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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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.
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Franklin HOMES|
|2000 or Newer||3.0|
|1970 - 1999||15.3|
|1940 - 1969||22.4|
|1939 or Older||59.2|
|TYPE OF Franklin HOMES|
|Small Apt. Buildings||13.6|
|SIZE OF Franklin HOMES|
|5 or more bedrooms||2.49|