Cost of Living in Franklinville, NY

With a cost of living index of 62, Franklinville, NY is one of the most affordable cities in the country. Living here is 38% cheaper than the national average and 49% below the New York state average of 111. Franklinville is a small community of 2,063 residents.

Housing costs are the biggest factor in Franklinville's cost of living. The median monthly rent is $599 (55% below the US median of $1,319), and the median home value sits at $91,600 (70% below the national median of $304,900). At current prices, the median home costs roughly 1.3x the median household income — well within traditional affordability guidelines.

The median household income in Franklinville is $68,580, which is 9% lower than the national median of $75,149. Residents spend roughly 10% 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 Franklinville. The area sees an average annual temperature of 46.4°F, with summers averaging 66°F and winters around 26°F. Annual rainfall totals 37.2 inches spread over roughly 172 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.