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New Franklin R-I

Learn about the people, housing, costs and businesses in New Franklin R-I, Missouri

Median Home$174,910
Median Rent$796/month
Population2,499
Leading IndustriesWholesale Trade · Education · Information & Media13% wholesale trade
Home Value Growth⬆⬆⬆+32.2% over 2 years
Retirees23% of residentsslightly above average
Homeowners82% of occupied units
NotableAffordable Market$175k median home · lower cost than 72% of the country
New Franklin R-I
MO

Frequently Asked Questions

What are today's mortgage rates in New Franklin R-I?

As of today, the 30-year fixed mortgage rate for New Franklin R-I is approximately 6.997% (7.037% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

View current rates for New Franklin R-I
What is the median home price in New Franklin R-I?

The median home value in New Franklin R-I is $175k. The median monthly rent is $796. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Franklin R-I?

Home values in New Franklin R-I have increased 32.2% 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 New Franklin R-I?

Based on a typical all-in ownership cost of $821/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $35k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Franklin R-I is $81k/year.

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What industries drive the economy in New Franklin R-I?

The largest employment sectors in New Franklin R-I are public administration (25%) and wholesale trade (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.