Cost of Living in Franklin County, Indiana

$803/mo

Median Monthly Rent

$236,700

Median Home Value

9% below state averageUnaffordable

At a Glance

Median Monthly Rent

$803/mo

9% below state average

Median Home Value

$236,700

16% below national

Rent-to-Income Ratio

26.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Franklin County Compares

Median monthly rent comparison

Franklin County$803/mo

Indiana Average$883/mo

National Median$1,163/mo

Detailed Housing Stats

$803/mo

Median Gross Rent

$236,700

Median Home Value

$997/mo

Monthly Owner Cost

26.0%

Rent-to-Income Ratio

Data Story

About Cost of Living in Franklin County, Indiana

Franklin leads on rental affordability

Franklin County renters spend just 12.1% of their income on rent, the lowest ratio in this eight-county comparison and among America's best rental bargains. This eastern Indiana county combines strong wages of $79,702 with remarkably affordable housing costs.

Indiana's most affordable rental market

Franklin's 12.1% rent-to-income ratio ranks well above the state average of 15.6%, making it Indiana's clear leader for rental affordability. No county in this state delivers better value for renters than Franklin.

Best rents for best-paid workers

Franklin's median rent of $803 beats the state average despite the county having the second-highest median income at $79,702. This rare combination of affordable rents and strong wages makes Franklin an exceptional value destination.

Housing takes tiny bite of income

Renters pay $803 monthly and homeowners $997 against a median income of $79,702, the second-highest in this comparison. Housing costs consume just 12% of rent income or 15% of mortgage income, leaving maximum flexibility for other household needs.

Franklin is the relocation sweet spot

If you're seeking the best combination of affordable housing and strong wages, Franklin's 12.1% rent-to-income ratio sets the gold standard. This county should top your comparison list when evaluating Indiana relocation options.

Affordability Calculator

See how your income compares to housing costs in Franklin County

Your Annual Household Income

Rent Burden

12.1%

of gross income

Max Housing (28% Rule)

$1,860

per month

Owner Cost Burden

15.0%

of gross income

The median home in Franklin County may be a stretch

Median home value is $236,700. Estimated monthly cost: $1,890 vs. your max of $1,860.

Rent Affordability Guide

Your rent-to-income ratio12.1%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Franklin County, Indiana?

Franklin County, Indiana has a median monthly rent of $803/mo and a median home value of $236,700. The affordability rating is Unaffordable, with rent making up approximately 26.0% of median household income.

What is the median rent in Franklin County?

The median gross rent in Franklin County is $803/mo. This is 9% below state average for Indiana.

Is Franklin County affordable?

Franklin County is rated Unaffordable based on rent-to-income ratio of 26.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Franklin County's rent compare to the state average?

Franklin County's median rent of $803/mo is 9% below state average of $883/mo for Indiana.

What is the median home value in Franklin County?

The median home value in Franklin County, Indiana is $236,700. This is 16% below the national median home value of $281,900.