Franklin, Tennessee, a charming Southern gem known for its rich history, vibrant downtown, and strong sense of community, is consistently ranked as one of the best places to live in the state. But with its popularity comes a big question: Is Franklin affordable? If you’re considering relocating here, understanding the cost of living is crucial.

In this comprehensive guide, we’ll break down the cost of living in Franklin, TN across housing, utilities, transportation, healthcare, groceries, and more. Whether you’re a young professional, growing family, or retiree, you’ll get a clear picture of what life in Franklin might cost you, and how to budget smartly.

Why Franklin, Tenn. Is So Popular

Franklin blends small-town charm with big-city amenities. Located just 20 miles south of Nashville, it’s home to historic architecture, top-rated schools, scenic parks, and a lively music scene. Add in low crime rates and a booming job market, and it’s easy to see why people are flocking to the area.

But with growing demand comes rising costs. Let’s look at how that affects the overall cost of living.

Housing Costs

Housing is the biggest expense for most residents, and in Franklin, it’s significantly higher than the national average.

• Median home price: $775,000+
• Median rent for a 2-bedroom apartment: $2,000–$2,500/month
• Property taxes: Around 0.62% of assessed home value (lower than national average)

Franklin offers a range of housing, from luxury estates in gated communities to cozy historic homes near downtown. However, first-time homebuyers might find it hard to break into the market due to limited inventory and high prices.

If you’re planning to relocate, working with local experts like Franklin movers can help you navigate the logistics and protect your belongings as you settle into a new home.

Utility Costs

Franklin’s utility costs fall slightly below the national average.

• Electricity: ~$130/month for a typical household
• Water and sewer: ~$75/month
• Internet: ~$65/month for basic high-speed service
• Trash collection: Often bundled with city services

Thanks to Tennessee’s mild climate, heating and cooling costs aren’t as extreme as in some states. Plus, energy-efficient homes are becoming more common in newer developments.

Grocery Prices 

Grocery costs in Franklin are roughly 3–5% above the national average. While you’ll pay more than you would in smaller towns, local farmers’ markets and regional chains help keep prices somewhat in check.

Example prices:

• Gallon of milk: $4.00
• Dozen eggs: $3.50
• Loaf of bread: $3.25
• Chicken (1 lb): $5.50

Popular grocery stores in the area include Kroger, Publix, Whole Foods, and Aldi.

Transportation Costs 

Transportation is another key factor in the cost of living. Franklin is mostly car-dependent, with limited public transit.

• Average gas price: $3.25/gallon (varies)
• Car insurance: ~$120/month on average
• Vehicle registration: ~$40/year

While downtown Franklin is walkable, most residents commute by car, especially those who work in nearby Nashville. The city does offer a few public transportation options through the Franklin Transit Authority, but these are limited.

Healthcare Costs

Healthcare in Franklin is slightly more expensive than in other parts of Tennessee but still lower than major metros like New York or Los Angeles.

• Average doctor visit: $125
• Dental cleaning: ~$100
• Health insurance premium (individual): $400–$600/month depending on provider

Franklin is home to top-rated medical facilities like Williamson Medical Center, and many specialists are available within a short drive.

Education & Childcare Costs

If you’re moving with kids, Franklin offers outstanding public and private school options. But tuition and childcare costs can add up.

• Public schools: Highly rated, no tuition
• Private schools: $8,000–$25,000/year
• Childcare: ~$1,000–$1,500/month per child

Williamson County Schools are among the best in the state, making Franklin a popular destination for families.

Dining Out in Franklin

Franklin has a vibrant food scene, from classic Southern diners to high-end bistros. While eating out isn’t cheap, the quality is worth the price.

• Average meal at a casual restaurant: $18–$25 per person
• Three-course meal at mid-range restaurant: $60–$80 per couple
• Coffee: ~$5 for a specialty drink

Popular spots like Gray’s on Main, 55 South, and Red Pony Restaurant are local favorites that combine charm with flavor.

Entertainment & Lifestyle

Life in Franklin offers more than just beautiful homes and good schools, it’s a place where people enjoy the outdoors, live music, festivals, and culture.

• Fitness club membership: ~$50/month
• Movie ticket: ~$13
• Live music event ticket: $25–$75
• Yoga class: ~$18/session

Franklin’s annual Main Street Festival, Pumpkinfest, and Dickens of a Christmas draw thousands of visitors every year. There’s also a strong arts community, with local theaters and galleries scattered throughout downtown.

Property Taxes & Income Tax

Tennessee is one of the few states that doesn’t charge personal income tax, which is a major perk for residents.

• State income tax: 0%
• Sales tax: 7% (state) + 2.75% (local) = 9.75%
• Property tax rate (Franklin): ~0.62%, much lower than the U.S. average of 1.1%

This makes Franklin especially attractive for retirees and business owners who want to keep more of their income.

Job Market & Income

Franklin has a thriving economy, especially in healthcare, tech, finance, and education. Major employers include Nissan North America, Community Health Systems, and several tech startups.

• Median household income: ~$107,000
• Unemployment rate: ~2.9%
• Minimum wage: $7.25/hour (federal)

The combination of high-paying jobs and a pro-business environment draws professionals from all over the country.

Pros & Cons of Living in Franklin

Pros:

• Safe, family-friendly environment
• Top-rated schools and healthcare
• Beautiful parks and historic architecture
• No state income tax
• Proximity to Nashville

Cons:

• High housing costs
• Limited public transportation
• Rapid growth = more traffic
• Rising grocery and dining prices

For many, the lifestyle perks outweigh the costs, especially if you’re relocating from a more expensive area like California or the Northeast.

Is Franklin, TN Worth the Cost?

Franklin, TN is undeniably a premium location. You’ll pay more to live here, but you’re also investing in quality schools, safe neighborhoods, and a community filled with charm and culture.

If you’re financially prepared, Franklin is a wonderful place to call home. And when you’re ready to make that move, let Franklin movers handle the heavy lifting so you can focus on settling in. Whether you’re furnishing a new home, relocating locally, or need same-day delivery support, our team prides itself on being punctual, careful with items, and easy to work with.

With the right planning and professional support, your Franklin move can be smooth, affordable, and stress-free.