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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Franklin Housing Market Information

With 33,230 people, 11,655 houses or apartments, and a median cost of homes of $498,104, 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 67.72% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 14.73%), row houses and other attached homes ( 9.26%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.28%).

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 78.64% of Franklin's homes, and 62.67% 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 ( 19.18%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.35%). There's also some housing in Franklin built before 1939 ( 12.19%).

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 31.37%, which ranks in the top 50% nationwide. This equates to an annual average Franklin house appreciation rate of 2.77%.

NeighborhoodScout's data show that during the latest twelve months, Franklin's appreciation rate, at 4.10%, has been at or slightly above the national average. In the latest quarter, Franklin's appreciation rate has been 0.97%, which annualizes to a rate of 3.96%.

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:
$498,104

Franklin, MA HOME PRICES

Value Range
> $1,172,000 0.6
$879,001 - $1,172,000 3.7
$586,001 - $879,000 28.0
$469,001 - $586,000 22.6
$351,001 - $469,000 23.7
$234,001 - $351,000 15.0
$117,001 - $234,000 4.4
$59,001 - $117,000 0.6
$0 - $59,000 1.3

High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
7.84233576642336 33.974358974359

Number Of Homes And Apartments:
11,655

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
73.11% 2.71%
5
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,455 / per month

Homeownership Rate

Homeownership
Owners 78.64
Renters 21.36
Vacant 2.29

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 16.3
1970 - 1999 52.3
1940 - 1969 19.2
1939 or Older 12.2

Types of Homes

TYPE OF Franklin HOMES
Single-Family 67.7
Townhomes 9.3
Small Apt. Buildings 8.3
Apt. Complexes 14.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 1.68
1 Bedroom 7.86
2 Bedrooms 21.69
3 Bedrooms 33.46
4 Bedrooms 29.21
5 or more bedrooms 6.11