Cost of Living in Franklin, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
75.3
100 = national avg
-24.7 vs national average
Living Wage (1 Adult)
$33,128
per year
Living Wage (Family of 4)
$78,302
per year
Cost Index by Category
Housing66.2
Food86.3
Transportation72.6
Healthcare89.0
Utilities85.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$733
per month
2 Bedroom
$962
per month
The overall cost of living index in Franklin is 75.3, which is 24.7% below the national average. Housing costs are below the national average at an index of 66.2. A single adult needs to earn approximately $33,128 per year to cover basic expenses.