Franklin, MA 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, MA Housing Market Trends

With a population of 34,087, 11,941 total housing units (homes and apartments), and a median house value of $517,733, real estate costs in Franklin are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

Single-family detached homes are the single most common housing type in Franklin, accounting for 66.58% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 14.46%), row houses and other attached homes ( 9.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.11%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Franklin. Owner-occupied housing accounts for 78.01% of Franklin's homes, and 61.28% have either three or four bedrooms, which is average sized relative to America.

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 1940-1969 ( 18.89%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.68%). There's also some housing in Franklin built before 1939 ( 12.79%).

Franklin Home Appreciation Rates

Real estate appreciation rates in Franklin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.46% during the period.

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 7.72%, 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 3.02%, which equates to an annual appreciation rate of 12.62%.

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

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:
$517,733

Franklin, MA HOME PRICES

> $1,191,000
0.4%
0.4%
$893,001 - $1,191,000
4.2%
4.2%
$595,001 - $893,000
29.3%
29.3%
$476,001 - $595,000
25.8%
25.8%
$357,001 - $476,000
22.5%
22.5%
$238,001 - $357,000
12.3%
12.3%
$119,001 - $238,000
3.8%
3.8%
$60,001 - $119,000
0.6%
0.6%
$0 - $60,000
1.2%
1.2%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for MA

Value Relative To Nation

Number Of Homes And Apartments:
11,941

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
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
82.17% 2.83%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,799 / per month

Homeownership Rate

Owners
78.0%
78.0%
Renters
22.0%
22.0%
Vacant
2.1%
2.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
16.7%
16.7%
1970 - 1999
51.6%
51.6%
1940 - 1969
18.9%
18.9%
1939 or Older
12.8%
12.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
66.6%
66.6%
Townhomes
9.8%
9.8%
Small Apt. Buildings
9.1%
9.1%
Apt. Complexes
14.5%
14.5%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.7%
1.7%
1 Bedroom
8.6%
8.6%
2 Bedrooms
21.9%
21.9%
3 Bedrooms
33.2%
33.2%
4 Bedrooms
28.1%
28.1%
5 or more bedrooms
6.5%
6.5%
0.0% 100.0%
% OF HOMES