Pros and Cons of Living in Franklin

Franklin's core trade-off pairs genuinely affordable housing, a 5-star-rated hospital, and a distinct college-town character against a longer Indianapolis commute and a real, disclosed household-income data spread.

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Pro: affordable housing and a low combined tax burden

Franklin's average home value ($280,616) and combined income tax rate (approximately 3.95%) both run genuinely low by national standards.

Pro: Franklin College and a 5-star-rated hospital

Franklin College's private liberal-arts profile and Johnson Memorial Health's real, current 5-star CMS rating together give Franklin a distinct identity among this state's Indianapolis-metro exurbs.

Con: a longer Indianapolis commute

Franklin's real, approximately 45-minute commute to downtown Indianapolis runs longer than several closer-in Indianapolis-metro suburbs (Greenwood, Fishers, Noblesville).

Con: a real, disclosed household-income spread and moderate school ratings

Franklin's median household income carries a real, disclosed cross-source spread ($72,000-$86,940), and Franklin Community Schools carries a moderate, meets-expectations (not top-tier) performance framing.

Key takeaways

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Last reviewed: 2026-08-27. Independent research; not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.