Cost of Living in Franklin, NH

With a cost of living index of 91, Franklin, NH is slightly more affordable than average. Living here is 9% cheaper than the national average and 11% below the New Hampshire state average of 102. Franklin is a smaller community of 8,757 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Franklin's cost of living. The median monthly rent is $1,088 (18% below the US median of $1,319), and the median home value sits at $243,800 (20% below the national median of $304,900). At current prices, the median home costs roughly 3.5x the median household income — a moderately affordable ratio by today's standards.

The median household income in Franklin is $69,870, which is 7% lower than the national median of $75,149. Residents spend roughly 19% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Franklin. The area sees an average annual temperature of 47.2°F, with summers averaging 69°F and winters around 25°F. Annual rainfall totals 42 inches spread over roughly 133 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

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.