Cost of Living in Franklin, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
111.9
100 = national avg
+11.9 vs national average
Living Wage (1 Adult)
$49,226
per year
Living Wage (Family of 4)
$116,351
per year
Cost Index by Category
Housing114.9
Food109.1
Transportation106.7
Healthcare107.3
Utilities108.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,267
per month
2 Bedroom
$1,473
per month
The overall cost of living index in Franklin is 111.9, which is 11.9% above the national average. Housing costs are above the national average at an index of 114.9. A single adult needs to earn approximately $49,226 per year to cover basic expenses.