Franklin, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Franklin Neighborhoods Since 2000




Franklin, PA 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 6,302 people, 2,806 houses or apartments, and a median cost of homes of $72,718, house prices in Franklin are some of the most affordable in Pennsylvania as well as the nation.

Single-family detached homes are the single most common housing type in Franklin, accounting for 61.86% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 19.91%), duplexes, homes converted to apartments or other small apartment buildings ( 13.56%), and a few row houses and other attached homes ( 2.42%).

People in Franklin primarily live in small (one, two or no bedroom) single-family detached homes. Franklin has a mixture of owner-occupied and renter-occupied housing.

The housing in Franklin was primarily built before 1939 ( 59.22%), 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 1940-1969 ( 22.43%), followed by between 1970-1999 ( 15.34%). There's also some housing in Franklin built between 2000 and later ( 3.01%).

Vacant housing appears to be an issue in Franklin. Fully 13.90% of the housing stock is classified as vacant. Left unchecked, vacant Franklin homes and apartments can be a drag on the real estate market, holding Franklin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

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 -0.66% 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 -2.84%, 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 -1.59%, which equates to an annual appreciation rate of -6.20%.

Notably, Franklin's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Pennsylvania, our data show that Franklin's latest annual appreciation rate is lower than 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$72,718

Franklin, PA HOME PRICES

Value Range
> $995,000 1.0
$746,001 - $995,000 0.0
$497,001 - $746,000 0.0
$398,001 - $497,000 0.0
$298,001 - $398,000 1.1
$199,001 - $298,000 2.7
$100,001 - $199,000 18.9
$50,001 - $100,000 40.4
$0 - $50,000 35.8

Very Low for PA
Very Low for Nation

Value Relative to Nation Value Relative to State
94.1228172975507 92.7536231884058

Number Of Homes And Apartments:
2,806

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
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
6.49% 0.37% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$813 / per month

Homeownership Rate

Homeownership
Owners 51.87
Renters 48.13
Vacant 13.90

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 3.0
1970 - 1999 15.3
1940 - 1969 22.4
1939 or Older 59.2

Types of Homes

TYPE OF Franklin HOMES
Single-Family 61.9
Townhomes 2.4
Small Apt. Buildings 13.6
Apt. Complexes 19.9
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 1.04
1 Bedroom 14.70
2 Bedrooms 34.46
3 Bedrooms 36.54
4 Bedrooms 10.77
5 or more bedrooms 2.49