Franklin, LA—70538
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, LA
As of Oct '25, the median home price in Franklin, LA is $96,000, with a year-over-year change of -5.9%. This indicates that home prices in Franklin, LA are decreasing. According to Zillow, the 1-year price projection is -3.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $96,000 | -5.9% |
| Single Family | $96,000 | -5.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Franklin, LA
As of July '25, Rentcast reports the average rent in Franklin, LA is $1,070, with a year-over-year rent change of 8.5%. Per bedroom, the median rent as of July '25 in Franklin, LA is 1-bedrooms: $700, 2-bedrooms: $983, 3-bedrooms: $1,690. The most common rental property sizes in Franklin, LA are 2-bedroom and 3-bedroom, accounting for 44.7% and 38.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,070 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $700 | $700 |
| 2 Bed Rent | $950 | $983 |
| 3 Bed Rent | $1,690 | $1,690 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Franklin, LA
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, LA is 102. This is a increase of 36.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $139,000 | -17.0% |
Listing Count | 45 | 15.0% |
| Listings as % of Homes | 0.4% | 15.0% |
Days on Market | 102 | 36.0% |
Demographics — Franklin, LA
As of the latest ACS Survey released in 2023, Franklin, LA has a population of 12,600, which has decreased by -13.2% over the past 5 years. Franklin, LA is a moderately popular place for families, as children make up 21.3% of the population. The area has a poorly educated workforce, with 14.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 12,600 | -13.2% |
% Under 18 | 21.3% | -14.1% |
% Seniors | 22.4% | 23.8% |
% WFH | 7.0% | 180.0% |
% w/ College Degree | 14.3% | 31.2% |
As of the latest ACS Survey released in 2023, Franklin, LA is a predominantly white area, with 47.6% of the population identifying as white. The white population has grown by 5.8% in the last 5 years. The second most common race or ethnicity in Franklin, LA is black, making up 41.1% of the population. Foreign-born residents account for 1.3% of the population in Franklin, LA, and this percentage has decreased by 48.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 47.6% | 5.8% |
% Black | 41.1% | -9.1% |
% Hispanic | 5.2% | 15.6% |
% Asian | 0.5% | -79.2% |
% Foreign Born | 1.3% | -48.0% |
Mortgage and Risk — Franklin, LA
According to HUD data as of 2023, there were 79 mortgage originations in Franklin, LA, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 84.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Franklin, LA. Investor activity is low, as 15.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 79 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 15.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Franklin, LA
Franklin, LA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 227 |
Total Units Section 8 | 227 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 82.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $700 | $750 |
| 2 Bedroom | $30 | $950 | $980 |
| 3 Bedroom | -$410 | $1,690 | $1,280 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Franklin, LA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $96,000 |
| Median Household Income | $55,700 |