Cost of Living in Franklin
Franklin's cost of living pairs this batch's highest home values against a property tax rate that, while above the national median, runs genuinely lower than most of Milwaukee County.
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Learn moreThe priciest housing market in this five-city batch
Franklin's home-value figures ran $385,000 (Redfin median sale, November 2025) to $474,000 (Redfin median list, July 2026), with a separately cited $436,182 typical value -- all substantially above Wisconsin's own $335,500-$360,000 statewide median.
A property tax rate low for Milwaukee County, high nationally
Franklin's median effective property tax rate (1.53%, Ownwell) runs above the 1.02% national median, yet multiple sources this pass specifically cited Franklin as having among the lowest tax rates in Milwaukee County -- genuinely lower than this same batch's Greenfield (1.98%) and Oak Creek (1.70%).
A genuinely affluent household-income profile
Franklin's median household income ($106,894) runs well above the national median, with a comparatively low poverty rate (6.72%) -- the most affluent market in this five-city Wisconsin batch by this measure.
Wisconsin's 4-bracket income tax applies regardless
Wisconsin's real, progressive 4-bracket state income tax (3.50%-7.65%) applies statewide, including in Franklin, with no local/county piggyback layer. See wisconsin.js for the full bracket structure.
Key takeaways
- Home values ($385,000-$474,000) run substantially above Wisconsin's own statewide median -- the priciest in this batch.
- Effective property tax rate (1.53%) runs above the national median but low for Milwaukee County specifically.
- Median household income ($106,894) is the highest in this five-city batch.
- Wisconsin's statewide 4-bracket income tax applies regardless of city, with no local piggyback layer.
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