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New Franklin

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

Median Home$219,573
Median Rent$1,111/month
Population13,839
Leading IndustriesArts, Food & Hospitality · Information & Media7% arts, food & hospitality
Home Value Growth⬆⬆+13.1% over 2 years
Retirees22% of residentsnear the national average
Homeowners88% of occupied units
NotableHigh Incomes$90k/year · top 25% nationally
New Franklin
OH

Frequently Asked Questions

What are today's mortgage rates in New Franklin?

As of today, the 30-year fixed mortgage rate for New Franklin is approximately 6.996% (7.036% 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 New Franklin?

The median home value in New Franklin is $220k. The median monthly rent is $1,111. Annual property taxes average $3k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Franklin?

Home values in New Franklin have increased 13.1% 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 New Franklin?

Based on a typical all-in ownership cost of $1,055/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $45k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Franklin is $90k/year.

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What industries drive the economy in New Franklin?

The largest employment sectors in New Franklin are public administration (23%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.