In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Displayed above is a general overview of the Franklinton, LA cost of living index. The overall cost of living index in Franklinton, LA is 86, which is 6% lower than the Louisiana average and 14% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Franklinton, LA are 1% higher than the Louisiana average and 2% lower than the national average.
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Did you know?
The cost of living in Franklinton is 6% lower than the Louisiana average.
The cost of living in Franklinton is 14% lower than the national average.
The cost of housing in Franklinton is 40% lower than the national average.
Louisiana general sales tax is 2% lower than the national average.
Louisiana state income tax is 10% lower than the national average.
Compare Franklinton, LA Cost of living To Other Cities
This is how much you would need to earn in Price difference in compared to
Cost of living index
Goods & Services index
Health care index
Using the salary calculator lets you compare the salary you earn in Franklinton, LA to what it is in other cities. It will let you know what your earnings would have to be in another city to have the same standard of living, as determined by the cost of living in each city. For example, if the cost of living in the area you want to move to is higher than the cost of living in Franklinton, LA, you have to earn a higher income in order to still have the same standard of living. To operate the Franklinton, LA salary calculator, put in the name of the other city, then move the slider to the point that represents the current income. The salary calculator will take care of the rest and tell you how much more or less you must earn in the new city. A Total breakdown of the cost of living is also provided.
Median Income & Debt-To-Income Ratio
Max Budget (28% DTI)
Max Budget (36% DTI)
A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Franklinton, LA, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Franklinton, LA has a median income of about $34,842 for people who own homes. Based on that number, a person should spend a maximum of $813 on expenses related to housing. Renters have a slightly different median income, which is $14,713. Based on this average, renters should spend no more than $343 on all of their rental costs if they want to maintain a non-impoverished standard of living.
Louisiana Sales Tax
General Sales Tax
With Max Surtax
Louisiana Income Tax
Income Tax (Low)
Income Tax (High)
The Louisiana sales tax and Louisiana income tax rates should definitely be considered when determining the overall cost of living in Franklinton, LA. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The Louisiana sales tax is 5% and the maximum surtax is 12%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The Louisiana income tax rates range from 2% to 6%.
Goods & Services
Avg. Mortgage Payment
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.