Cost of Living in Franklin County, North Carolina
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
Data Story
About Cost of Living in Franklin County, North Carolina
Franklin leads North Carolina affordability
Franklin residents spend just 16.6% of their $71,386 median income on rent—well below the national and state averages. At $988 monthly, rents here remain accessible to families earning near the state median, making Franklin one of the state's most affordable urban counties.
Best-in-class affordability statewide
Franklin's rent-to-income ratio of 16.6% ranks among the lowest in North Carolina, beating the state average of 18.6% by two percentage points. The county combines above-average incomes with below-average rents, a rare combination in today's market.
Sweet spot between rural and urban
Franklin's $988 rent and 16.6% ratio outperform Forsyth (19.1%), Granville (17.0%), and Edgecombe (20.3%) in pure affordability. The county balances Raleigh-area job access with rural North Carolina pricing, attracting remote workers seeking lower costs.
Housing takes reasonable share of income
Renters spend $988 monthly while homeowners pay $1,089 on incomes averaging $71,386, with renters enjoying better affordability than owners. Housing costs total roughly $11,900 annually for renters, leaving substantial room for savings and other expenses.
Top pick for budget-conscious relocators
Franklin County delivers the rare combination of above-average incomes, below-average rents, and proximity to the Raleigh-Durham job market. If you can work remotely or land a job in nearby Wake County, Franklin offers 30% better affordability than most comparable North Carolina markets.
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,666
per month
Owner Cost Burden
18.3%
of gross income
The median home in Franklin County may be a stretch
Median home value is $240,900. Estimated monthly cost: $1,923 vs. your max of $1,666.
Rent Affordability Guide
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.