Franklin, OH—45005
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, OH
As of Oct '25, the median home price in Franklin, OH is $264,000, with a year-over-year change of 4.4%. This indicates that home prices in Franklin, OH 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 | $264,000 | 4.4% |
| Single Family | $267,000 | 4.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $162,000 | 3.2% |
3 Bed | $256,000 | 4.5% |
4 Bed | $376,000 | 4.2% |
| 5 Bed | $439,000 | 4.0% |
% of Housing Stock
Rental Trends — Franklin, OH
As of July '25, Rentcast reports the average rent in Franklin, OH is $1,350, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Franklin, OH is studios: $815, 1-bedrooms: $797, 2-bedrooms: $1,250, 3-bedrooms: $1,980, 4-bedrooms: $2,900. The most common rental property sizes in Franklin, OH are 2-bedroom and 3-bedroom, accounting for 44.5% and 25.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,350 |
| Studio Rent | $786 | $815 |
| 1 Bed Rent | $725 | $797 |
| 2 Bed Rent | $1,150 | $1,250 |
| 3 Bed Rent | $2,130 | $1,980 |
| 4 Bed Rent | $2,900 | $2,900 |
% of Rental Stock
Property Listings — Franklin, OH
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, OH is 39. This is a decrease of -10.0% 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 39.0%, 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 | 1.0% |
Listing Count | 122 | 1.0% |
| Listings as % of Homes | 0.8% | 1.0% |
Days on Market | 39 | -10.0% |
Demographics — Franklin, OH
As of the latest ACS Survey released in 2023, Franklin, OH has a population of 31,900, which has increased by 1.7% over the past 5 years. Franklin, OH is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 18.2% 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 | 31,900 | 1.7% |
% Under 18 | 20.8% | -3.7% |
% Seniors | 16.7% | -2.9% |
% WFH | 7.0% | 159.3% |
% w/ College Degree | 18.2% | 10.3% |
As of the latest ACS Survey released in 2023, Franklin, OH is a predominantly white area, with 89.6% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Franklin, OH is hispanic, making up 3.1% of the population. Foreign-born residents account for 3.1% of the population in Franklin, OH, and this percentage has increased by 63.2% 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 | 89.6% | -5.4% |
% Black | 0.8% | -20.0% |
% Hispanic | 3.1% | 93.8% |
% Asian | 2.9% | 314.3% |
% Foreign Born | 3.1% | 63.2% |
Mortgage and Risk — Franklin, OH
According to HUD data as of 2023, there were 812 mortgage originations in Franklin, OH, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Franklin, OH. Investor activity is low, as 1.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 812 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Franklin, OH
As of 2024, the percent of homes in Franklin, OH under the Section 8 program is 17.4%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Franklin, OH, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 746 |
Total Units Section 8 | 617 |
% Rentals under Section 8 | 17.4% |
% Occupied Section 8 | 91.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $225 | $725 | $950 |
| 2 Bedroom | $80 | $1,150 | $1,230 |
| 3 Bedroom | -$500 | $2,130 | $1,630 |
| 4 Bedroom | -$1,100 | $2,900 | $1,800 |
Affordability — Franklin, OH
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $264,000 |
| Median Household Income | $74,200 |