Franklin, WI—53132
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, WI
As of Oct '25, the median home price in Franklin, WI is $426,000, with a year-over-year change of 3.0%. This indicates that home prices in Franklin, WI are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $426,000 | 3.0% |
| Single Family | $460,000 | 2.9% |
| Condos | $295,000 | 1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $286,000 | 2.9% |
3 Bed | $431,000 | 2.9% |
4 Bed | $550,000 | 2.6% |
| 5 Bed | $638,000 | 1.6% |
% of Housing Stock
Rental Trends — Franklin, WI
As of July '25, Rentcast reports the average rent in Franklin, WI is $2,270, with a year-over-year rent change of 23.4%. Per bedroom, the median rent as of July '25 in Franklin, WI is 1-bedrooms: $1,410, 2-bedrooms: $1,560, 3-bedrooms: $2,940, 4-bedrooms: $3,050. The most common rental property sizes in Franklin, WI are 2-bedroom and 1-bedroom, accounting for 57.8% and 20.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,270 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,280 | $1,410 |
| 2 Bed Rent | $1,300 | $1,560 |
| 3 Bed Rent | $2,980 | $2,940 |
| 4 Bed Rent | $3,000 | $3,050 |
% of Rental Stock
Property Listings — Franklin, WI
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, WI is 37. This is a decrease of -3.0% 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 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $426,000 | -4.0% |
Listing Count | 118 | 40.0% |
| Listings as % of Homes | 0.4% | 40.0% |
Days on Market | 37 | -3.0% |
Demographics — Franklin, WI
As of the latest ACS Survey released in 2023, Franklin, WI has a population of 35,300, which has decreased by -1.9% over the past 5 years. Franklin, WI is a moderately popular place for families, as children make up 22.6% of the population. The area has a highly educated workforce, with 45.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,300 | -1.9% |
% Under 18 | 22.6% | 6.6% |
% Seniors | 18.6% | 10.1% |
% WFH | 15.6% | 160.0% |
% w/ College Degree | 45.6% | 13.4% |
As of the latest ACS Survey released in 2023, Franklin, WI is a predominantly white area, with 82.0% of the population identifying as white. The white population has grown by 1.0% in the last 5 years. The second most common race or ethnicity in Franklin, WI is hispanic, making up 6.1% of the population. Foreign-born residents account for 7.7% of the population in Franklin, WI, and this percentage has increased by 5.5% 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 | 82.0% | 1.0% |
% Black | 2.8% | -45.1% |
% Hispanic | 6.1% | 24.5% |
% Asian | 5.6% | -12.5% |
% Foreign Born | 7.7% | 5.5% |
Mortgage and Risk — Franklin, WI
According to HUD data as of 2023, there were 851 mortgage originations in Franklin, WI, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Franklin, WI. Investor activity is low, as 1.0% 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 | 851 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Franklin, WI
As of 2024, the percent of homes in Franklin, WI under the Section 8 program is 0.5%. 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. 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Franklin, WI, because HUD payments exceed market rent, while 1-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 45 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | 0.5% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,280 | $1,270 |
| 2 Bedroom | $210 | $1,300 | $1,510 |
| 3 Bedroom | -$1,110 | $2,980 | $1,870 |
| 4 Bedroom | -$960 | $3,000 | $2,040 |
Affordability — Franklin, WI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $426,000 |
| Median Household Income | $111,000 |