Cost of Living in Franklin County, Florida
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Franklin County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Franklin County ranks #1,092 of 3,144 counties for affordability (top 35%)
Data Story
About Cost of Living in Franklin County, Florida
Franklin keeps housing affordable
Franklin County residents spend just 20% of income on rent, well below the national affordability threshold and lower than most U.S. counties. With a median household income of $62,734 and rent at $1,044 monthly, Franklin offers one of Florida's most balanced housing markets.
Franklin leads Florida affordability
At 20% rent-to-income, Franklin ranks among Florida's most affordable counties, beating the state average of 22.5% by a meaningful margin. The county's $1,044 median rent falls $189 below the state median, marking Franklin as a rare affordability bright spot in Florida's housing landscape.
Franklin's rental advantage
Franklin County's $1,044 rent is the lowest among its comparable peers, undershooting Gadsden ($792 in a poorer county), Gulf ($1,161), and Flagler ($1,687) significantly. This combination of low rent and reasonable income makes Franklin especially attractive for budget-conscious renters seeking coastal access.
Franklin's balanced budget
Renters spend $1,044 monthly from a $62,734 median household income, leaving 80% of earnings for taxes, food, utilities, and savings. Homeowners encounter median monthly costs of $737 (14.1% of income), with a median home value of $254,300 that rewards both investors and families.
Franklin: Florida's hidden affordability
If you're relocating to Florida without coastal luxury demands, Franklin County delivers genuine affordability rarely found in the state. The county's below-average housing burden leaves more room in your budget for building wealth and enjoying the Gulf Coast lifestyle.
Cost of Living Advisory: Franklin County
Affordability Verdict
Franklin County offers affordable rental housing at a median of $1,044/month — about 20.0% of the typical household income here.
Rent vs. Own
The median rent in Franklin County is $1,044/month, while owner costs run $737/month. Owning saves approximately $307/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $41,760/year. For owner costs at the 28% rule, the required income is roughly $31,586/year. With a median household income of $62,734, most households can comfortably afford rent here. Notably, 30.0% of renter households in Franklin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Highlands County where rent averages $980/month, Franklin County is approximately 7% more expensive.
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
20.0%
of gross income
Max Housing (28% Rule)
$1,464
per month
Owner Cost Burden
14.1%
of gross income
The median home in Franklin County may be a stretch
Median home value is $254,300. Estimated monthly cost: $2,030 vs. your max of $1,464.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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