Franklin vs Springfield
Cost of Living Comparison · 2026
Franklin
Springfield
The Verdict
Living in Springfield costs 78.2% less than Franklin. To match the purchasing power of a $75,000 salary in Franklin, you would need $42,086 in Springfield.
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 $42,086 in Springfield.
Conversely, $75,000 in Springfield equals $133,654 in Franklin.
Living in Franklin vs Springfield
Housing Costs
Franklin's housing index of 230 is higher Springfield's 52, translating to median home prices of $750,000 vs $162,000. The $588,000 difference in home prices means roughly $38,220 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,850/mo in Franklin compared to $925/mo in Springfield, a monthly difference of $925.
Grocery & Food Costs
Grocery expenses index at 100 in Franklin and 98 in Springfield. A household spending the national average of $475/month on groceries would pay approximately $475/month in Franklin vs $466/month in Springfield. 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 98 in Springfield. Monthly utility bills average approximately $388 in Franklin vs $392 in Springfield. Utility costs are relatively comparable between these two cities.
Healthcare
Healthcare costs index at 91 in Franklin and 91 in Springfield. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. Healthcare costs are relatively similar between these two cities, though individual plan costs can still vary.
Income & Purchasing Power
Median household income is $118,200 in Franklin and $65,500 in Springfield. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $85,036 and $83,974 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 $1,528/month in Springfield. In Franklin, median rent of $1,850/mo fits within this budget. In Springfield, median rent of $925/mo remains manageable. The biggest category-level difference between these two cities is Housing, where the gap is 178 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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