Franklin is considered moderately expensive in 2025, with average rent for a 2-bedroom apartment around $2,100 and slightly higher property taxes and home prices compared to the national average.
Imagine you’re Sarah, a 32-year-old accountant who just accepted a job offer in Franklin, Tennessee. As you start apartment hunting and creating a budget, the reality of the cost of living in this charming Nashville suburb begins to sink in. Let’s take a closer look at what Sarah and others moving to Franklin in 2025 can expect in terms of monthly expenses.
Housing Costs in Franklin
Housing is the biggest chunk of most people’s budgets, and Franklin is no exception. In 2025, the typical rent for a 2-bedroom apartment in Franklin ranges from $1,900 to $2,300 per month, depending on the neighborhood and amenities. Newer complexes in desirable areas like Cool Springs tend to be on the higher end.
For those looking to buy, the median home price in Franklin is around $650,000 for a 3-bedroom house. However, prices can easily top $1 million in luxury neighborhoods like Laurelbrooke or Westhaven. Property taxes in Williamson County are also slightly higher than the national average at 0.73%.
Many neighborhoods in Franklin have active homeowners associations (HOAs) that provide amenities and maintain common areas. Typical HOA fees range from $200 to $400 per month. While not mandatory, living in a non-HOA neighborhood is less common in Franklin.
Utilities and Energy Bills
Utility costs in Franklin are fairly moderate thanks to Tennessee’s temperate climate. However, summer cooling bills can spike due to humidity. For a 2-bedroom apartment, residents can expect the following average monthly costs:
- Electricity: $120
- Water/Sewer/Trash: $60
- Natural Gas: $40
- Internet: $70
Larger homes will have proportionally higher utility bills, especially for electricity in the summer months. Installing energy-efficient appliances and windows can help keep costs manageable.
Groceries and Daily Expenses
Grocery costs in Franklin are about 5% higher than the national average. A single person can expect to spend around $350 per month on groceries, while a family of four will likely spend closer to $1,100. This assumes a mix of cooking at home and occasional dining out.
To put this in perspective, a gallon of milk in Franklin typically costs around $3.80, a dozen eggs $2.50, and a pound of chicken breast $4.50. Dining out can add up quickly, with a basic meal at a casual restaurant averaging $15 per person before tax and tip.
Taxes and Hidden Fees
As mentioned, property taxes in Williamson County are slightly higher than average at 0.73%. For a $650,000 home, that equates to $4,745 per year or about $395 per month.
Tennessee has a relatively low sales tax rate of 7%, but localities can add up to 2.75%. In Franklin, the total sales tax is 9.75%, which applies to most goods and some services. Tennessee has no state income tax, which can help offset other costs.
Vehicle registration fees in Williamson County are $29 per year, plus applicable wheel taxes based on vehicle type. Drivers should also budget for car insurance, which averages $1,200 per year in Franklin for a single adult with a clean record.
Summary Budget Table
| Expense Category | Single Person | Couple | Family of 4 |
|---|---|---|---|
| Housing (Rent, 2BR) | $2,100 | $2,100 | $2,500+ |
| Utilities | $290 | $350 | $500 |
| Groceries | $350 | $700 | $1,100 |
| Transportation | $200 | $300 | $400 |
| Healthcare | $300 | $600 | $1,200 |
| Misc/Entertainment | $250 | $500 | $800 |
| Total Monthly Expenses (pre-tax) | $3,490 | $4,550 | $6,500+ |
Note that these figures are broad estimates and actual budgets can vary significantly based on individual circumstances and lifestyle preferences. All figures represent gross monthly income (pre-tax).
Lifestyle Considerations
While the cost of living in Franklin is higher than the national average, many residents find the tradeoffs worthwhile. Franklin consistently ranks as one of the best places to live in Tennessee thanks to its high-quality schools, safe neighborhoods, thriving job market, and historic charm.
However, affordability often means compromising on space or commute times. Those working in Nashville may spend 45+ minutes each way on I-65, while those who prioritize a walkable lifestyle may have to settle for a smaller home or apartment.
Access to parks, community events, and a quaint downtown help balance out the higher costs for many residents. But those on tighter budgets may find better value in nearby cities like Spring Hill or Murfreesboro.
Frequently Asked Questions
- Q: What salary do you need to live comfortably in Franklin?
A: A gross monthly income of at least $4,500 for a single person or $6,500 for a family is recommended to live comfortably in Franklin as of 2025. However, this can vary based on individual definitions of comfort. - Q: Is Franklin more expensive than Nashville?
A: Yes, Franklin tends to be 10-20% more expensive than Nashville on average, particularly when it comes to housing. However, some people find the higher costs worthwhile for the schools, safety, and suburban amenities. - Q: Are property taxes high in Franklin?
A: Property taxes in Franklin are slightly higher than the national average at 0.73%. For a $650,000 home, that equates to about $395 per month. - Q: How much does childcare cost in Franklin?
A: Childcare costs in Franklin vary but typically range from $1,000 to $1,500 per month per child for full-time care. Some employers offer dependent care FSAs that can help offset these costs. - Q: Are utilities expensive in Franklin?
A: Utilities in Franklin are fairly moderate but can spike in the summer due to air conditioning needs. An average 2-bedroom apartment will spend around $290 per month on utilities. - Q: Is Franklin a good place to retire?
A: Franklin can be a good place to retire for those who prioritize safety, community events, and a walkable downtown. However, the higher cost of living and property taxes may be a strain for some retirees on fixed incomes.