Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 962, 436 total housing units (homes and apartments), and a median house value of $210,218, house prices in Franklin are solidly below the national average.
Single-family detached homes are the single most common housing type in Franklin, accounting for 40.33% of the city's housing units. Other types of housing that are prevalent in Franklin include duplexes, homes converted to apartments or other small apartment buildings ( 30.86%), large apartment complexes or high rise apartments ( 20.45%), and a few mobile homes or trailers ( 8.36%).
Franklin is dominated by renter-occupied one, two, or no bedrooms apartments. 72.52% of Franklin's dwellings are rentals.
There is a lot of housing in Franklin built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Franklin built between 1940-1969 ( 31.97%). A lesser amount of the housing stock also hails from before 1939 ( 19.15%). There's also some housing in Franklin built between 2000 and later ( 2.42%).
Vacant housing appears to be an issue in Franklin. Fully 18.96% of the housing stock is classified as vacant. Left unchecked, vacant Franklin homes and apartments can be a drag on the real estate market, holding Franklin real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Franklin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 112.78%, which ranks in the top 30% nationwide. This equates to an annual average Franklin house appreciation rate of 7.84%.
Over the last year, Franklin appreciation rates have trailed the rest of the nation. In the last twelve months, Franklin's appreciation rate has been 3.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Franklin were at 2.20%, which equates to an annual appreciation rate of 9.09%.
Relative to Georgia, our data show that Franklin's latest annual appreciation rate is lower than 80% of the other cities and towns in Georgia.
$210,218
for Georgia
for nation
436
$1,472 / per month