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 about Scout's Real Estate Data
With a population of 36,624, 14,015 total housing units (homes and apartments), and a median house value of $355,013, Franklin real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Franklin, accounting for 60.65% of the city's housing units. Other types of housing that are prevalent in Franklin include large apartment complexes or high rise apartments ( 23.95%), row houses and other attached homes ( 9.13%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.33%).
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 73.08% of Franklin's homes, and 61.01% 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 ( 25.96%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.19%). There's also some housing in Franklin built before 1939 ( 2.60%).
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 5.49% 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 3.18%, 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 4.14%, which equates to an annual appreciation rate of 17.60%.
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 Wisconsin, our data show that Franklin's latest annual appreciation rate is lower than 60% of the other cities and towns in Wisconsin.
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.
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