Cost of Living in Franklin County, Kentucky
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 #1,994 of 3,144 counties for affordability (bottom 37%)
Data Story
About Cost of Living in Franklin County, Kentucky
Franklin balances income and costs
Franklin County's 17.1% rent-to-income ratio nearly matches Kentucky's state average of 17.0%, positioning it as a moderate-affordability market where housing doesn't dominate the budget. Median household income of $66,470 runs 11% below the national average, yet rents at $946/month stay reasonable for a county that includes Frankfort, Kentucky's capital.
State-average affordability in capital
Franklin County's 17.1% rent-to-income ratio practically matches Kentucky's statewide average, making it a bellwether of typical state affordability. Rents of $946/month run 23% above the state median of $771, reflecting Frankfort's status as a regional employment and government center.
Urban advantages over rural peers
Franklin's $946 rent sits between rural Fleming ($677) and Fayette County's urban premium ($1,101), offering a middle ground with better job diversity than surrounding counties. At 17.1%, Franklin's affordability ratio competes favorably with Garrard (15.2%) and Fleming (16.4%) while delivering more income opportunities than truly rural alternatives.
Capital city housing balance
Franklin households earning $66,470 annually spend $946 on rent (17.1% of income) or $982 on mortgage payments for homes valued near $198,700. This moderate burden leaves adequate income for savings and other priorities, supported by government and service-sector employment opportunities in Frankfort.
Franklin offers capital-city stability
Franklin County delivers state-average affordability paired with Frankfort's stable government employment market, making it an appealing option for those seeking moderate housing costs with reliable income prospects. At 17.1% rent-to-income, you're paying modestly for the advantage of a capital city's job diversity and community services.
Cost of Living Advisory: Franklin County
Affordability Verdict
Franklin County offers affordable rental housing at a median of $946/month — about 17.1% of the typical household income here.
Rent vs. Own
The median rent in Franklin County is $946/month, while owner costs run $982/month. Renting saves approximately $36/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $37,840/year. For owner costs at the 28% rule, the required income is roughly $42,086/year. With a median household income of $66,470, most households can comfortably afford rent here. Notably, 26.0% of renter households in Franklin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Kentucky, Franklin County is less affordable than Shelby County by roughly 5% ($946/mo vs $998/mo).
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
17.1%
of gross income
Max Housing (28% Rule)
$1,551
per month
Owner Cost Burden
17.7%
of gross income
The median home in Franklin County may be a stretch
Median home value is $198,700. Estimated monthly cost: $1,586 vs. your max of $1,551.
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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