Cost of Living in Franklin, TN
Population: 85,575 • 2026 Data
$115,000
Median Household Income
+49% vs national
$1,861
Median Monthly Rent
+38% vs national
$646,300
Median Home Value
+91% vs national
2.4%
Unemployment Rate
Housing in Franklin
The median home value in Franklin, TN is $646,300. Monthly rent for a typical unit averages $1,861, while total monthly housing costs (including utilities and insurance) average $1,915.
Rent-to-income ratio: 19.4%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Franklin, TN is $115,000. The unemployment rate stands at 2.4%, with a labor force of 46,499 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.