Franklin, WI Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

Cost Of Living In Franklin, WI Summary

Cost of living in Franklin research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Franklin is expensive. An index value below 100 means the city is a relatively cheap place to live.

On a city-by-city basis in Wisconsin, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:

  • The cost of living index in Franklin is 104, with 100 being the average.

  • The cost of living index in Franklin is 1.0x higher than the national average.

  • Franklin ranks as the #116 cheapest in Wisconsin out of 143.

  • Franklin ranks as the #3,585 cheapest out of 6,412 in the US.

  • The median home value in Franklin is $280,000.

  • The median income in Franklin is $89,927.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
104
Franklin's Overall Cost Of Living
1.0x
Higher Than The National Average

What is the cost of living in Franklin, WI?

According to the most recent data on the cost of living, Franklin has an overall cost of living index of 104, which is 1.0x higher than the national index of 100.

Compared to Wisconsin, Franklin has a cost of living index that's 1.1x higher than Wisconsin's index of 95.

The standard of living in Franklin ranks as #116 most affordable out of the 143 places we measured in Wisconsin. By definition, that implies Franklin ranks as the #27 most expensive place in the Badger State.

For more reading on life in Franklin, check out:

116 out of 143
In Wisconsin
3,585 out of 6,412
In America

Franklin Cost Of Living Vs. Wisconsin

Six factors go into calculating the cost of living index in Franklin. Here is how it fairs on each of the criteria:

  • The Services index in Franklin is 93.

  • The Groceries index in Franklin is 95.

  • The Health index in Franklin is 114.

  • The Housing index in Franklin is 118.

  • The Transportation index in Franklin is 90.

  • The Utilities index in Franklin is 97.

Living Expense Franklin Wisconsin National Average
Overall 104 95 100
Services 93 97 100
Groceries 95 98 100
Health 114 114 100
Housing 118 84 100
Transportation 90 96 100
Utilities 97 103 100
For more reading on cost of living around Wisconsin, check out:
Franklin Cost of Living Vs. WI

Franklin, WI Housing Cost Breakdown

Housing swings affordability the most between places in Wisconsin, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:

  • The Median Home Value in Franklin is $280,000.

  • The Median Rent in Franklin is $1,132.

  • The Median Income in Franklin is $89,927.

  • The Home Value To Income in Franklin is 3.1x.

  • The Rent To Monthly Income in Franklin is 0.15x.

Statistic Franklin Wisconsin United States
Median Home Value $280,000 $200,400 $244,900
Median Rent $1,132 $916 $1,163
Median Income $89,927 $67,080 $69,021
Home Value To Income 3.1x 3.0x 3.5x
Rent To Monthly Income 0.15x 0.16x 0.2x
Search Homes For Sale In Franklin, WI
$280,000
Median Home Value
$1,132
Median Rent
$89,927
Median Income

Franklin, WI Costs By Category

Detailed Franklin Services Costs Vs. Wisconsin

Item Franklin Wisconsin
Shampoo $1.09 $1.06
Movie $11.14 $10.68
Bowling $16.27 $14.67
Haircut $22.22 $18.62
Beauty Salon $41.93 $39.05

Detailed Franklin Groceries Costs Vs. Wisconsin

Item Franklin Wisconsin
Ground Beef $4.05 $4.22
Fried Chicken $1.22 $1.39
Milk $1.98 $2.05
Potatoes $2.49 $3.29
Pizza $10.35 $10.62
Beer $7.84 $9.38
Toothpaste $2.24 $2.34

Detailed Franklin Health Costs Vs. Wisconsin

Item Franklin Wisconsin
Optometrist $60.0 $108.57
Doctor $175.4 $116.17
Dentist $101.1 $99.13

Detailed Franklin Transportation Costs Vs. Wisconsin

Item Franklin Wisconsin
Gasoline $2.01 $2.22
Tire Balancing $47.04 $50.07

Detailed Franklin Utilities Costs Vs. Wisconsin

Item Franklin Wisconsin
All Electricity $159.26 $167.67
Phone $178.69 $175.64

Franklin SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
8
Diversity
8
Safety
8
Amenities
8
Education
8.5
Commute
7

Cost Of Living In Cities Around Franklin

The cost of living varies in the cities and towns around Franklin. Here's a quick look at the cost of living in the most populous nearby places:

  • West Allis, WI has a cost of living index of 92, 0.9x Franklin.

  • Wauwatosa, WI has a cost of living index of 102, 1.0x Franklin.

  • Brookfield, WI has a cost of living index of 112, 1.1x Franklin.

City Population Cost Of Living Vs. Franklin
West Allis, WI 60,220 92 0.9x
Wauwatosa, WI 48,072 102 1.0x
Brookfield, WI 41,020 112 1.1x
New Berlin, WI 40,289 103 1.0x
Menomonee Falls, WI 38,219 103 1.0x
Greenfield, WI 37,623 93 0.9x
Oak Creek, WI 36,266 99 1.0x
Muskego, WI 24,991 108 1.0x
South Milwaukee, WI 20,785 93 0.9x
Cudahy, WI 18,197 91 0.9x

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