Franklin, TN—37067
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, TN
As of Oct '25, the median home price in Franklin, TN is $937,000, with a year-over-year change of 2.5%. This indicates that home prices in Franklin, TN are increasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $937,000 | 2.5% |
| Single Family | $961,000 | 2.8% |
| Condos | $497,000 | -1.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $450,000 | -1.3% |
3 Bed | $677,000 | 1.8% |
4 Bed | $1,014,000 | 2.8% |
| 5 Bed | $1,285,000 | 3.0% |
% of Housing Stock
Rental Trends — Franklin, TN
As of July '25, Rentcast reports the average rent in Franklin, TN is $3,220, with a year-over-year rent change of -10.3%. Per bedroom, the median rent as of July '25 in Franklin, TN is studios: $1,500, 1-bedrooms: $1,640, 2-bedrooms: $2,210, 3-bedrooms: $3,240, 4-bedrooms: $4,450. The most common rental property sizes in Franklin, TN are 2-bedroom and 1-bedroom, accounting for 44.8% and 36.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,220 |
| Studio Rent | $1,490 | $1,500 |
| 1 Bed Rent | $1,600 | $1,640 |
| 2 Bed Rent | $2,400 | $2,210 |
| 3 Bed Rent | $3,000 | $3,240 |
| 4 Bed Rent | $4,160 | $4,450 |
% of Rental Stock
Property Listings — Franklin, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, TN is 64. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,080,000 | 8.0% |
Listing Count | 169 | 62.0% |
| Listings as % of Homes | 0.5% | 62.0% |
Days on Market | 64 | 18.0% |
Demographics — Franklin, TN
As of the latest ACS Survey released in 2023, Franklin, TN has a population of 31,600, which has increased by 6.6% over the past 5 years. Franklin, TN is a moderately popular place for families, as children make up 22.7% of the population. The area has a highly educated workforce, with 66.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 25.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,600 | 6.6% |
% Under 18 | 22.7% | -4.6% |
% Seniors | 14.9% | 26.3% |
% WFH | 25.8% | 158.0% |
% w/ College Degree | 66.7% | 2.1% |
As of the latest ACS Survey released in 2023, Franklin, TN is a predominantly white area, with 71.5% of the population identifying as white. The white population has shrunk by 9.4% in the last 5 years. The second most common race or ethnicity in Franklin, TN is asian, making up 15.2% of the population. Foreign-born residents account for 15.4% of the population in Franklin, TN, and this percentage has increased by 11.6% 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 | 71.5% | -9.4% |
% Black | 3.6% | 9.1% |
% Hispanic | 5.2% | 36.8% |
% Asian | 15.2% | 34.5% |
% Foreign Born | 15.4% | 11.6% |
Mortgage and Risk — Franklin, TN
According to HUD data as of 2023, there were 335 mortgage originations in Franklin, TN, of which 96.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 9.0% above 90% LTV (normal). This implies small mortgage risk in Franklin, TN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 335 |
% Conventional Loans | 96.0% |
% Government Loans | 4.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Franklin, TN
As of 2024, the percent of homes in Franklin, TN under the Section 8 program is 0.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Franklin, TN, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 3 |
Total Units Section 8 | 3 |
% Rentals under Section 8 | 0.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $600 | $1,600 | $2,200 |
| 2 Bedroom | $40 | $2,400 | $2,440 |
| 3 Bedroom | $80 | $3,000 | $3,080 |
| 4 Bedroom | -$370 | $4,160 | $3,790 |
Affordability — Franklin, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.9 |
| Median Home Price | $937,000 |
| Median Household Income | $110,000 |