Franklin, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Franklin Neighborhoods Since 2000




Franklin, NJ 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 4,855 people, 1,977 houses or apartments, and a median cost of homes of $228,074, Franklin real estate values are some of the lowest in New Jersey, although compared to real estate around the nation, Franklin homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Franklin, accounting for 54.86% of the borough's housing units. Other types of housing that are prevalent in Franklin include duplexes, homes converted to apartments or other small apartment buildings ( 13.92%), large apartment complexes or high rise apartments ( 12.44%), and a few mobile homes or trailers ( 10.78%).

Dwellings in Franklin tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.20% of the homes in Franklin have two or fewer bedrooms.

The housing in Franklin was primarily built before 1939 ( 31.73%), making the housing stock in Franklin some of the oldest overall in America, although there is a range of ages of homes in Franklin. The next most important housing age is between 1970-1999 ( 28.86%), followed by between 1940-1969 ( 23.68%). There's also some housing in Franklin built between 2000 and later ( 15.73%).

Franklin Home Appreciation Rates

Homes have actually lost value in Franklin over the last then years, as home values have seen a decline of 31.85% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Franklin home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

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 1.63%, 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 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New Jersey, our data show that Franklin's latest annual appreciation rate is lower than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$228,074

Franklin, NJ HOME PRICES

Value Range
> $1,017,000 0.6
$763,001 - $1,017,000 0.5
$509,001 - $763,000 0.9
$407,001 - $509,000 1.7
$305,001 - $407,000 8.1
$203,001 - $305,000 41.7
$102,001 - $203,000 36.5
$51,001 - $102,000 5.5
$0 - $51,000 4.4

Very Low for NJ
High for Nation

Value Relative to Nation Value Relative to State
26.1572717684285 80.4878048780488

Number Of Homes And Apartments:
1,977

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
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
22.03% 1.16% 1 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,433 / per month

Homeownership Rate

Homeownership
Owners 67.51
Renters 32.49
Vacant 8.56

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 15.7
1970 - 1999 28.9
1940 - 1969 23.7
1939 or Older 31.7

Types of Homes

TYPE OF Franklin HOMES
Single-Family 54.9
Townhomes 8.0
Small Apt. Buildings 13.9
Apt. Complexes 12.4
Mobile Homes 10.8
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 0.56
1 Bedroom 18.13
2 Bedrooms 32.52
3 Bedrooms 38.21
4 Bedrooms 9.57
5 or more bedrooms 1.02