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)
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 County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Franklin County ranks #2,440 of 3,142 counties for affordability (bottom 22%)
Sourced county brief
Franklin County Renter Housing Costs Reach 32.8% Median Income
The official gross rent as a percentage of household income (GRAPI) in Franklin County was estimated at 32.8%. This metric, which is the official B25071 estimate, is 3.9 percentage points higher than the North Carolina unweighted county mean official GRAPI of 28.9%. Median gross rent was $1,083 per month, which is $106 above the state unweighted county mean of $977. For homeowners, median selected monthly owner costs were $1,142, exceeding the state unweighted county mean of $927. The median home value in the county was $284,300, compared to the state unweighted county mean of $235,312. Median renter-household income was $37,819. These figures provide a statistical snapshot of housing expenditures for the 2020-2024 period. 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 County
Affordability Verdict
ACS B25071 estimates median gross rent at 32.8% of renter household income in Franklin County, which is between the 30% and 50% rent-burden benchmarks. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $1,083 per month; median selected monthly owner costs are $1,142. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $43,320 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 North Carolina unweighted mean of county median rents is $977 per month. Franklin County's $1,083 median is 10.9% above that comparison value.
Data version acs5-2020-2024 · Method cost-advisory-v2
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
17.5%
of gross income
Max Housing (28% Rule)
$1,732
per month
Owner Cost Burden
18.5%
of gross income
The median home in Franklin County may be a stretch
Median home value is $284,300. Estimated monthly cost: $2,270 vs. your max of $1,732.
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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