Franklin, MN vs Lakeland, MN

The cost of living difference between Franklin, MN and Lakeland, MN is dramatic. Franklin is 41.8% cheaper than Lakeland, a gap that translates to thousands of dollars per year in household expenses. Franklin has a cost index of 67 while Lakeland sits at 116, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Franklin is $883/month compared to $1,644/month in Lakeland — a 46% difference. Home values follow the same pattern: Franklin is more affordable at $84,800 median vs $357,700.

Median household income in Franklin is $54,904 compared to $101,339 in Lakeland (-45.8%). While Lakeland 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 19.3% of their income on rent, less than the 19.5% in Lakeland.

Climate-wise, both cities share similar average temperatures (45.4°F vs 46.5°F). Lakeland receives more rainfall at 29.2" per year compared to 28" in Franklin.