How Costly is Franklin TN?

Serious about transferring to Franklin, TN, however anxious about sticker shock?

Franklin has a status as certainly one of Tennessee’s pricier locations to stay. However this is what most individuals do not know: the upper prices would possibly truly make sense on your price range.

This information breaks down the true numbers for the price of residing in Franklin. You will see precisely what residents pay for housing, groceries, childcare, and every little thing else. Plus, we’ll present you the way Tennessee’s tax advantages can assist offset a few of these prices.

Price of Dwelling in Franklin, TN, at a Look (2025)

This is what you may pay to stay in Franklin:

• Median residence value: Mid-to-upper $800s (vs. mid-$400s nationwide median)
• Common lease (2BR): $2,200–$2,500/month
• Grocery invoice: $315–$525/month
• Childcare: $1,200 per 30 days
• Common commute to Nashville: 21 miles, 25–40 minutes
• State revenue tax: $0 (main financial savings!)
• Utilities: $200–$370/month
• Gasoline prices: 7–8% decrease than the nationwide common

What You will Truly Pay for Housing in Franklin

Housing prices dominate most budgets in Franklin. Let’s break down what you are .

Dwelling Shopping for Actuality Examine

The median residence value in Franklin sits across the mid-to-upper $800s. That is virtually double the nationwide common of the mid-$400s. (Excessive-end luxurious builds can simply skew the common. Franklin luxurious properties can hit double-digit thousands and thousands.)

However contemplate this: most Franklin properties on the market promote for $360–$370 per sq. foot, in comparison with the nationwide common of round $226. It is extra, sure, however not double. You are getting extra residence on your cash.

This is what a typical residence buy would possibly appear like:

• Dwelling value: $860,000
• Down cost (20%): $172,000
• Month-to-month mortgage cost: about $4,708 (together with property taxes and insurance coverage)

The costliest neighborhoods embody Hidden River, LaurelBrooke, and Lookaway Farms. For higher offers, try extra reasonably priced choices like Simmons Ridge or Riverview Park. You will discover single-family properties for much lower than the median residence value.

Rental Market Breakdown

Renting in Franklin prices about $1,800 on common for a one-bedroom condominium.

This is the total breakdown:

• Studio flats: $1,650–$2,000/month
• One-bedroom: $1,750–$1,900/month
• Two-bedroom: $2,200–$2,2500/month
• Three-bedroom: $3,000–$3,100/month

Sensible Housing Ideas

Take into account close by Spring Hill or Fairview for decrease housing prices whereas nonetheless having fun with easy accessibility to Franklin.

Property taxes in Franklin common $2.56 per $100 of assessed residence worth, however Tennessee makes use of an evaluation ratio of 25% for residential property. Do not estimate your property taxes primarily based on market worth, otherwise you’ll be working with inflated numbers.

Meals, Utilities, and Every day Prices (The Actual Numbers)

Your month-to-month bills past housing add up rapidly. This is what residents truly spend.

Grocery Finances Actuality

Franklin grocery prices run a bit extra than the nationwide common. 

A single grownup can sometimes count on to spend round $315–$525 per 30 days on groceries, relying on consuming habits. A family of 4 would possibly spend round $1,500.

Fashionable grocery shops embody Entire Meals, Kroger, and Publix. You will discover aggressive costs throughout all main chains.

Month-to-month Payments You Can Anticipate

Utilities in Franklin value about $200–$370/month for a typical condominium.

This is a breakdown of a typical invoice:

• Electrical energy: $180–$190/month (Tennessee common)
• Web (primary bundle): $35–$60/month
• Water: $35–$40/month
• Gasoline: $100–$110/month

Eating Out Finances

Franklin’s restaurant scene provides choices for each price range:

• Informal dinner for 2: $45–$65
• Upscale eating: $80–$120
• Espresso: $4–$6
• Downtown lunch: $12–$18

Fashionable native spots embody Puckett’s Restaurant, Grey’s on Primary, and 55 South. Many eating places characteristic stay music, particularly downtown.

Getting Round Franklin (And Attending to Nashville)

Transportation prices differ dramatically primarily based on the place you’re employed and the way you commute.

