Cost of Living in Franklin Parish, Louisiana
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
These figures are county medians, not a personal budget. Use them to frame rent, ownership, and income tradeoffs, then account for household size, commute, financing, insurance, taxes, debt, and local availability before making a decision.
How Franklin Parish Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Franklin Parish ranks #235 of 3,142 counties for affordability (top 7%)
Sourced county brief
Franklin Parish Median Monthly Owner Costs Estimated at $532
Median selected monthly owner costs for all owner-occupied units in Franklin Parish were $532, which is $206 below the Louisiana unweighted county mean of $738. The official B25071 median gross rent as a percentage of household income (GRAPI) was 27.6%, sitting 5.1 percentage points below the state unweighted county mean of 32.7%. Median gross rent was recorded at $721 per month, compared to the state unweighted county mean of $914. The median home value was $113,000, while the state unweighted county mean was $167,369. Renter-household median income was $37,127, and the median income for all households was $47,020. These figures offer a statistical snapshot of the parish's cost environment. See ACS table B25071 for the underlying estimate.
Source record
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25064 Median Gross Rent
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25071 GRAPI
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25077 Median Home Value
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25088 Selected Monthly Owner Costs
- U.S. Census Bureau ACS 2020-2024 5-Year Estimates — B25119 Household Income by Tenure
Data version acs5-2020-2024 · Method cost-brief-v1
Cost of Living Advisory: Franklin Parish
Affordability Verdict
ACS B25071 estimates median gross rent at 27.6% of renter household income in Franklin Parish, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $721 per month; median selected monthly owner costs are $532. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $28,840 in annual gross income would allocate 30% to the county's median gross rent. This is a reproducible illustration, not evidence that a particular household can afford housing.
Regional Context
The Louisiana unweighted mean of county median rents is $914 per month. Franklin Parish's $721 median is 21.2% below that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Franklin Parish
Rent Burden
18.4%
of gross income
Max Housing (28% Rule)
$1,097
per month
Owner Cost Burden
13.6%
of gross income
You can likely afford the median home in Franklin Parish
Median home value is $113,000. Estimated monthly cost: $902 vs. your max of $1,097.
Rent Affordability Guide
Income Needed Calculator
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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 (2020-2024). Data is informational only and is not personalized financial advice.
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