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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 24,598 people, 8,887 houses or apartments, and a median cost of homes of $121,392, 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 64.89% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 13.90%), row houses and other attached homes ( 10.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.92%).
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 56.91% owning and 43.09% 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 ( 20.28%). There's also some housing in Franklin built before 1939 ( 13.72%).
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 3.62%, which ranks in the top 50% nationwide. This equates to an annual average Franklin house appreciation rate of 0.36%.
Over the last year, Franklin appreciation rates have trailed the rest of the nation. In the last twelve months, Franklin's appreciation rate has been 2.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Franklin were at -0.60%, which equates to an annual appreciation rate of -2.40%.
Notably, Franklin's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Indiana, our data show that Franklin's latest annual appreciation rate is lower than 60% 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.
|$834,001 - $1,112,000||0.2|
|$556,001 - $834,000||0.3|
|$445,001 - $556,000||1.0|
|$333,001 - $445,000||2.1|
|$222,001 - $333,000||10.7|
|$111,001 - $222,000||50.8|
|$56,001 - $111,000||29.0|
|$0 - $56,000||5.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Franklin HOMES|
|2000 or Newer||26.7|
|1970 - 1999||39.3|
|1940 - 1969||20.3|
|1939 or Older||13.7|
|TYPE OF Franklin HOMES|
|Small Apt. Buildings||5.9|
|SIZE OF Franklin HOMES|
|5 or more bedrooms||1.76|