Franklin, IN—46131
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, IN
As of Oct '25, the median home price in Franklin, IN is $274,000, with a year-over-year change of 2.0%. This indicates that home prices in Franklin, IN are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $274,000 | 2.0% |
| Single Family | $274,000 | 1.9% |
| Condos | $297,000 | 10.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $151,000 | -1.9% |
2 Bed | $199,000 | 3.1% |
3 Bed | $264,000 | 1.9% |
4 Bed | $332,000 | 1.5% |
| 5 Bed | $390,000 | 1.0% |
% of Housing Stock
Rental Trends — Franklin, IN
As of July '25, Rentcast reports the average rent in Franklin, IN is $1,730, with a year-over-year rent change of 10.2%. Per bedroom, the median rent as of July '25 in Franklin, IN is 1-bedrooms: $1,140, 2-bedrooms: $1,270, 3-bedrooms: $1,770, 4-bedrooms: $2,060. The most common rental property sizes in Franklin, IN are 2-bedroom and 3-bedroom, accounting for 41.3% and 27.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,760 | $1,730 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,140 |
| 2 Bed Rent | $1,250 | $1,270 |
| 3 Bed Rent | $1,760 | $1,770 |
| 4 Bed Rent | $2,000 | $2,060 |
% of Rental Stock
Property Listings — Franklin, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, IN is 53. This is a increase of 10.0% 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 51.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $296,000 | -9.0% |
Listing Count | 114 | 17.0% |
| Listings as % of Homes | 0.5% | 17.0% |
Days on Market | 53 | 10.0% |
Demographics — Franklin, IN
As of the latest ACS Survey released in 2023, Franklin, IN has a population of 35,500, which has increased by 9.7% over the past 5 years. Franklin, IN is a moderately popular place for families, as children make up 25.0% of the population. The area has a moderately educated workforce, with 25.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,500 | 9.7% |
% Under 18 | 25.0% | 2.0% |
% Seniors | 15.5% | -6.1% |
% WFH | 10.0% | 170.3% |
% w/ College Degree | 25.3% | -1.6% |
As of the latest ACS Survey released in 2023, Franklin, IN is a predominantly white area, with 91.7% of the population identifying as white. The white population has shrunk by 3.5% in the last 5 years. The second most common race or ethnicity in Franklin, IN is hispanic, making up 2.5% of the population. Foreign-born residents account for 1.8% of the population in Franklin, IN, and this percentage has increased by 12.5% 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 | 91.7% | -3.5% |
% Black | 2.4% | 140.0% |
% Hispanic | 2.5% | 4.2% |
% Asian | 1.0% | 100.0% |
% Foreign Born | 1.8% | 12.5% |
Mortgage and Risk — Franklin, IN
According to HUD data as of 2023, there were 842 mortgage originations in Franklin, IN, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Franklin, IN. Investor activity is low, as 1.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 842 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Franklin, IN
As of 2024, the percent of homes in Franklin, IN under the Section 8 program is 8.6%. 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. In Franklin, IN, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 300 |
Total Units Section 8 | 300 |
% Rentals under Section 8 | 8.6% |
% Occupied Section 8 | 84.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$200 | $1,250 | $1,050 |
| 2 Bedroom | -$20 | $1,250 | $1,230 |
| 3 Bedroom | -$160 | $1,760 | $1,600 |
| 4 Bedroom | -$60 | $2,000 | $1,940 |
Affordability — Franklin, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $274,000 |
| Median Household Income | $81,900 |