Is Franklin, TN Worth the Cost? A Real Cost of Living Breakdown Compared to Other Cities

Introduction: Why Everyone’s Talking About Franklin, TN

Franklin, Tennessee, often ranks as one of the most desirable small cities in America. Known for its charming Main Street, top-rated schools, and close proximity to Nashville, it’s no wonder so many people are considering a move here.

But the question remains: Is Franklin, TN worth the cost? With rising housing prices and increased demand, the cost of living has become a hot topic. Let’s unpack what you can really expect to pay and whether the lifestyle matches the price tag.

What Makes Franklin, TN So Special?

A Mix of Southern Heritage and Modern Growth

Franklin balances small-town charm with economic vitality. Historic downtown Franklin offers Civil War landmarks and quaint shops, while Cool Springs boasts major business parks and retail centers. This blend of old and new attracts professionals, families, and retirees alike.

Lifestyle, Community, and Livability

Residents enjoy a high quality of life thanks to beautiful neighborhoods, great schools, low crime rates, and an active local culture. Yet, all this appeal comes at a premium.

Understanding the Real Cost of Living in Franklin, TN

Housing Costs and Real Estate Market Trends

Franklin’s housing market has surged over the past decade. As of late 2025, the median home price exceeds $850,000, which is more than double the national average. Renting isn’t cheap either—expect around $2,200–$2,800 per month for a two-bedroom apartment.

New construction is booming in areas like Westhaven and Berry Farms, but with demand soaring, affordability remains a challenge for many newcomers.

Utility Bills, Groceries, and Everyday Expenses

Electricity and water bills run about 5–10% above national averages. A gallon of milk costs around $4.50, while dining out at a mid-range restaurant averages $70 for two people. Groceries and gas are higher than the Tennessee average but lower than coastal cities.

Transportation and Commuting Costs

Many Franklin residents commute to Nashville for work, about 25–30 minutes each way (without heavy traffic). Car insurance averages $1,400–$1,600 per year, and gas prices hover near the U.S. average.

Taxes and Healthcare Costs

Tennessee’s lack of a state income tax is a big plus. However, property taxes in Williamson County are higher than nearby counties due to high home values. Healthcare costs are roughly 8% above the national average.

How Franklin Compares: City-to-City Cost of Living Breakdown

As this table shows, Franklin is one of the most expensive small cities in the South. Yet, its safety, schools, and amenities make it stand out among regional peers.

Is Franklin’s High Price Tag Justified?

Education, Safety, and Quality of Life Factors

Franklin’s schools (part of Williamson County School District) rank among Tennessee’s best. Combined with a low crime rate and abundant green space, many families view the higher cost as an investment in quality of life.

Job Market and Income Potential

With employers like Nissan North America, Mars Petcare, and Community Health Systems, Franklin offers competitive salaries. Median household income sits around $120,000, higher than the U.S. median by nearly 60%.

Community, Amenities, and Local Perks

From the Main Street Festival to The Factory at Franklin, locals enjoy year-round events and premium amenities that make the price tag feel more worthwhile.

Pros and Cons of Living in Franklin, TN

Advantages

• Excellent schools and safe neighborhoods

• Strong local economy

• Beautiful historic charm and scenery

• Close to Nashville’s job market

Drawbacks

• High housing costs

• Limited public transportation

• Increasing congestion and population growth

Who Should Consider Moving to Franklin?

Families and Retirees

Franklin is perfect for those prioritizing safety, education, and community engagement.

Young Professionals and Entrepreneurs

If your job allows for remote work or a Nashville commute, Franklin’s quality of life is worth the cost.

Tips to Afford Life in Franklin Without Breaking the Bank

Smart Housing and Commuting Choices

Consider nearby areas like Thompson’s Station, Spring Hill, or Brentwood for more affordable housing with easy access to Franklin.

Budgeting for Local Lifestyle Costs

Plan for higher entertainment, dining, and property costs. Using local farmer’s markets and commuting smartly can help balance the budget.

Frequently Asked Questions (FAQs)

1. Is Franklin, TN really expensive?
Yes, Franklin’s overall cost of living is roughly 25% higher than the U.S. average.

2. Why is Franklin so expensive?
High demand, top schools, and limited housing supply have driven up prices.

3. Is it cheaper to live in Nashville?
Generally, yes—but Franklin offers more space and better schools.

4. What salary do you need to live comfortably in Franklin?
A household income of at least $120,000–$150,000 is ideal for comfortable living.

5. Are there affordable areas near Franklin?
Yes.  Look into Spring Hill, Fairview, or Columbia for lower-cost options.

6. Is Franklin good for families?
Absolutely. It’s known for being family-oriented with excellent schools and safe neighborhoods.

Conclusion: Is Franklin, TN Really Worth the Cost?

Ultimately, Franklin, TN is worth the cost if you value safety, education, and a vibrant community lifestyle. While it’s more expensive than nearby cities, the trade-off is a beautiful environment, rich culture, and strong sense of belonging.

If your finances allow it, Franklin delivers a lifestyle that few other Southern cities can match.

👉 Learn more about Franklin’s community and cost of living from Visit Franklin.