Cost of Living in Franklin, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
94.5
100 = national avg
-5.5 vs national average
Living Wage (1 Adult)
$41,582
per year
Living Wage (Family of 4)
$98,284
per year
Cost Index by Category
Housing83.6
Food100.6
Transportation101.3
Healthcare100.5
Utilities97.1
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$698
per month
2 Bedroom
$916
per month
The overall cost of living index in Franklin is 94.5, which is 5.5% below the national average. Housing costs are below the national average at an index of 83.6. A single adult needs to earn approximately $41,582 per year to cover basic expenses.