Franklin County, Iowa 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 38% above the Iowa median More expensive than 82% of counties in Iowa$211,764
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Median rent 28% below the Iowa median Cheaper than 95% of counties in Iowa$695
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,764 | $153,425 | $248,835 |
| Price Trend (Annual %) | 19.9% | 7.5% | 7.5% |
| Median Gross Rent | $695 | $971 | $1,407 |
| Rent Trend (Annual %) | 2.2% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin County is about 38% higher than in Iowa. Rent is about 28% lower than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Franklin County, up about 19.9% and 2.2% a year respectively. Home prices are changing faster.
Median rent in Franklin County rose about 21.1% between 2015 and 2024, from $574 to $695. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 3.5 yearly household incomes in Franklin County.
Buying the median-priced home in Franklin County costs roughly 25.4 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Franklin County. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Franklin County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,764 | $153,425 | $248,835 |
| Median Household Income | $59,847 | $75,133 | $80,455 |
| Price-to-Income Ratio | 3.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin County rose about 217.3%, while median household income rose about 29.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Franklin County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.3% | 65.6% | 58.5% |
| Rental Rate | 24.9% | 25.9% | 31.2% |
| Vacancy Rate | 9.9% | 8.5% | 10.2% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Franklin County has a homeownership rate of 65.3%, about the same as the Iowa average of 65.6%. Its housing vacancy rate is 9.9%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Franklin County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.32 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1953 | 1971 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Franklin County was built around 1953. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 18.0 years on average.
Franklin County, IA Housing Compared With Nearby Counties
How Franklin County, IA compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin County, IA | 9,956 | $211,764 #1/3 | $695 #3/3 | 72.4% #2/3 |
| Cerro Gordo County, IA | 42,632 | $57,820 | $849 | 70.4% |
| Hardin County, IA | 16,639 | $75,416 | $794 | 73.6% |
Frequently Asked Questions
Common questions about the housing market in Franklin County, Iowa.
What is the median home price in Franklin County, Iowa?
The median home price in Franklin County, Iowa is $211,764, higher than the Iowa average of $153,425.
What is the average home price in Franklin County, Iowa?
The typical home price in Franklin County, Iowa, reported as the median sale price, is $211,764. 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, Iowa?
The median gross rent in Franklin County, Iowa is $695 per month, lower than the Iowa average of $971.
What was the median gross rent in Franklin County in 2020?
In 2020, the median gross rent in Franklin County, Iowa was $647 per month.
What is the price-to-rent ratio in Franklin County, Iowa?
The price-to-rent ratio in Franklin County, Iowa is about 25.4, meaning it would take roughly 25.4 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Franklin County.
Are home prices or rent rising faster in Franklin County, Iowa?
Both home prices and rent are rising in Franklin County, up about 19.9% and 2.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Franklin County, Iowa?
65.3% of households in Franklin County, Iowa own their home, lower than the Iowa average of 65.6%.
What is the vacancy rate in Franklin County, Iowa?
The housing vacancy rate in Franklin County, Iowa is 9.9%, higher than the Iowa average of 8.5%.
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