States › Ohio › Franklin

Is Franklin, OH expensive to live in?

CheapRent takes 17 cents of every $1 people earn here.
🏠 Rent per month (2026)$90448% lower than U.S. average
💵 Families earn per year (2026)$63,186about $5,266/month · 27% lower than U.S. average
🔑 House price$183,10045% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $36,160 a year. That is $17 an hour at a full-time job.

Is rent cheaper than other Ohio cities?

Yes. Rent here is cheaper than in most of Ohio. It is number 29 of 288 cities from cheapest to most expensive.

Franklin
$904
Salem
$1,024
Seven Hills
$1,754
Bucyrus
$822
Norton
$1,171
Dent
$1,225
Macedonia
$2,422

How much do households earn in Franklin?

Under $25k
15.3%
$25k–50k
28.4%
$50k–100k
32.5%
$100k–150k
12.5%
$150k+
4.3%

Share of households by yearly income. 16.8% of households earn $100,000 or more.

Rent by apartment size in Franklin

SizeFranklinU.S. average
1 bedroom$883$1,324
2 bedrooms$1,089$1,509
3 bedrooms$1,348$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Franklin overall?

Everyday prices in Ohio overall are 7% below the U.S. average (index 92.8, U.S. = 100).

Housing
73
Goods (food, clothes…)
94
Utilities
96
Other services
99
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Franklin, so the Ohio figure is shown.

Taxes and bills in Franklin

🏛️ Property tax$2,263a year · 1.24% of home value · U.S. $3,119
⚡ Electric bill$174a month (typical) · U.S. $156

Life in Franklin

Commute to work23.1 minU.S.: 26.4 min
College degree15.8%U.S.: 35.7%
Own their home60.7%U.S.: 65.2%
Below poverty line22.5%U.S.: 12.5%
Unemployment4.6%U.S.: 5.2%

Is it cheaper to rent or buy in Franklin?

Renting is cheaper right now: about $366 a month less.

Renting
$904
Owning
$1,270

Owning assumes a typical $183,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $18,310 for the down payment.

Frequently asked questions

What is the average rent in Franklin, OH?

Renting in Franklin costs a median of about $904 a month in 2026, including utilities. The Ohio median is $1,261.

How much do I need to make to live in Franklin?

To keep rent under 30% of income, you need about $36,160 a year, or $17 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 $63,186. It ranks 29th cheapest of 288 Ohio cities we track.

How much are property taxes in Franklin?

The median homeowner in Franklin pays $2,263 a year in property taxes, about 1.24% of the median home value.

Is Franklin more expensive than the national average?

Overall prices in Ohio are 7% 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 $183,100, about 2.9 times the typical yearly household income.

11,712 people live in Franklin. Numbers are typical (middle) values.