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Franklin

Learn about the people, housing, costs and businesses in Franklin, Ohio

Median Home$192,076
Median Rent$1,027/month
Population21,056
Leading IndustriesRetail · Education · Information & Media20% retail
Home Value Growth⬆⬆⬆+22.3% over 2 years
Young Adults32% of residentswell above average
Homeowners67% of occupied units
NotableVeteran Community8% of residents · top 27% nationally
Franklin
OH

Frequently Asked Questions

What are today's mortgage rates in Franklin?

As of today, the 30-year fixed mortgage rate for Franklin is approximately 6.984% (7.023% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Franklin?

The median home value in Franklin is $192k. The median monthly rent is $1,027. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Franklin?

Home values in Franklin have increased 22.3% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Franklin?

Based on a typical all-in ownership cost of $1,104/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $47k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Franklin is $70k/year.

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What industries drive the economy in Franklin?

The largest employment sectors in Franklin are retail (20%) and public administration (17%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.