Franklin, PA—16323
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, PA
As of Oct '25, the median home price in Franklin, PA is $131,000, with a year-over-year change of 0.7%. This indicates that home prices in Franklin, PA are flat. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $131,000 | 0.7% |
| Single Family | $131,000 | 1.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $79,000 | -3.7% |
2 Bed | $106,000 | -0.9% |
3 Bed | $137,000 | 1.5% |
4 Bed | $168,000 | 3.7% |
| 5 Bed | $195,000 | 6.6% |
% of Housing Stock
Rental Trends — Franklin, PA
As of July '25, Rentcast reports the average rent in Franklin, PA is $1,440, with a year-over-year rent change of 14.3%. Per bedroom, the median rent as of July '25 in Franklin, PA is 1-bedrooms: $1,150, 2-bedrooms: $1,370, 3-bedrooms: $1,890, 4-bedrooms: $2,170. The most common rental property sizes in Franklin, PA are 2-bedroom and 3-bedroom, accounting for 38.1% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,490 | $1,440 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,090 | $1,150 |
| 2 Bed Rent | $1,400 | $1,370 |
| 3 Bed Rent | $1,590 | $1,890 |
| 4 Bed Rent | $1,690 | $2,170 |
% of Rental Stock
Property Listings — Franklin, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, PA is 61. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $150,000 | 4.0% |
Listing Count | 59 | 22.0% |
| Listings as % of Homes | 0.6% | 22.0% |
Days on Market | 61 | -7.0% |
Demographics — Franklin, PA
As of the latest ACS Survey released in 2023, Franklin, PA has a population of 14,700, which has decreased by -5.4% over the past 5 years. Franklin, PA is a moderately popular place for families, as children make up 18.5% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,700 | -5.4% |
% Under 18 | 18.5% | 5.1% |
% Seniors | 24.4% | 3.0% |
% WFH | 10.5% | 183.8% |
% w/ College Degree | 22.6% | 35.3% |
As of the latest ACS Survey released in 2023, Franklin, PA is a predominantly white area, with 92.2% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Franklin, PA is black, making up 2.6% of the population. Foreign-born residents account for 0.8% of the population in Franklin, PA, and this percentage has increased by 33.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.2% | -3.0% |
% Black | 2.6% | 116.7% |
% Hispanic | 0.8% | -46.7% |
% Asian | 0.2% | -33.3% |
% Foreign Born | 0.8% | 33.3% |
Mortgage and Risk — Franklin, PA
According to HUD data as of 2023, there were 189 mortgage originations in Franklin, PA, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Franklin, PA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 189 |
% Conventional Loans | 82.0% |
% Government Loans | 18.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Franklin, PA
Franklin, PA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 573 |
Total Units Section 8 | 473 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 85.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$400 | $1,090 | $690 |
| 2 Bedroom | -$490 | $1,400 | $910 |
| 3 Bedroom | -$460 | $1,590 | $1,130 |
| 4 Bedroom | -$380 | $1,690 | $1,310 |
Affordability — Franklin, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $131,000 |
| Median Household Income | $62,200 |