Cost of Living in Franklin, ID

With a cost of living index of 95, Franklin, ID is slightly more affordable than average. Living here is 5% cheaper than the national average and 8% above the Idaho state average of 87. Franklin is a small community of 880 residents.

Housing costs are the biggest factor in Franklin's cost of living. The median monthly rent is $1,205 (9% below the US median of $1,319), and the median home value sits at $318,200 (4% above the national median of $304,900). At current prices, the median home costs roughly 4.9x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Franklin is $64,375, which is 14% lower than the national median of $75,149. Residents spend roughly 22% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Everyday prices in the Logan, UT-ID (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.