Franklin, KY vs Ludlow, KY

Franklin, KY and Ludlow, KY have a very similar cost of living, with only a 3.4% difference in their overall index. Franklin scores 77 while Ludlow scores 79 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Franklin is $1,034/month compared to $1,115/month in Ludlow — a 7% difference. Interestingly, home values tell a different story: while Franklin has cheaper rent, Ludlow actually has lower median home values ($154,700 vs $170,400).

Median household income in Franklin is $55,552 compared to $58,295 in Ludlow (-4.7%). While Ludlow is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Franklin spend roughly 22.3% of their income on rent, less than the 23% in Ludlow.