Cost of Living in Franklin, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
84.6
100 = national avg
-15.4 vs national average
Living Wage (1 Adult)
$37,239
per year
Living Wage (Family of 4)
$88,020
per year
Cost Index by Category
Housing77.8
Food92.0
Transportation83.9
Healthcare93.6
Utilities90.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$781
per month
2 Bedroom
$973
per month
The overall cost of living index in Franklin is 84.6, which is 15.4% below the national average. Housing costs are below the national average at an index of 77.8. A single adult needs to earn approximately $37,239 per year to cover basic expenses.