH	1,803	109	8.8%
Franklin, NH	8,440	103	3.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Kirby, TX	8,441	85	14.6%
Absecon, NJ	8,438	105	4.8%
Price, UT	8,437	89	10.8%
Westlake Village, CA	8,443	196	95.8%
Brockport, NY	8,444	91	8.9%
Franklin, NH	8,440	103	3.3%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.