Franklin appreciation rates and housing market information

Franklin housing market information

With 8,854 people, 4,512 houses or apartments, and a median cost of homes of $107,000, house prices in Franklin are solidly below the national average.

single-family detached homes are the single most common housing type in Franklin, accounting for 56.07% of the town's housing units. Other types of housing that are prevalent in Franklin include mobile homes or trailers (38.54%), duplexes, homes converted to apartments, or other small apartment buildings (2.68%), large apartment complexes or high rise apartments (1.71%), and a few row houses and other attached homes (0.66%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Franklin. Owner-occupied housing accounts for 69.24% of Franklin's homes, and 58.16% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Franklin built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Franklin built from 1940-1969 (17.13%). A lesser amount of the housing stock also hails from 1995 and later (15.89%), and some were built from 1939 and earlier (15.89%).

Vacant housing appears to be an issue in Franklin. Fully 10.39% of the housing stock is classified as vacant. Left unchecked, vacant Franklin homes and apartments can be a drag on the real estate market, holding Franklin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Franklin home appreciation rates

Real estate appreciation rates in Franklin have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 8.37% during the period.

NeighborhoodScout's data show that during the latest twelve months, Franklin home appreciation rates, at 2.74%, have been at or slightly above the national average. In the latest quarter, Franklin's appreciation rate has been -0.01%, which annualizes to a rate of -0.04%.

Relative to Georgia, our data show that Franklin's latest annual appreciation rate is higher than 39% of the other cities and towns in Georgia.