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)
How Franklin Parish Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Franklin Parish ranks #1,185 of 3,144 counties for affordability (top 38%)
Data Story
About Cost of Living in Franklin Parish, Louisiana
Right at the national affordability line
Franklin Parish renters spend 19.6% of income on rent, just above the national affordability benchmark of 18%, with a median household income of $44,103 sitting 41% below the U.S. average. This parish hovers near the tipping point where housing costs become genuinely stressful.
Slightly above state affordability average
Franklin's 19.6% rent-to-income ratio edges above Louisiana's state average of 19.5%, essentially tracking the state norm. The median rent of $719 runs 18% below the state average of $873, helping offset the parish's below-average income.
Competitive rents among rural peers
Franklin's $719 monthly rent sits between Evangeline ($663) and Grant Parish ($806), with income of $44,103 slightly above Evangeline ($42,273) but well below Grant ($61,112). The parish occupies the middle ground for rural affordability.
Renters and owners split fairly
Renters paying $719 monthly dedicate 19.6% of the $44,103 income to housing, while owners paying $541 (14.7%) enjoy more breathing room. Both housing types remain manageable relative to local earning power.
Balanced affordability for rural seekers
Franklin Parish offers reasonable rents ($719) and home prices ($117,200) for those seeking rural life, though median income of $44,103 suggests you should verify local job prospects. This parish works best for remote workers or those with secured outside income.
Cost of Living Advisory: Franklin Parish
Affordability Verdict
For renters in Franklin Parish, the market is affordable. Expect to pay around $719/month in gross rent, with 28.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Franklin Parish pay $719/month on average, compared to $541/month for homeowners. This market favors buyers by about 25%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $28,760/year. For owner costs at the 28% rule, the required income is roughly $23,186/year. With a median household income of $44,103, most households can comfortably afford rent here. Notably, 28.0% of renter households in Franklin Parish are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Washington Parish where rent averages $772/month, Franklin Parish is approximately 7% less expensive.
Affordability Calculator
See how your income compares to housing costs in Franklin Parish
Rent Burden
19.6%
of gross income
Max Housing (28% Rule)
$1,029
per month
Owner Cost Burden
14.7%
of gross income
You can likely afford the median home in Franklin Parish
Median home value is $117,200. Estimated monthly cost: $936 vs. your max of $1,029.
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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