salaryRent here is among the lowest 10% of all U.S. cities. A typical house costs about 3.1 years of household income. Commutes are short, about 18.4 minutes.
How much money do I need?
To rent here comfortably, you should earn about $36,480 a year. That is $18 an hour at a full-time job.
Is rent cheaper than other Kentucky cities?
Yes. Rent here is cheaper than in most of Kentucky. It is number 15 of 87 cities from cheapest to most expensive.
How much do households earn in Franklin?
Share of households by yearly income. 12.5% of households earn $100,000 or more.
Rent by apartment size in Franklin
| Size | Franklin | U.S. average |
|---|---|---|
| 1 bedroom | $893 | $1,324 |
| 2 bedrooms | $922 | $1,509 |
| 3 bedrooms | $1,191 | $1,698 |
| 4 bedrooms | $1,377 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Franklin overall?
Everyday prices in Kentucky overall are 10% below the U.S. average (index 90.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Franklin, so the Kentucky figure is shown.
Taxes and bills in Franklin
Life in Franklin
Is it cheaper to rent or buy in Franklin?
Renting is cheaper right now: about $444 a month less.
Owning assumes a typical $195,400 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $19,540 for the down payment.
Frequently asked questions
What is the average rent in Franklin, KY?
Renting in Franklin costs a median of about $912 a month in 2026, including utilities. The Kentucky median is $1,175.
How much do I need to make to live in Franklin?
To keep rent under 30% of income, you need about $36,480 a year, or $18 an hour at a full-time job.
Is Franklin cheap or expensive?
Franklin is rated Cheap: rent takes 17.2% of the typical household income of $63,688. It ranks 15th cheapest of 87 Kentucky cities we track.
How much are property taxes in Franklin?
The median homeowner in Franklin pays $1,313 a year in property taxes, about 0.67% of the median home value.
Is Franklin more expensive than the national average?
Overall prices in Kentucky are 10% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Franklin?
The median home value in Franklin is $195,400, about 3.1 times the typical yearly household income.
10,360 people live in Franklin. Numbers are typical (middle) values.