Short answer: housing is the big cost in Franklin, TN. The median Franklin home sold for $970,000 in September 2026, per Realtracs, and the Census puts Franklin's median rent at $1,923 a month, about 60% above the Tennessee median. The good news sits on the other side of the ledger: Tennessee doesn't tax wages, and Franklin's property tax works out to about half a percent of appraised value or less.
Below are the real numbers, from the state, the county, the city, the utilities and the Census Bureau, not a cost-of-living calculator. I live in Thompson's Station, just south of Franklin, and this is how I walk buyers through a Franklin budget.
Franklin Cost of Living at a Glance
| Cost | Franklin, TN |
|---|---|
| State income tax on wages | None |
| Sales tax | 9.75% (6.75% on groceries) |
| Property tax, per $100 of assessed value | $2.0633 or $1.566, depending on school district |
| Median sale price, September 2026 (Realtracs) | $970,000 |
| Median home value, 2020 to 2024 (Census) | $705,400 |
| Median monthly owner costs with a mortgage (Census) | $2,542 |
| Median gross rent (Census) | $1,923 |
| City trash pickup | $33 a month |
| Vehicle registration renewal | $54.75, wheel tax included |
Housing Costs in Franklin
Today's market: September 2026
Here's what actually sold in Franklin last month, from the MLS, with September 2025 in parentheses for comparison.
| September 2026 | All homes | Single-family | Condos and townhomes |
|---|---|---|---|
| Closed sales | 173 (153) | 143 (126) | 30 (27) |
| Median sale price | $970,000 ($925,000) | $1,100,000 ($1,040,500) | $488,500 ($585,000) |
| Average days on market, closed sales | 44 (26) | 41 (28) | 55 (19) |
| Active listings, monthly average | 758 (621) | 602 (506) | 156 (113) |
| Months of supply | 5.16 (4.87) | 4.95 (4.78) | 6.18 (5.27) |
Compared with a year earlier, the median sale price rose about 5% across all homes and about 6% for single-family homes, while homes took longer to sell and more of them were on the market. Condo and townhome prices fell, but one month of those sales is a small sample, so expect those numbers to swing. These figures cover homes with a Franklin mailing address, which includes some outside city limits.
Based on information from Realtracs® for the period September 1, 2026 through September 30, 2026, compared with September 1, 2025 through September 30, 2025.
The long-run comparison: Census
These are Census Bureau survey figures averaged over 2020 to 2024, so they run behind today's market. They're still the best apples-to-apples comparison.
| Measure | Franklin | Williamson County | Tennessee | United States |
|---|---|---|---|---|
| Median value, owner-occupied home | $705,400 | $751,900 | $286,700 | $332,700 |
| Median monthly owner costs, with a mortgage | $2,542 | $2,642 | $1,566 | $1,963 |
| Median monthly owner costs, no mortgage | $712 | $717 | $464 | $638 |
| Median gross rent | $1,923 | $1,969 | $1,189 | $1,413 |
For what a specific home costs today, I'll pull current sales for the neighborhoods you're looking at. If you're comparing parts of town, start with my guides to Westhaven, Berry Farms, Fieldstone Farms and Franklin condos and townhomes.
Property Taxes in Franklin
Tennessee taxes a home on 25% of its appraised value, called the assessed value. The rate is per $100 of assessed value, and in Franklin it depends on whether the address is in the Franklin Special School District, which levies its own tax.
| Franklin address | County | School district | City | Total per $100 assessed |
|---|---|---|---|---|
| Inside Franklin and the Franklin Special School District | $1.18 | $0.5873 | $0.296 | $2.0633 |
| Inside Franklin, Williamson County Schools | $1.27 | None | $0.296 | $1.566 |
What that means in dollars: every $100,000 of appraised value is $25,000 of assessed value. That works out to about $516 a year at the $2.0633 rate and about $392 a year at the $1.566 rate. As an example, a home appraised at $970,000, about September 2026's median sale price, would pay about $5,000 a year inside the Franklin Special School District and about $3,800 outside it.
A few details worth knowing:
- Rates above are for the 2025 tax year, the latest on the county's official rate chart. The City of Franklin's rate is still $0.296.
- Williamson County reappraised every property in 2025.
- Bills are due the first Monday of October and become delinquent March 1. The Williamson County Trustee collects the county, school district and City of Franklin taxes.
- Tennessee has property tax relief and freeze programs for qualifying homeowners, administered by the Williamson County Trustee. Williamson County has adopted the freeze for county taxes; the City of Franklin hasn't adopted it for city taxes.
Homes outside Franklin city limits with a Franklin mailing address don't pay the city rate at all. My guide to Franklin, TN zip codes explains how to tell.
Sales Tax, and No Income Tax on Wages
- Sales tax is 9.75% in Franklin: 7% state plus 2.75% Williamson County.
- Groceries are taxed at 6.75%: a 4% state rate on food plus the 2.75% local rate.
- Big purchases get a break on the local tax. The 2.75% local rate only applies to the first $1,600 of a single item. The state adds 2.75% on the part between $1,600 and $3,200, and nothing above that.
- No state tax on wages. Tennessee doesn't tax salaries, and the old Hall tax on interest and dividends was repealed for tax years starting in 2021.
