Cost of Living in Franklin County, Missouri
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 #2,328 of 3,144 counties for affordability (bottom 26%)
Data Story
About Cost of Living in Franklin County, Missouri
Franklin Balances Higher Income with Higher Costs
Franklin County's rent-to-income ratio of 14.6% sits below the national benchmark, reflecting stronger local incomes ($71,973) that absorb higher housing costs ($874 rent, $1,055 ownership). Though rents and mortgages run above national norms, Franklin households have the earnings to support them.
Franklin Ranks Above Average in State Affordability
At 14.6%, Franklin County's rent-to-income ratio beats Missouri's state average of 15.6%, positioning it as one of the state's more affordable counties despite higher absolute housing costs. The county's median income of $71,973 is the highest in this group, enabling families to absorb $874 rent with relative ease.
Franklin Commands Premium for Regional Leadership
Franklin's median rent ($874) and ownership costs ($1,055) far exceed neighboring Gasconade ($671 rent, $695 ownership) and Dent ($615 rent, $646 ownership). Yet Franklin's median household income of $71,973 allows residents to maintain a better affordability ratio than lower-income neighbors.
Income Strength Makes Costs Manageable Here
Franklin renters dedicate 14.6% of their $71,973 annual income to $874 monthly rent, while homeowners spend 17.5% on ownership costs ($1,055/month). Both percentages remain below the 30% affordability threshold, giving Franklin residents genuine financial breathing room.
Franklin: Premium Housing, Premium Incomes Required
Franklin County suits relocating professionals and established families seeking suburban growth and quality housing: median home values reach $214,900, the highest in this group. If your salary approaches Franklin's $71,973 median or higher, this county's robust affordability supports a comfortable lifestyle.
Cost of Living Advisory: Franklin County
Affordability Verdict
Franklin County offers affordable rental housing at a median of $874/month — about 14.6% of the typical household income here.
Rent vs. Own
Renters in Franklin County pay $874/month on average, compared to $1,055/month for homeowners. This market favors renters by about 17%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $34,960/year. For owner costs at the 28% rule, the required income is roughly $45,214/year. With a median household income of $71,973, most households can comfortably afford rent here. Notably, 25.0% of renter households in Franklin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Franklin County sits 6% more expensive than Benton County ($823/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
14.6%
of gross income
Max Housing (28% Rule)
$1,679
per month
Owner Cost Burden
17.6%
of gross income
The median home in Franklin County may be a stretch
Median home value is $214,900. Estimated monthly cost: $1,716 vs. your max of $1,679.
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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