Cost of Living in Franklin County, Iowa
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
Data Story
About Cost of Living in Franklin County, Iowa
Franklin County ranks among most affordable
Franklin County residents spend just 12.2% of household income on rent—nearly 4 percentage points below the national trend. At $649 monthly with household incomes around $63,648, Franklin delivers genuine affordability by national standards.
Top performer in Iowa's affordability rankings
Franklin's 12.2% rent-to-income ratio significantly undercuts Iowa's 14.1% state average, making it one of the state's most affordable counties. Few Iowa communities offer housing costs this reasonable.
Franklin sets the region's affordability standard
Franklin County's $649 median rent is the lowest in the area, beating Floyd County ($672), Fremont ($753), Greene ($774), and Fayette ($813). Combined with reasonable incomes, Franklin residents keep more income in their pockets than anyone nearby.
Rent costs remarkably little here
Franklin households earn $63,648 annually while paying just $649 in median rent and $664 for homeownership—among the lowest housing costs statewide. With median home values of $118,500, Franklin offers genuine affordability across both rental and ownership markets.
Franklin offers unbeatable rural affordability
If you're seeking a rural Iowa home where housing costs barely dent your paycheck, Franklin County delivers the best value in this region. Low rents and low home values mean your relocation budget stretches furthest here.
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
12.2%
of gross income
Max Housing (28% Rule)
$1,485
per month
Owner Cost Burden
12.5%
of gross income
You can likely afford the median home in Franklin County
Median home value is $118,500. Estimated monthly cost: $946 vs. your max of $1,485.
Rent Affordability Guide
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.