Franklin, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Franklin Neighborhoods Since 2000




Franklin, TN 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 72,639 people, 26,228 houses or apartments, and a median cost of homes of $405,484, Franklin house prices are not only among the most expensive in Tennessee, Franklin real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Franklin, accounting for 62.66% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 22.80%), row houses and other attached homes ( 8.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.86%).

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 67.02% of Franklin's homes, and 61.14% 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 2000 and later ( 32.95%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.40%). There's also some housing in Franklin built before 1939 ( 1.77%).

Franklin Home Appreciation Rates

In the last 10 years, Franklin has experienced some of the highest home appreciation rates of any community in the nation. Franklin real estate appreciated 26.69% over the last ten years, which is an average annual home appreciation rate of 2.39%, putting Franklin in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Franklin definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Franklin that despite a nationwide downturn in the housing market, Franklin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Franklin appreciation rates continue to be some of the highest in America, at 8.81%, which is higher than appreciation rates in 90.11% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Franklin. Franklin appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.

Importantly, this makes Franklin one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

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:
$405,484

Franklin, TN HOME PRICES

Value Range
> $1,284,000 1.5
$963,001 - $1,284,000 2.6
$642,001 - $963,000 10.1
$513,001 - $642,000 13.0
$385,001 - $513,000 26.5
$257,001 - $385,000 27.8
$128,001 - $257,000 14.9
$64,001 - $128,000 1.4
$0 - $64,000 2.2

Very High for TN
Very High for Nation

Value Relative to Nation Value Relative to State
9.24645493964608 1.53061224489796

Number Of Homes And Apartments:
26,228

Franklin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
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
80.94% 3.50% 10 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,753 / per month

Homeownership Rate

Homeownership
Owners 67.02
Renters 32.98
Vacant 4.18

Housing Market Details

 

Age of Homes

AGE OF Franklin HOMES
2000 or Newer 32.9
1970 - 1999 58.9
1940 - 1969 6.4
1939 or Older 1.8

Types of Homes

TYPE OF Franklin HOMES
Single-Family 62.7
Townhomes 8.1
Small Apt. Buildings 4.9
Apt. Complexes 22.8
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Franklin HOMES
No Bedroom 1.04
1 Bedroom 8.78
2 Bedrooms 23.47
3 Bedrooms 34.68
4 Bedrooms 26.46
5 or more bedrooms 5.57