States › Ohio › New Franklin

Is New Franklin, OH expensive to live in?

CheapRent takes 15 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,25229% lower than U.S. average
💵 Families earn per year (2026)$97,328about $8,111/month · 12% higher than U.S. average
🔑 House price$214,30036% lower than U.S. average

Rent is lower than in 72% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Most homes (88.3%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $50,080 a year. That is $24 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 144 of 288 cities from cheapest to most expensive.

New Franklin
$1,252
Beachwood
$2,420
Bellefontaine
$1,668
Lyndhurst
$1,444
Maumee
$1,837
Brecksville
$1,756
Sharonville
$1,270

How much do households earn in New Franklin?

Under $25k
7.4%
$25k–50k
21.8%
$50k–100k
37.3%
$100k–150k
23.4%
$150k+
9.2%

Share of households by yearly income. 32.6% of households earn $100,000 or more.

Rent by apartment size in New Franklin

SizeNew FranklinU.S. average
2 bedrooms$1,210$1,509
3 bedrooms$1,514$1,698

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

How expensive is New 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 New Franklin, so the Ohio figure is shown.

Taxes and bills in New Franklin

🏛️ Property tax$3,330a year · 1.55% of home value · U.S. $3,119
⚡ Electric bill$122a month (typical) · U.S. $156

Life in New Franklin

Commute to work24.9 minU.S.: 26.4 min
College degree24.7%U.S.: 35.7%
Own their home88.3%U.S.: 65.2%
Below poverty line6.1%U.S.: 12.5%
Unemployment4%U.S.: 5.2%

Is it cheaper to rent or buy in New Franklin?

Renting is cheaper right now: about $235 a month less.

Renting
$1,252
Owning
$1,487

Owning assumes a typical $214,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $21,430 for the down payment.

Frequently asked questions

What is the average rent in New Franklin, OH?

Renting in New Franklin costs a median of about $1,252 a month in 2026, including utilities. The Ohio median is $1,261.

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

To keep rent under 30% of income, you need about $50,080 a year, or $24 an hour at a full-time job.

Is New Franklin cheap or expensive?

New Franklin is rated Cheap: rent takes 15.4% of the typical household income of $97,328. It ranks 144th cheapest of 288 Ohio cities we track.

How much are property taxes in New Franklin?

The median homeowner in New Franklin pays $3,330 a year in property taxes, about 1.55% of the median home value.

Is New 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 New Franklin?

The median home value in New Franklin is $214,300, about 2.2 times the typical yearly household income.

13,843 people live in New Franklin. Numbers are typical (middle) values.