Franklin appreciation rates and housing market information

Franklin housing market information

With 41,756 people, 17,214 houses or apartments, and a median cost of homes of $309,431, Franklin real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Franklin, accounting for 59.23% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments (26.35%), duplexes, homes converted to apartments, or other small apartment buildings (6.15%), row houses and other attached homes (5.76%), and a few mobile homes or trailers (2.50%).

The most prevalent building size and type in Franklin are three and four bedroom single-family detached homes. The city has a mixture of owners and renters, with 59.35% owning, and 34.12% renting.

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 1995 and later (40.29%). A lesser amount of the housing stock also hails from 1940-1969 (11.60%), and some were built from 1939 and earlier (11.60%).

Franklin home appreciation rates

Appreciation rates for homes in Franklin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 87.81%, which ranks in the top 30% nationwide. This equates to an annual average Franklin house appreciation rate of 8.78%.

Appreciation rates are so strong in Franklin that despite a nationwide downturn in the housing market, Franklin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Franklin appreciation rates continue to be some of the highest in America, at 3.58%, which is higher than appreciation rates in 80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Franklin. Franklin appreciation rates in the latest quarter were at 0.11%, which equates to an annual appreciation rate of 0.44%.

Relative to Tennessee, our data show that Franklin's latest annual appreciation rate is higher than 50% of the other cities and towns in Tennessee.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Franklin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Franklin - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Franklin real estate investment or home purchase decisions.