Utilities in Franklin
The City of Franklin provides trash pickup inside city limits, and water and sewer to the addresses it serves. City rates below took effect January 1, 2026.
| Service | Residential rate, inside city limits |
|---|---|
| Water | $22.68 minimum for the first 1,000 gallons, then $5.58 per 1,000 gallons for the next 9,000 |
| Sewer | $28.55 minimum for the first 1,000 gallons, then $6.78 per 1,000 gallons for the next 14,000 |
| Trash and recycling | $33 a month for one container, picked up weekly |
| Stormwater | $2.87 or $4.60 a month, depending on whether the City classifies the property as small or large |
| Electric (Middle Tennessee Electric) | $21.81 a month basic service, plus $0.08108 per kWh and a fuel charge of $0.02136 per kWh in October 2026 |
| Natural gas (Atmos Energy) | $27.20 a month customer charge October through April ($25.20 May through September), plus $0.197 per Ccf and the monthly cost of gas |
Two quick examples. A household using 5,000 gallons of water in a month would pay about $45 for water and $56 for sewer. A home using 1,000 kWh of electricity would pay about $124 at October's rates. The fuel charge changes every month.
Not every Franklin address is on city water. The City says four water districts serve Franklin, and homes outside city limits pay different rates or use another provider, and arrange their own trash pickup. Ask for a recent bill on any home you're considering.
Car Costs
- Renewing a car's registration in Williamson County costs $54.75, which includes the plate fee and the county wheel tax. The wheel tax alone is $25.75.
- If you're moving here from another state, registering your car costs $68.75, including plate, title and wheel tax.
- Tennessee ended vehicle emissions testing in Williamson County in January 2022.
Your commute is the other car cost. The average Franklin worker's commute is 23.9 minutes, per the Census. Here's how far Franklin is from Nashville from each part of town.
How Franklin Compares
The federal government doesn't publish a cost-of-living index for Franklin itself. The closest official measure is the Bureau of Economic Analysis price level for the Nashville metro area, which includes Franklin. In 2024, the latest year available, prices across the metro ran about 3.7% below the national average. Housing ran about 5% above it, and utilities about 28% below it.
So the pattern holds: housing costs more here, while utilities cost less and there's no tax on wages. Inflation is the other moving piece. Prices across the South were up 3.1% over the 12 months ending August 2026, led by energy.
What Changes the Number for Your Budget
- City limits. Inside Franklin you pay the city property tax and get city trash pickup. Outside, you don't pay city tax, but you set up your own trash service.
- School district. A home in the Franklin Special School District pays its school tax on top of a lower county rate. In 2025, the combined rate ran about 32% higher than a Franklin home in Williamson County Schools.
- HOA dues. Many Franklin neighborhoods have an HOA, and dues vary a lot by community and by what they cover.
- Utility district. Your water and gas provider depend on the exact address.
Want a Real Budget for a Specific Home?
Send me the address. I'll tell you its tax rate, school district, utility providers and HOA, and estimate the monthly cost so there are no surprises after closing. If you're moving from out of state, start with what to know before you move to Franklin.
DM, text, or call me at 615-392-1186.
Frequently Asked Questions
Is Franklin, TN expensive to live in?
Housing is. The median Franklin home sold for $970,000 in September 2026, per Realtracs, and the Census puts Franklin's median rent at $1,923 a month, about 60% above the Tennessee median. On the other side, Tennessee doesn't tax wages, and utility prices across the Nashville metro ran about 28% below the national average in 2024.
What is the sales tax in Franklin, TN?
9.75%: 7% state plus 2.75% Williamson County. Groceries are taxed at 6.75%.
What is the property tax rate in Franklin, TN?
For the 2025 tax year, $2.0633 per $100 of assessed value inside the Franklin Special School District and $1.566 elsewhere in the city. Assessed value is 25% of appraised value.
How much are property taxes per $100,000 of home value in Franklin?
About $516 a year inside the Franklin Special School District and about $392 a year elsewhere in Franklin, based on 2025 rates.
Does Tennessee have a state income tax?
No. Tennessee doesn't tax wages, and the Hall tax on interest and dividends was repealed for tax years starting in 2021.
What is the grocery tax in Franklin, TN?
6.75%: a 4% state rate on food plus the 2.75% local rate.
How much is trash pickup in Franklin, TN?
$33 a month for one container with weekly curbside pickup, for homes inside city limits.
Who provides electricity in Franklin, TN?
Middle Tennessee Electric. Its October 2026 residential rate is $21.81 a month plus about 10.2 cents per kWh including the fuel charge. Confirm the provider for any specific address.
How much does it cost to register a car in Williamson County?
$54.75 to renew a registration, wheel tax included, and $68.75 to register a car you bring from out of state. There's no emissions test.
Is there an official cost-of-living index for Franklin, TN?
No. The closest official measure is the Bureau of Economic Analysis price level for the Nashville metro, which includes Franklin. In 2024 it ran about 3.7% below the national average.
Sources: Tennessee Department of Revenue (sales tax rates and Hall tax), Tennessee Comptroller (25% residential assessment), Williamson County 2025 property tax rate chart, City of Franklin property tax page, utility and sanitation rate schedules effective January 1, 2026, Middle Tennessee Electric rate schedule effective October 2026, Atmos Energy filing with the Tennessee Public Utility Commission effective June 1, 2026, Williamson County Clerk motor vehicle fees, Realtracs Market Trends for Franklin, September 2026, U.S. Census Bureau American Community Survey 2020-2024, Bureau of Economic Analysis Regional Price Parities 2024, and Bureau of Labor Statistics CPI for the South region, August 2026. Rates change; confirm them for any specific address. Header photo by Kimo Quance.
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