Retirement Lists

Cost of Living in Franklin, Tennessee

Intersection of 4th Avenue and Main Street in Franklin, Tennessee
Photo by Ichabod via Wikimedia, CC BY-SA 3.0

Franklin costs

A higher-cost Tennessee budget needs housing, taxes, flood review, cooling, traffic, and care visible

The catalog's 2024 ACS gross-rent anchors are $1,782 for one bedroom and $1,955 for two bedrooms, with a modeled local monthly estimate of $3,742. Census reports a $1,923 median gross rent and a $705,400 median owner-occupied value for 2020 to 2024. Franklin's city property tax is $0.296 per $100 of assessed value, before county and school taxes. Add utilities, insurance, transportation, care, and regional travel.

Request current rent or purchase terms, assessed value and tax details, utility history, flood and insurance information, roof and drainage records, parking, internet, vehicle costs, and the Williamson Medical Center route. A desirable historic location can still carry traffic, cooling, flood, insurance, or maintenance costs.

Planning a monthly budget

A local monthly estimate of $3,742 gives you the starting point, with housing taking the largest share.

Housing
$1,782
Utilities (in rent)
$238
Food
$460/mo
Transportation
$1,064/mo
Healthcare
$436

Utilities are included in housing so they are not added twice. The separate Utilities row is a reference estimate.

How the total can change

A traveler style stay, a couple household, and long term rent answer different planning questions.

Comfortable Living
$5,467

Moderate

Cost of Living for Couple
$5,128

Good

Typical 1BR Rent
$1,782

Very Good

Everyday expenses

Dining, transportation, taxes, and car needs can change how the monthly budget feels.

Dining Out
$216/mo

Excellent

Need for a Car
Required
Property Taxes
Low

Good

Overall Feel
Moderate
Residents 65+ Below Poverty Level
6.6%
65+ Householder — Renter Occupied
20.6%
65+ Households With High Housing Costs
32.8%
Median Household Income, Householder 65+
$80,194

Could Franklin fit your monthly retirement budget?

Compare your monthly budget with a city estimate. Add your expected housing amount when you have a more useful number.

Housing

Enter your expected rent and required housing charges, or leave this blank to use the current renter amount.

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Starting renter estimates

Use these broad monthly estimates as a starting point, then replace them with costs you know.

One person
$3,742 per month
Two people
$5,128 per month

One-person estimate breakdown

Housing
$1,782
Food
$460
Transportation
$1,064
Healthcare
$436

Taxes, debt, insurance, out-of-pocket care, travel, and one-time moving costs may not be included.

Franklin in everyday life

Could Franklin work for you?

What may work well

  • Census, city tax, and product sources provide identifiable housing, tax, and budget anchors.
  • The hospital, historic district, parks, classes, and events provide concrete weekly resources.

What to think about

  • The citywide figures are planning references, not a personal retirement budget.
  • Housing, taxes, cooling, flood exposure, insurance, traffic, vehicle use, and regional care can change the total substantially.

Price a Franklin household

  1. Compare several addresses

    Keep housing, city and county taxes, utilities, insurance, flood, cooling, traffic, vehicle, repairs, and service distance visible.

  2. Map recurring care

    Price Williamson Medical Center, specialists, pharmacy, groceries, regional referrals, fuel, parking, traffic, and aftercare.

  3. Reserve for heat and rain

    Keep room for cooling, dehumidification, roof work, drainage, trees, power, insurance, flood review, traffic, and a ride after difficult weather.

Questions retirees ask

Are the Franklin rent figures the full budget?

No. They are Census and product planning anchors. Add city, county, and school taxes, utilities, cooling, insurance, maintenance, transport, food, care, prescriptions, and regional trips.

Why do Franklin homes have different budgets?

Taxes, flood exposure, river and tributary proximity, cooling, traffic, parking, roof age, insurance, vehicle use, and care distance vary by address.

Franklin affordability depends on the actual home, taxes, flood and cooling plan, insurance, traffic, transport, care, and services used each week.

Sources

The budget value gives a starting point for everyday spending. Housing, healthcare, safety, and climate can change what feels comfortable for a household.

Housing mix, exchange rates, healthcare needs, car ownership, and travel style can move a real monthly budget materially.

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How this city research is made

Retirement Lists uses documented public sources and methods to research, review, and correct city information. Read our Editorial Policy.