Cost of Living in Franklin, WI
Housing
The housing market plays a significant role in determining the cost of living in Franklin, WI.
- Housing Index: 90.0 / 100
- Median Home Price is: $305,000
- Average Rent (2 BR Apartment): $1200 per month
- Average Rent (2 BR House): $1200 per month
In Franklin, WI, the housing index stands at 90.0, suggesting a relatively balanced market for buyers and renters. The median home price of 305000 demonstrates an accessible entry point while maintaining full occupancy in both rentals at 1200 for apartments and 1200 for houses. With a growing population and jobs in diverse sectors, consider that owning a home can also build equity over time compared to renting. Overall, evaluate your long-term living plans, financial capabilities, and community preferences before deciding.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Franklin, WI.
- Electricity Price: $17.6 USD (median by state)
- Natural Gas Price: $11.5 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Franklin, WI could entail higher utility costs. Electricity costs sit at $17.6, while natural gas is priced at $11.5 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Franklin is a financially viable option for your relocation.