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Real Estate Prices & Overview

South Franklin median real estate price is $235,387, which is more expensive than 60.8% of the neighborhoods in Indiana and 33.3% of the neighborhoods in the U.S.

The average rental price in South Franklin is currently $1,903, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 85.0% of the neighborhoods in Indiana.

South Franklin is a suburban neighborhood (based on population density) located in Indianapolis, Indiana.

South Franklin real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the South Franklin neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In South Franklin, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in South Franklin is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Indianapolis, the South Franklin neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

This neighborhood has the distinction of having one of the lowest real estate vacancy rates of any neighborhood in America. With just 0.0% of the real estate vacant, this indicates an exceptionally strong demand for real estate in the South Franklin neighborhood, and/or an issue with creating enough supply for the demand. This could have the effect of increasing real estate prices, increasing supply to meet demand, or both.

People

For many reasons, South Franklin is rated by NeighborhoodScout as one of the top 1.9% of ideal neighborhoods for first-time home buyers in the state of Indiana. Homes here are priced below median housing values in the state, yet the neighborhood has a track record according to NeighborhoodScout's exclusive neighborhood home appreciation rates of above average real estate appreciation over the last five years compared to other IN neighborhoods, protecting your investment in your first home, while simultaneously making it less risky for your lender. Not only does this neighborhood stand out for combining price and home value stability or increases, it also is a neighborhood with a high quality resident population according exclusive data, meaning this is likely a good place to buy, live, and enjoy. While many first time home buyers focus purely on low cost and convenient location, which can risk your investment in your first home and put you in a less than desirable neighborhood, this neighborhood is a true standout for a lot of reasons, and definitely worth a look if you are a first time home buyer. In addition to being an excellent choice for first-time home buyers, this neighborhood is also a very good choice for highly educated executives.

Diversity

Did you know that the South Franklin neighborhood has more Belgian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.7% of this neighborhood's residents have Belgian ancestry and 0.8% have Armenian ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the South Franklin neighborhood in Indianapolis are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 77.2% of the neighborhoods in America. In addition, 3.5% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 70.3% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the South Franklin neighborhood, 53.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 19.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (18.5%), and 8.8% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the South Franklin neighborhood is English, spoken by 90.4% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the South Franklin neighborhood in Indianapolis, IN, residents most commonly identify their ethnicity or ancestry as German (14.5%). There are also a number of people of Irish ancestry (12.3%), and residents who report Asian roots (10.7%), and some of the residents are also of English ancestry (8.3%), along with some Scottish ancestry residents (4.7%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in South Franklin neighborhood spend between 15 and 30 minutes commuting one-way to work (33.8% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (89.0%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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Schools include:
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