Insurance Agent Salary in Franklin, IN: $59,601 (2026)
Quick Answer:A full-time insurance agent in Franklin, IN earns a median $59,601/year (≈ $28.66/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Franklin's price level (9% below national, BEA RPP 91.3), that paycheck buys what $65,280 would nationally. Nominal pay sits 1.7% below the Indiana state average.
Based on BLS state-level estimates · View source
In 2026, insurance agents in Franklin, Indiana, earn a median annual salary of $59,601, reflecting a local pay structure that is slightly lower than the national median of $64,522. The salary range for this occupation in the area extends from $35,921 at the 10th percentile to $92,382 at the 90th percentile, showcasing a significant variance in compensation based on experience, specialization, and book of business. These figures, derived from BLS state-level data and adjusted for regional living costs, illustrate the dynamic nature of the insurance market in Franklin. As the workforce of just 6 insurance agents indicates, the local market may be competitive but offers varying levels of pay based on the type of insurance sold, with commercial lines generally yielding higher commissions than personal lines.
About the Franklin Market
Salary estimated from Indiana average ($55,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $35,921 | $17.27 |
| Lower Range (P25) | $44,419 | $21.35 |
| Median (P50)(typical) | $59,601 | $28.66 |
| Upper Range (P75) | $76,289 | $36.67 |
| Top Earners (P90) | $92,382 | $44.41 |
Median Salary Position
7.63% below the national average
2026 Salary Percentile Distribution in Franklin
In Franklin, IN, the insurance agent salary spread from the 10th to 90th percentile is $56,461 (2026 est.). At $59,601, the local median is 7.63% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Franklin: You'd be in the lower-middle range
How Franklin Insurance Agent Pay Compares
Franklin median: $59,601/year (2026)
| Compared To | Median Salary | Franklin Pays |
|---|---|---|
| Indiana Average | $60,632 | -1.70% less |
| National Average | $64,522 | -7.63% less |
Insurance Agents in Franklin, IN earn a median of $59,601 per year (2026 est.), which is 7.63% lower than the national median of $64,522 and 1.70% below the Indiana state average of $60,632.
Cost-of-Living Adjusted Salary
Franklin has a cost of living 8.70% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Franklin, IN has a cost-of-living index of 91.3 (below the national average of 100). A insurance agent earning $59,601 nominally has purchasing power equivalent to $65,280 in an average-cost city — an effective 9.53% boost.
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2019 BLS Actual
$47,055
2025 BLS Actual
$57,530
2026 Current Est.
$59,601
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Franklin (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $47,055 | Actual |
| 2020 | $48,200 | Actual |
| 2021 | $46,039 | Actual |
| 2022 | $53,447 | Actual |
| 2023 | $54,574 | Actual |
| 2024 | $49,365 | Actual |
| 2025 | $57,530 | Actual |
| 2026(current) | $59,601 | Estimated |
| 2027 | $61,747 | Projected |
Based on 7 years of BLS OEWS data for the Franklin metropolitan area, the median insurance agent salary grew 22.3% from $47,055 (2019) to $57,530 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $61,747 by 2027 — a total increase of $14,692 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Franklin metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.60% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $35,921 – $44,419 |
| 3-5 years (Mid Career) | $44,419 – $59,601 |
| 5+ years (Experienced) | $59,601 – $76,289 |
| 10+ years (Top Earner) | $76,289 – $92,382 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Franklin
The job market for insurance agents in Franklin operates within the context of a cost-of-living index that sits at 91.3, indicating a relatively affordable living environment. This affordability allows for more effective take-home purchasing power, even as the local salaries hint at a competitive field. Among employers, captive agents from companies like State Farm and Allstate typically provide solid starting salaries with structured training, whereas independent agencies and larger brokerages may offer higher potential earnings through commissions and equity opportunities. Factors such as the size of a book of business, the variance in commission structures between commercial and personal lines, and the advantages of agency ownership all drive differences in pay. To maximize income in Franklin's market, aspiring agents may consider diversifying their skill set, pursuing additional licensing or credentials such as CPCU, and focusing on cultivating a robust business portfolio that includes commercial policies, which can significantly enhance overall earnings potential.
More salary data for Franklin, IN:
Frequently Asked Questions
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Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $57,530 for insurance agentsin the Franklin metropolitan area. A 3.60% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Franklin is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov