Franklin County, Florida Housing Market Prices
Franklin County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 67% below the Florida median Cheaper than 85% of counties in Florida$102,419
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Median rent 37% below the Florida median$1,049
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,419 | $311,338 | $248,835 |
| Price Trend (Annual %) | -8.0% | 11.2% | 7.5% |
| Median Gross Rent | $1,049 | $1,668 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin County is about 67% lower than in Florida. Rent is about 37% lower than the Florida average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Franklin County: home prices fell about 8.0% a year while rent rose about 5.0% a year. That is an unusual pattern worth watching.
Median rent in Franklin County rose about 47.4% between 2015 and 2024, from $711 to $1,049. Over the same span, rent in Florida rose about 66.5%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Franklin County.
Buying the median-priced home in Franklin County costs roughly 8.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Franklin County. The price-to-rent ratio in Florida is about 15.6.
| Metric | Franklin County | Florida Avg | US Average |
|---|---|---|---|
| Median Home Price | $102,419 | $311,338 | $248,835 |
| Median Household Income | $65,488 | $74,580 | $80,455 |
| Price-to-Income Ratio | 1.6 | 4.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin County fell about 21.5%, while median household income rose about 51.3% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Franklin County | Florida Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 46.8% | 57.7% | 58.5% |
| Rental Rate | 11.0% | 27.7% | 31.2% |
| Vacancy Rate | 42.2% | 14.6% | 10.2% |
| Median Tenure (years) | 17.0 | 13.0 | 15.0 |
| Median Year Moved In | 2009 | 2013 | 2011 |
Franklin County has a homeownership rate of 46.8%, lower than the Florida average of 57.7%. Its housing vacancy rate is 42.2%, compared with 14.6% in Florida.
Housing Stock
| Metric | Franklin County | Florida Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1986 | 1988 | 1978 |
| Median Number of Rooms | 4.8 | 5.2 | 5.5 |
The typical housing unit in Franklin County was built around 1986. On average, 2.2 people live in a home with about 4.8 rooms, staying for about 17.0 years on average.
Franklin County, FL Housing Compared With Nearby Counties
Franklin County, FL is the smallest of the 5 counties compared here, 12,553 residents against a local median of 25,258. Where Franklin County, FL breaks from the counties next to it is median home price, sitting 67% below the local median of $313,170 at $102,419.
The counties themselves spread $538,446 on median home price, so Franklin County, FL sits at one end of an already wide local range rather than apart from it. Franklin County, FL has the 4th highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin County, FL | 12,553 | $102,419 #4/5 | $1,049 #3/5 | 80.9% #2/5 |
| Gulf County, FL | 15,130 | $616,735 | $1,186 | 80.8% |
| Wakulla County, FL | 35,387 | $78,289 | $1,108 | 81.9% |
| Calhoun County, FL | 13,492 | $309,848 | $779 | 78.8% |
| Gadsden County, FL | 43,710 | $316,492 | $850 | 70.7% |
Frequently Asked Questions
Common questions about the housing market in Franklin County, Florida.
What is the median home price in Franklin County, Florida?
The median home price in Franklin County, Florida is $102,419, lower than the Florida average of $311,338.
What is the average home price in Franklin County, Florida?
The typical home price in Franklin County, Florida, reported as the median sale price, is $102,419. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Franklin County, Florida?
The median gross rent in Franklin County, Florida is $1,049 per month, lower than the Florida average of $1,668.
What was the median gross rent in Franklin County in 2020?
In 2020, the median gross rent in Franklin County, Florida was $806 per month.
What is the price-to-rent ratio in Franklin County, Florida?
The price-to-rent ratio in Franklin County, Florida is about 8.1, meaning it would take roughly 8.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Franklin County.
Are home prices or rent rising faster in Franklin County, Florida?
Home prices and rent are moving in opposite directions in Franklin County: home prices fell about 8.0% a year while rent rose about 5.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Franklin County, Florida?
46.8% of households in Franklin County, Florida own their home, lower than the Florida average of 57.7%.
What is the vacancy rate in Franklin County, Florida?
The housing vacancy rate in Franklin County, Florida is 42.2%, higher than the Florida average of 14.6%.
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