Franklin, IN Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Franklin, IN Housing Market Trends

With a population of 25,608, 9,295 total housing units (homes and apartments), and a median house value of $155,340, 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 68.25% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 12.73%), row houses and other attached homes ( 8.58%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.00%).

The most prevalent building size and type in Franklin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.71% owning and 36.29% renting.

There is a lot of housing in Franklin built from 1970 to 1999 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 between 2000 and later ( 26.73%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.30%). There's also some housing in Franklin built before 1939 ( 13.33%).

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 52.31%, which ranks in the top 40% nationwide. This equates to an annual average Franklin house appreciation rate of 4.30%.

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 10.61%, which is higher than appreciation rates in 72.33% 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 2.12%, which equates to an annual appreciation rate of 8.75%.

Relative to Indiana, our data show that Franklin's latest annual appreciation rate is higher than 80% of the other cities and towns in Indiana.

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 2000, to assist you in making the best Franklin real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$155,340

Franklin, IN HOME PRICES

> $1,252,000
0.2%
0.2%
$939,001 - $1,252,000
0.0%
0.0%
$626,001 - $939,000
0.8%
0.8%
$501,001 - $626,000
1.8%
1.8%
$376,001 - $501,000
4.3%
4.3%
$250,001 - $376,000
11.7%
11.7%
$125,001 - $250,000
49.8%
49.8%
$62,001 - $125,000
25.3%
25.3%
$0 - $62,000
6.0%
6.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Average for IN

Value Relative To Nation

Number Of Homes And Apartments:
9,295

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
49.09% 1.87%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,139 / per month

Homeownership Rate

Owners
63.7%
63.7%
Renters
36.3%
36.3%
Vacant
6.9%
6.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
26.7%
26.7%
1970 - 1999
43.6%
43.6%
1940 - 1969
16.3%
16.3%
1939 or Older
13.3%
13.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
68.2%
68.2%
Townhomes
8.6%
8.6%
Small Apt. Buildings
6.0%
6.0%
Apt. Complexes
12.7%
12.7%
Mobile Homes
4.4%
4.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.1%
2.1%
1 Bedroom
7.5%
7.5%
2 Bedrooms
26.5%
26.5%
3 Bedrooms
45.6%
45.6%
4 Bedrooms
15.3%
15.3%
5 or more bedrooms
3.0%
3.0%
0.0% 100.0%
% OF HOMES