Cost of Living in Franklin
The biggest cost-of-living factor in Franklin, Massachusetts is housing. The median home is priced around $732K, or about $349 per square foot.
With 20% down on a median-priced home, the estimated monthly mortgage payment (principal and interest) is about $3,801, plus roughly $709 per month in property taxes. Rates and down payment change this figure significantly.
Franklin's FY2025 residential property tax rate is $11.62 per $1,000 of assessed value. Combined with home prices, that gives a clear picture of the monthly cost of owning in Franklin.