Cost of Living in Franklin County, Nebraska
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 #121 of 3,144 counties for affordability (top 4%)
Data Story
About Cost of Living in Franklin County, Nebraska
Franklin offers solid rental affordability gains
Franklin County's 12.8% rent-to-income ratio beats Nebraska's state average of 14.2% and sits comfortably below national norms, delivering good housing affordability. With a median household income of $57,692 and median rent of just $613, Franklin residents devote a smaller share of earnings to housing than the typical American. This county balances modest wages with genuinely low rents.
Franklin ranks above-average among Nebraska
At 12.8%, Franklin's rent-to-income ratio places it in Nebraska's upper half for affordability, outpacing the state average of 14.2%. Median rent of $613 runs 21.7% below the state average of $783, reflecting Franklin's rural character and low housing cost pressures. Franklin delivers solid affordability even with below-average statewide incomes.
Franklin rents sit near region's lowest
Franklin's $613 monthly rent ranks second-lowest in this region, just $25 more than Dundy County's $588 and substantially less than Deuel ($827) or Dodge ($985). While Franklin household incomes ($57,692) lag slightly behind some peers, the rent advantage makes overall affordability competitive. Franklin and Dundy form the region's affordable rental core.
Franklin families keep 87.2% for other costs
Franklin households earning $57,692 annually ($4,808/month) allocate $613 to rent—just 12.8%—leaving 87.2% for utilities, food, and savings. Homeowners enjoy strong affordability too: $561 monthly represents just 11.7% of income, making homeownership at median values of $99,100 highly accessible. Franklin's affordability favors both renters and buyers.
Franklin delivers genuine cost-of-living savings
Relocating to Franklin County means low housing costs across both markets: rents at $613/month and median home values of $99,100, the second-lowest in this analysis. Even at modest local wages ($57,692), housing will consume less than 13% of income, far below state and national averages. Franklin suits those prioritizing affordability in a rural Nebraska setting.
Cost of Living Advisory: Franklin County
Affordability Verdict
Franklin County offers affordable rental housing at a median of $613/month — about 12.8% of the typical household income here.
Rent vs. Own
Renters in Franklin County pay $613/month on average, compared to $561/month for homeowners. This market favors buyers by about 8%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $24,520/year. For owner costs at the 28% rule, the required income is roughly $24,043/year. With a median household income of $57,692, most households can comfortably afford rent here. Notably, 21.0% of renter households in Franklin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Fillmore County where rent averages $667/month, Franklin County is approximately 8% less expensive.
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
12.8%
of gross income
Max Housing (28% Rule)
$1,346
per month
Owner Cost Burden
11.7%
of gross income
You can likely afford the median home in Franklin County
Median home value is $99,100. Estimated monthly cost: $791 vs. your max of $1,346.
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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