Cost of Living in Franklin County, Tennessee
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 #1,687 of 3,142 counties for affordability (bottom 46%)
Sourced county brief
Franklin County Median Home Value Reaches $236,900
Franklin County's median home value is $236,900, which is $13,515 above the Tennessee unweighted county mean of $223,385. In the rental market, the official median gross rent as a percentage of household income (GRAPI) is 26.1%. This official GRAPI is 0.8 percentage points lower than the state unweighted county mean of 26.9%. The median gross rent in the county was estimated at $894 per month, differing by $1 from the state unweighted county mean of $893. Median selected monthly owner costs for all owner-occupied units were $861, which is $73 above the state unweighted county mean of $788. The median renter-household income for the county was $43,047. These statistics are based on the 2020-2024 American Community Survey 5-Year Estimates. 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 26.1% of renter household income in Franklin County, which is below the 30% affordability benchmark. This is a median percentage among renter-occupied units, not the share of households above a threshold.
Rent vs. Own
Median gross rent is $894 per month; median selected monthly owner costs are $861. These ACS medians describe different tenure groups and are not a personalized rent-versus-buy calculation.
Income Needed
Using the common 30% budgeting benchmark, $35,760 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 Tennessee unweighted mean of county median rents is $893 per month. Franklin County's $894 median is 0.1% 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
16.9%
of gross income
Max Housing (28% Rule)
$1,482
per month
Owner Cost Burden
16.3%
of gross income
The median home in Franklin County may be a stretch
Median home value is $236,900. Estimated monthly cost: $1,891 vs. your max of $1,482.
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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