Franklin, IN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Franklin, IN Real Estate Data


Franklin Housing Market Information

With a population of 24,598, 8,725 total housing units (homes and apartments), and a median house value of $143,093, Franklin real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Franklin, accounting for 65.52% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 12.52%), row houses and other attached homes ( 9.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.68%).

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 57.39% owning and 42.61% 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 ( 26.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.87%). There's also some housing in Franklin built before 1939 ( 14.18%).

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 6.28%, which ranks in the top 50% nationwide. This equates to an annual average Franklin house appreciation rate of 0.61%.

NeighborhoodScout's data show that during the latest twelve months, Franklin's appreciation rate, at 4.39%, has been at or slightly above the national average. In the latest quarter, Franklin's appreciation rate has been 1.66%, which annualizes to a rate of 6.79%.

Relative to Indiana, our data show that Franklin's latest annual appreciation rate is lower than 70% 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:
$143,093

Franklin, IN HOME PRICES

Value Range
> $1,148,000 0.4
$861,001 - $1,148,000 0.3
$573,001 - $861,000 0.3
$459,001 - $573,000 1.6
$344,001 - $459,000 3.0
$230,001 - $344,000 8.7
$115,001 - $230,000 49.8
$57,001 - $115,000 30.0
$0 - $57,000 5.9

High for IN
Average for Nation

Value Relative to Nation Value Relative to State
54.0902968905545 34.6153846153846

Number Of Homes And Apartments:
8,725

Rent & Ownership

 

Average Market Rent:
$977 / per month

Homeownership Rate

Homeownership
Owners 57.39
Renters 42.61
Vacant 9.50

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 26.1
1970 - 1999 39.8
1940 - 1969 19.9
1939 or Older 14.2

Types of Homes

TYPE OF Franklin HOMES
Single-Family 65.5
Townhomes 10.0
Small Apt. Buildings 6.7
Apt. Complexes 12.5
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 3.52
1 Bedroom 7.65
2 Bedrooms 25.67
3 Bedrooms 47.84
4 Bedrooms 13.19
5 or more bedrooms 2.13

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IN*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
10.30% 0.58% 2 1
* 10 is highest