A typical Franklin home is worth roughly $181,000
Home prices around Franklin have risen about 57% over the past 5 years.
What kind of housing town is Franklin?
Read from the numbers below. The page puts what stands out first.
A two-bedroom rents for about $970
Renters already here pay a median of $767, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Washington County, IN HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
A typical home costs 2.5 years of income
Less than across Indiana (3.6 years). Try your own numbers below.
That covers a typical Franklin home, with $104K to spare.
A two-bedroom rents for about $970 a month here, $100 less than owning.
How Franklin ranks on affordability →
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Franklin’s typical property tax (0.77% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
Home prices up 57% in 5 years
The federal house price index for the ZIP codes around Franklin rose 57% over the past 5 years, faster than across Indiana (53%). Last year prices rose 4.9%. Carrying the Census median home value forward with that index puts the typical Franklin home at roughly $181,000 today.
Carrying the Census median forward with the index puts a typical home at about $181K.
How Franklin ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Franklin, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.
88% of Franklin households own their home
Half of Franklin’s homes were built before 1991.
Indiana: 71% own.
U.S. Census Bureau, American Community Survey 2020-2024.
Franklin vs. its neighbors
Franklin is the 3rd priciest of 6 neighboring towns. Tap one to see its housing page.
Compare more
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Franklin | $181K* | +4.9%† | $970 | $71,705 |
| Polk | $212K* | −4.1%† | $1,070 | $91,439 |
| Washington | $164K* | +6.1%† | $960 | $59,083 |
| Gibson | $179K* | −0.8%† | $1,080 | $100,313 |
| Finley | $234K* | −1.2%† | $1,090 | $130,735 |
| Pierce | $167K* | +0%† | $1,020 | $57,344 |
Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.
On the market in Franklin
Listed in the past 60 days. Each opens on the listing site.
Neighbors talk housing
What Franklin buyers, sellers and renters are saying.
Your answer becomes a post in Town Square.
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. 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. The calculator is an estimate, not a loan offer.