Franklin, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Franklin Neighborhoods Since 2000




Franklin, KY Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Franklin Housing Market Information

With a population of 8,787, 3,347 total housing units (homes and apartments), and a median house value of $128,371, 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 77.62% of the city's housing units. Other types of housing that are prevalent in Franklin include duplexes, homes converted to apartments or other small apartment buildings ( 12.20%), large apartment complexes or high rise apartments ( 5.33%), and a few mobile homes or trailers ( 3.49%).

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 46.35% owning and 53.65% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Franklin's housing was primarily built during this period, from the '40s through the '60s. A full 41.94% of the city's housing hails from this era. Other housing ages represented in Franklin include homes built between 1970-1999 ( 31.22%) and housing constructed between 2000 and later ( 15.94%). There's also some housing in Franklin built before 1939 ( 10.90%).

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 5.31%, which ranks in the top 40% nationwide. This equates to an annual average Franklin house appreciation rate of 0.52%.

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 1.11%, 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 0.56%, which equates to an annual appreciation rate of 2.24%.

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

Average Home Values

 

Median Home Value:
$128,371

Franklin, KY HOME PRICES

Value Range
> $1,060,000 0.1
$795,001 - $1,060,000 0.0
$530,001 - $795,000 2.6
$424,001 - $530,000 1.8
$318,001 - $424,000 2.3
$212,001 - $318,000 12.7
$106,001 - $212,000 40.0
$53,001 - $106,000 28.2
$0 - $53,000 12.4

High for KY
Low for Nation

Value Relative to Nation Value Relative to State
60.731864525958 32.8320802005013

Number Of Homes And Apartments:
3,347

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
16.49% 0.89% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$840 / per month

Homeownership Rate

Homeownership
Owners 46.35
Renters 53.65
Vacant 9.44

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 15.9
1970 - 1999 31.2
1940 - 1969 41.9
1939 or Older 10.9

Types of Homes

TYPE OF Franklin HOMES
Single-Family 77.6
Townhomes 1.4
Small Apt. Buildings 12.2
Apt. Complexes 5.3
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 0.00
1 Bedroom 7.39
2 Bedrooms 29.41
3 Bedrooms 54.76
4 Bedrooms 7.06
5 or more bedrooms 1.38