Cost Of Living in Franklin, MI

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Franklin	Michigan	National
Cost of living	164	89	100
Goods & Services	102	93	100
Groceries	103	99	100
Health care	102	93	100
Housing	312	74	100
Transportation	100	97	100
Utilities	94	101	100

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Cost Of Living Quick Facts

The cost of living in Franklin is 84% higher than the Michigan average
The cost of living in Franklin is 64% higher than the national average
Franklin housing is 212% higher than the national average
Michigan general sales tax is 18% higher than the national average
Michigan state income tax is 64% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$162,188	$13,516	$3,784	$4,866
Renters	$140,000	$11,667	$3,266	$4,200

Michigan Sales Tax

State	General Sales Tax	With Max Surtax
Michigan	6%	6%

Michigan Income Tax

State	Income Tax (Low)	Income Tax (High)
Michigan	4.25%	4.25%

Goods & Services

Item	Franklin	National avg.	Difference
Haircut	$16.80	$24.26	30.8%
Beauty Salon	$24.78	$45.56	45.6%
Toothpaste	$3.66	$3.70	1.1%
Shampoo	$1.13	$1.28	11.8%
Movie	$12.99	$12.13	7.1%
Bowling	$12.33	$18.00	31.5%

Groceries

Item	Franklin	National avg.	Difference
Ground Beef	$5.75	$5.84	1.5%
Fried Chicken	$1.41	$1.57	10.4%
Milk	$4.78	$4.67	2.3%
Potatoes	$4.80	$4.93	2.8%
Pizza	$8.99	$12.09	25.6%
Beer	$9.04	$10.41	13.2%

Health Care

Item	Franklin	National avg.	Difference
Optometrist	$85.00	$125.68	32.4%
Doctor	$103.33	$135.78	23.9%
Dentist	$91.00	$113.29	19.7%
Ibuprofen	$10.22	$10.65	4.1%
Lipitor	$490.11	$468.60	4.6%

Housing

Item	Franklin	National avg.	Difference
Home Price	$595,400.00	$184,700.00	222.4%
Avg. Mortgage Payment	$1,709.07	$2,346.69	27.2%
Apartment Rent	$2,740.00	$949.00	188.7%

Transportation

Item	Franklin	National avg.	Difference
Gasoline	$3.35	$3.46	3.1%
Tire Balancing	$56.00	$59.92	6.5%

Utilities

Item	Franklin	National avg.	Difference
All Electricity	$219.20	$193.99	13.0%
Phone	$184.44	$192.25	4.1%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Highland Park, MI	10,818	82	18.3%
Detroit, MI	672,351	84	15.5%
Hamtramck, MI	21,704	86	14.3%
Pontiac, MI	59,714	86	13.5%
Center Line, MI	8,212	88	12.0%
Franklin, MI	2,877	164	64.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Mountain View, AR	2,877	85	15.3%
Kennedy, CA	2,877	110	10.1%
Zellwood, FL	2,877	91	8.8%
Springdale, NL	2,877	n/a
Gowanda, NY	2,876	81	18.8%
Franklin, MI	2,877	164	64.1%

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

Cost of Living in Franklin, MI