Commuting to Nashville

Many Franklin residents work in Nashville, simply 21 miles away. The everyday drive from Franklin to Nashville takes 25–40 minutes, however at peak site visitors, you would possibly see drives of as much as an hour.

Downtown Nashville parking might add one other $100–$200/month, with Metro-owned downtown parking costs of round $3–$20 for all-day parking.

Commuting with Public Transportation

WeGo Categorical provides bus service between Franklin and downtown Nashville. Three morning departures depart from the Williamson County AG Expo constructing at 6:11, 6:41, and 6:57 a.m. Return journeys run at 4:24, 5:02, and 6:09 p.m. Month-to-month passes are $65.

VanStar rideshare connects Franklin commuters heading to comparable work places. Sharing gasoline prices considerably reduces annual gasoline bills.

Native Transportation Bills

Franklin Transit supplies fixed-route and on-demand public transportation choices six days every week. Customary fare for mounted routes is $1, or half that for passengers 65 and older, disabled, or kids below 5. Veterans and lively navy trip free on all Franklin Transit routes.

Gasoline costs in Franklin run 7–8% decrease than the nationwide common. Automotive insurance coverage averages $1,500–$2,000/yr throughout Tennessee.

What Households Pay for Childcare in Franklin

Childcare is one other main expense for Franklin residents. Listed below are the real-world prices.

Daycare and Preschool Prices

The typical value for childcare in Franklin is round $21–$28 an hour. The typical daycare value is $1,200 per 30 days.

Toddler care prices probably the most, working $1,000–$2,700+/month. As youngsters become older, prices drop barely.

Fashionable Childcare Choices

Franklin provides a number of high quality childcare facilities:

• KinderCare Studying Facilities: A number of Franklin places
• Kiddie Academy of Franklin: Full academic packages
• The Studying Expertise: Newer facility with STEM focus
• Varied church-based preschools: Typically extra reasonably priced choices

Cash-Saving Ideas

Church-affiliated preschools sometimes value lower than business facilities. You may additionally contemplate nanny shares with neighbors to separate prices. Many employers supply childcare help packages—ask your HR division to see in the event you qualify.

Do Franklin Salaries Make Up for Increased Prices?

Increased residing prices are simpler to abdomen if native salaries compensate. This is what to learn about working in Franklin.

Job Alternatives

The job market spans healthcare, schooling, finance, tech, and retail sectors. Many residents work remotely or commute to Nashville’s bigger job market.

Median Family Revenue

Franklin is likely one of the wealthiest cities in Tennessee. The median family revenue in Franklin, TN, is $118,156. Evaluate this to the Nashville metro space, which has a median family revenue of $84,685, or Tennessee’s median family revenue of $67,631.

Tax Advantages

Tennessee’s tax construction helps your cash go additional:

• No state revenue tax on wages
• No tax on pension revenue
• Low property taxes in comparison with nationwide averages
• Common gross sales tax: 9.55% (larger than some states however manageable given no revenue tax)

How Franklin Stacks Up Towards Different Tennessee Cities

Franklin prices considerably greater than most Tennessee cities, however provides distinctive advantages.

Price Comparability

Franklin’s value of residing index reaches 139—that is round 40% above the U.S. common. 

Evaluate that to:

Why Folks Pay Extra for Franklin

Franklin provides a number of benefits that justify larger prices:

Is Franklin Definitely worth the Price?

Franklin prices about 39% greater than the common American metropolis. However for a lot of residents, the advantages justify the expense.

Tennessee’s lack of state revenue tax means extra money stays in your paycheck. Center Tennessee’s progress suggests continued funding potential.

Finances what you should stay comfortably in Franklin. That might embody housing, transportation, and each day bills. Take into account your complete life-style prices, not simply housing. Consider potential profession progress and revenue will increase over time. Even with larger prices, few Tennessee communities supply comparable benefits to Franklin.

Does Franklin sound like the proper place to stay? Contact The Ashton Actual Property Group of RE/MAX Benefit with Nashville’s MLS at (615) 603-3602 to get in contact with Franklin actual property brokers who can assist you discover the perfect Franklin residence.