Franklin, IN housing market
Home prices around Franklin have risen about 50% over the past 5 years. Builders were permitted 1,260 new homes in 2025.
Home values, sales, trends and how Franklin compares with the towns next door — updated as new data is published.
Home prices up 50% in 5 years
The federal house price index for the ZIP codes around Franklin rose 50% over the past 5 years, slower than across Indiana (53%). Last year prices rose 3.1%. Carrying the Census median home value forward with that index puts the typical Franklin home at roughly $304,000 today.
Show as a table
| Year | Change that year | Since 2000 | Indiana since 2000 |
|---|---|---|---|
| 2025 | +3.1% | +124% | +126% |
| 2024 | 0% | +117% | +117% |
| 2023 | +9.1% | +117% | +106% |
| 2022 | +18% | +99% | +90% |
| 2021 | +14% | +69% | +65% |
| 2020 | +4.5% | +49% | +48% |
| 2019 | +5.7% | +42% | +42% |
| 2018 | +7.5% | +35% | +34% |
| 2017 | +7% | +25% | +26% |
| 2016 | +5% | +17% | +20% |
| 2015 | +5.7% | +12% | +16% |
| 2014 | +3.1% | +5.6% | +13% |
| 2013 | +2% | +2.4% | +10% |
| 2012 | −1.2% | +0.4% | +9% |
| 2011 | −2.4% | +1.6% | +9.6% |
| 2010 | −5% | +4.2% | +12% |
| 2009 | −0.3% | +9.6% | +14% |
| 2008 | −1.4% | +9.9% | +17% |
| 2007 | +0.6% | +12% | +18% |
| 2006 | +0.2% | +11% | +16% |
| 2005 | +1.9% | +11% | +14% |
| 2004 | +0.3% | +8.5% | +10% |
| 2003 | +1.5% | +8.3% | +7.8% |
| 2002 | +2% | +6.7% | +6.3% |
| 2001 | +4.6% | +4.6% | +4.3% |
| 2000 | — | — | — |
How Franklin ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 46259, 46239, 46237, 46203, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost. The estimated value scales the Census (ACS 2020-2024) median home value by that change.
1,260 new homes permitted in 2025
Builders were permitted 1,260 new homes in Franklin in 2025: 959 single-family houses and 301 in buildings with two or more homes, worth about $399.6 million to build. That's 19 per 1,000 residents, faster than across Indiana (6). Over the past 10 years, Franklin has permitted 20,033 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Franklin gained 11,677 residents while 15,218 new homes were permitted: about 0.8 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across Indiana: 1.7 new residents per new home.
How Franklin ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1,171 | 703 | 468 | $325.4 million |
| 2025 | 1,260 | 959 | 301 | $399.6 million |
| 2024 | 1,823 | 1,170 | 653 | $519.8 million |
| 2023 | 2,413 | 896 | 1,517 | $687.9 million |
| 2022 | 2,110 | 1,099 | 1,011 | $428.3 million |
| 2021 | 2,189 | 1,221 | 968 | $481.7 million |
| 2020 | 2,112 | 1,108 | 1,004 | $416.7 million |
| 2019 | 2,382 | 1,153 | 1,229 | $499.3 million |
| 2018 | 2,286 | 1,090 | 1,196 | $407.5 million |
| 2017 | 1,559 | 914 | 645 | $342.7 million |
| 2016 | 1,899 | 831 | 1,068 | $347.9 million |
| 2015 | 1,716 | 743 | 973 | $540.2 million |
| 2014 | 1,126 | 572 | 554 | $167.6 million |
| 2013 | 1,233 | 562 | 671 | $171.8 million |
| 2012 | 551 | 472 | 79 | $103.7 million |
| 2011 | 1,124 | 517 | 607 | $134.8 million |
| 2010 | 1,342 | 619 | 723 | $145.6 million |
| 2009 | 1,041 | 587 | 454 | $114 million |
| 2008 | 1,788 | 734 | 1,054 | $194.5 million |
| 2007 | 1,971 | 1,317 | 654 | $304.1 million |
| 2006 | 2,693 | 1,947 | 746 | $393.9 million |
| 2005 | 4,277 | 2,760 | 1,517 | $550.8 million |
| 2004 | 4,859 | 2,737 | 2,122 | $550.7 million |
| 2003 | 4,607 | 3,375 | 1,232 | $598.4 million |
| 2002 | 5,263 | 3,532 | 1,731 | $612.8 million |
| 2001 | 5,873 | 4,765 | 1,108 | $730.6 million |
| 2000 | 4,787 | 3,534 | 1,253 | $557.8 million |
How Franklin ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Franklin and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Franklin | — | +3.1%† | $1,600 | 1,260 | $97,383 |
| Warren | — | +2.9%† | $1,400 | — | $58,962 |
| Perry | — | +2.5%† | $1,550 | — | $66,897 |
| Indianapolis | $230K | −0.8% | — | — | $66,307 |
| Moral | — | +7.8%† | $1,190 | — | $97,759 |
| Clark | — | +5.5%† | $1,690 | — | $138,234 |
| Beech Grove | $193K | −1.8% | $1,350 | 0 | $49,973 |
† FHFA price index change, where Zillow has no home value for the town.
2.8 years of income
The typical Franklin home costs about 2.8 years of the town's median household income, less than across Indiana (3.6 years).
How Franklin ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,600
HUD's Fair Market Rent for a two-bedroom in Franklin is $1,600 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Franklin pay a median of $1,288, so moving in tends to cost more than staying put. A two-bedroom takes about 20% of the town's median household income.
Studio $1,210 · 4 bedrooms $2,540
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (46203, 46237, 46239, 46259; Indianapolis-Carmel, IN HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.