Franklin, TN—37069
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 $990,000, with a year-over-year change of -0.8%. This indicates that home prices in Franklin, TN are flat. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $990,000 | -0.8% |
| Single Family | $1,002,000 | -0.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $450,000 | 0.0% |
3 Bed | $680,000 | 2.3% |
4 Bed | $1,103,000 | 1.0% |
| 5 Bed | $1,941,000 | 2.0% |
% of Housing Stock
Rental Trends — Franklin, TN
As of July '25, Rentcast reports the average rent in Franklin, TN is $3,380, with a year-over-year rent change of -3.2%. Per bedroom, the median rent as of July '25 in Franklin, TN is 2-bedrooms: $2,350, 3-bedrooms: $3,030, 4-bedrooms: $4,770. The most common rental property sizes in Franklin, TN are 3-bedroom and 2-bedroom, accounting for 37.9% and 37.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,380 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,150 | $2,350 |
| 3 Bed Rent | $2,950 | $3,030 |
| 4 Bed Rent | $3,740 | $4,770 |
% 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 76. This is a increase of 9.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,600,000 | -3.0% |
Listing Count | 118 | 37.0% |
| Listings as % of Homes | 0.7% | 37.0% |
Days on Market | 76 | 9.0% |
Demographics — Franklin, TN
As of the latest ACS Survey released in 2023, Franklin, TN has a population of 20,000, which has decreased by -1.2% over the past 5 years. Franklin, TN is a popular place for families, as children make up 26.0% of the population. The area has a highly educated workforce, with 72.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,000 | -1.2% |
% Under 18 | 26.0% | -6.8% |
% Seniors | 16.9% | 16.6% |
% WFH | 24.9% | 77.9% |
% w/ College Degree | 72.2% | 0.4% |
As of the latest ACS Survey released in 2023, Franklin, TN is a predominantly white area, with 84.0% of the population identifying as white. The white population has shrunk by 9.2% in the last 5 years. The second most common race or ethnicity in Franklin, TN is hispanic, making up 5.3% of the population. Foreign-born residents account for 5.0% of the population in Franklin, TN, and this percentage has increased by 11.1% 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 | 84.0% | -9.2% |
% Black | 3.8% | 90.0% |
% Hispanic | 5.3% | 211.8% |
% Asian | 2.1% | 0.0% |
% Foreign Born | 5.0% | 11.1% |
Mortgage and Risk — Franklin, TN
According to HUD data as of 2023, there were 501 mortgage originations in Franklin, TN, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 44.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Franklin, TN. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 501 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Franklin, TN
Franklin, TN lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,470 |
| 2 Bedroom | $590 | $2,150 | $2,740 |
| 3 Bedroom | $510 | $2,950 | $3,460 |
| 4 Bedroom | $520 | $3,740 | $4,260 |
Affordability — Franklin, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $990,000 |
| Median Household Income | $146,000 |