Cost of Living in Franklin, VA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
103.2
100 = national avg
+3.2 vs national average
Living Wage (1 Adult)
$45,387
per year
Living Wage (Family of 4)
$107,279
per year
Cost Index by Category
Housing109.1
Food99.8
Transportation99.6
Healthcare99.8
Utilities101.7
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$817
per month
2 Bedroom
$1,051
per month
The overall cost of living index in Franklin is 103.2, which is 3.2% above the national average. Housing costs are above the national average at an index of 109.1. A single adult needs to earn approximately $45,387 per year to cover basic expenses.