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Franklin

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

Median Home$126,200
Median Rent$749/month
Population188
Leading IndustriesEducation · Wholesale Trade · Professional Services4% education
Home Value Growth-5.3% over 2 years
Retirees50% of residentstop 1% nationally
Homeowners81% of occupied units
NotableVeteran Community17% of residents · top 1% nationally
NotableTransit80/100 · excellent transit access
Franklin
AR

Frequently Asked Questions

What are today's mortgage rates in Franklin?

As of today, the 30-year fixed mortgage rate for Franklin is approximately 6.966% (7.005% 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 $126k. The median monthly rent is $749. Annual property taxes average $711. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Franklin?

Home values in Franklin have decreased 5.3% over the past two years. Buyers may find more negotiating room in this market. 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 $636/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $27k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Franklin is $47k/year.

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What industries drive the economy in Franklin?

The largest employment sectors in Franklin are public administration (19%) and wholesale trade (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.