Franklin vs Rapid City
Cost of Living Comparison · 2026
Franklin
Rapid City
The Verdict
Rapid City is 41.8% less expensive than Franklin overall. A household earning $75,000 in Franklin would need approximately $52,878 in Rapid City to maintain the same standard of living.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Franklin has the same purchasing power as $52,878 in Rapid City.
Conversely, $75,000 in Rapid City equals $106,378 in Franklin.
Living in Franklin vs Rapid City
Housing Costs
Franklin's housing index of 230 is higher Rapid City's 91, translating to median home prices of $750,000 vs $325,000. The $425,000 difference in home prices means roughly $27,624 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Franklin compared to $1,100/mo in Rapid City, a monthly difference of $750.
Grocery & Food Costs
Grocery expenses index at 100 in Franklin and 102 in Rapid City. A household spending the national average of $475/month on groceries would pay approximately $475/month in Franklin vs $485/month in Rapid City. The difference in grocery costs between these cities is relatively minor and unlikely to be a deciding factor in relocation.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 97 in Franklin and 87 in Rapid City. Monthly utility bills average approximately $388 in Franklin vs $348 in Rapid City. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 91 in Franklin and 107 in Rapid City. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 16-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $118,200 in Franklin and $70,900 in Rapid City. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $85,036 and $72,347 respectively. Franklin residents enjoy stronger real purchasing power despite higher nominal wages.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $2,758/month to housing in Franklin vs $1,654/month in Rapid City. In Franklin, median rent of $1,850/mo fits within this budget. In Rapid City, median rent of $1,100/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 139 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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