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)
How Franklin County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Franklin County ranks #1,836 of 3,144 counties for affordability (bottom 42%)
Data Story
About Cost of Living in Franklin County, Tennessee
Franklin County Slightly Below National Affordability
Franklin County's rent-to-income ratio of 16.8% is competitive nationally, though renters here spend a larger share of income on housing than the national average. With a median household income of $61,553, the $863 monthly rent represents a manageable but noticeable household expense.
Middle of the Tennessee Pack
Franklin County's 16.8% rent-to-income ratio places it slightly better than Tennessee's 17.6% state average, showing moderate affordability within the state context. Renters pay just $3 more monthly than the state median, putting Franklin County in the sweet middle for Tennessee housing costs.
Pricier Than Rural Peers, But Stable
Franklin County's $863 median rent exceeds nearby Giles County ($836) and Gibson County ($797), reflecting its more developed character as a county seat. However, it undercuts higher-cost areas while offering better services and amenities than more remote counties.
Franklin County Housing Cost Snapshot
Renters allocate 16.8% of Franklin County's $61,553 median income to housing, while homeowners spend 16.1% on monthly costs of $827. This balanced burden means housing takes a meaningful but not overwhelming share of household budgets.
Franklin County Offers Balanced Living
If you want a mid-sized Tennessee county with reasonable housing costs and moderate services, Franklin County's $863 rent and $215,700 median home values represent fair-market pricing. Compare it against pricier urban counties and lower-cost rural areas to find your affordability sweet spot.
Cost of Living Advisory: Franklin County
Affordability Verdict
Housing in Franklin County is affordable. The median rent is $863/month against a median household income of $61,553, putting rent at 16.8% of income.
Rent vs. Own
Renters in Franklin County pay $863/month on average, compared to $827/month for homeowners. This market favors buyers by about 4%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $34,520/year. For owner costs at the 28% rule, the required income is roughly $35,443/year. With a median household income of $61,553, most households can comfortably afford rent here. Notably, 26.0% of renter households in Franklin County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Tennessee, Franklin County is more affordable than Henderson County by roughly 6% ($863/mo vs $812/mo).
Affordability Calculator
See how your income compares to housing costs in Franklin County
Rent Burden
16.8%
of gross income
Max Housing (28% Rule)
$1,436
per month
Owner Cost Burden
16.1%
of gross income
The median home in Franklin County may be a stretch
Median home value is $215,700. Estimated monthly cost: $1,722 vs. your max of $1,436.
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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