Franklin MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Franklin, MA 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 Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 33,230, 11,288 total housing units (homes and apartments), and a median house value of $509,341, 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 68.44% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 15.46%), row houses and other attached homes ( 8.30%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.81%).

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 78.67% of Franklin's homes, and 63.69% 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 ( 19.91%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.45%). There's also some housing in Franklin built before 1939 ( 12.13%).

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 25.96%, which ranks in the top 40% nationwide. This equates to an annual average Franklin house appreciation rate of 2.33%.

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 2.81%, 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 1.12%, which equates to an annual appreciation rate of 4.56%.

Relative to Massachusetts, our data show that Franklin's latest annual appreciation rate is lower than 50% 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:
$509,341

Franklin, MA HOME PRICES

Value Range
> $1,175,000 0.4
$882,001 - $1,175,000 3.6
$588,001 - $882,000 25.2
$470,001 - $588,000 22.2
$353,001 - $470,000 24.5
$235,001 - $353,000 16.9
$117,001 - $235,000 5.2
$59,001 - $117,000 0.5
$0 - $59,000 1.6

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
7.13576642335766 29.4871794871795

Number Of Homes And Apartments:
11,288

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
67.20% 2.64%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,998 / per month

Homeownership Rate

Homeownership
Owners 78.67
Renters 21.33
Vacant 2.86

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 14.4
1970 - 1999 53.5
1940 - 1969 19.9
1939 or Older 12.1

Types of Homes

TYPE OF Franklin HOMES
Single-Family 68.4
Townhomes 8.3
Small Apt. Buildings 7.8
Apt. Complexes 15.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 1.61
1 Bedroom 7.92
2 Bedrooms 21.07
3 Bedrooms 32.98
4 Bedrooms 30.71
5 or more bedrooms 5.71