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Franklin Square

Learn about the people, housing, costs and businesses in Franklin Square, New York

Median Home$683,429
Median Rent$2,219/month
Population26,336
Leading IndustriesFinance & Insurance · Information & Media · Transportation7% finance & insurance
Home Value Growth+10.2% over 2 years
Young Adults29% of residentsslightly above average
Homeowners84% of occupied units
NotableHigh Incomes$138k/year · top 12% nationally
Franklin Square
NY

Frequently Asked Questions

What are today's mortgage rates in Franklin Square?

As of today, the 30-year fixed mortgage rate for Franklin Square is approximately 6.806% (6.839% 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 Square?

The median home value in Franklin Square is $683k. The median monthly rent is $2,219. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Franklin Square?

Home values in Franklin Square have increased 10.2% 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 Square?

Based on a typical all-in ownership cost of $2,634/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $113k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Franklin Square is $138k/year.

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What industries drive the economy in Franklin Square?

The largest employment sectors in Franklin Square are public administration (24%) and healthcare (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.