Franklin, IL—62638
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Franklin, IL
As of Oct '25, the median home price in Franklin, IL is $141,000, with a year-over-year change of 3.0%. This indicates that home prices in Franklin, IL are increasing. According to Zillow, the 1-year price projection is -0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $141,000 | 3.0% |
| Single Family | $141,000 | 2.2% |
| 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, IL
Franklin, IL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Franklin, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Franklin, IL is 67. This is a increase of 25.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $29,900 | -88.0% |
Listing Count | 1 | -33.0% |
| Listings as % of Homes | 0.2% | -33.0% |
Days on Market | 67 | 25.0% |
Demographics — Franklin, IL
As of the latest ACS Survey released in 2023, Franklin, IL has a population of 1,330, which has decreased by -2.8% over the past 5 years. Franklin, IL is a moderately popular place for families, as children make up 22.9% of the population. The area has a poorly educated workforce, with 14.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,330 | -2.8% |
% Under 18 | 22.9% | -4.6% |
% Seniors | 21.6% | 66.2% |
% WFH | 8.5% | 117.9% |
% w/ College Degree | 14.9% | -33.5% |
As of the latest ACS Survey released in 2023, Franklin, IL is a predominantly white area, with 98.9% of the population identifying as white. The white population has shrunk by 0.9% in the last 5 years. The second most common race or ethnicity in Franklin, IL is hispanic, making up 0.8% of the population. Foreign-born residents account for 0.7% of the population in Franklin, IL, and this percentage has increased by 250.0% 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 | 98.9% | -0.9% |
% Black | 0.0% | N/A |
% Hispanic | 0.8% | ∞% |
% Asian | 0.4% | 100.0% |
% Foreign Born | 0.7% | 250.0% |
Mortgage and Risk — Franklin, IL
Franklin, IL lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Franklin, IL
Franklin, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.9% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $780 |
| 2 Bedroom | N/A | N/A | $1,020 |
| 3 Bedroom | N/A | N/A | $1,250 |
| 4 Bedroom | N/A | N/A | $1,650 |
Affordability — Franklin, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.5 |
| Median Home Price | $141,000 |
| Median Household Income | $80,400 |