Franklin County, Illinois 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 68% below the Illinois median Cheaper than 79% of counties in Illinois$48,166
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Median rent 37% below the Illinois median$803
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,166 | $149,936 | $248,835 |
| Price Trend (Annual %) | -1.7% | 2.5% | 7.5% |
| Median Gross Rent | $803 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin County is about 68% lower than in Illinois. Rent is about 37% lower than the Illinois 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 1.7% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
Median rent in Franklin County rose about 36.2% between 2015 and 2024, from $590 to $803. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.8 yearly household incomes in Franklin County.
Buying the median-priced home in Franklin County costs roughly 5.0 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 Illinois is about 9.8.
| Metric | Franklin County | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $48,166 | $149,936 | $248,835 |
| Median Household Income | $57,264 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.8 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin County fell about 39.9%, while median household income rose about 54.0% 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 | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.8% | 61.9% | 58.5% |
| Rental Rate | 22.6% | 30.4% | 31.2% |
| Vacancy Rate | 12.6% | 7.7% | 10.2% |
| Median Tenure (years) | 17.0 | 16.0 | 15.0 |
| Median Year Moved In | 2009 | 2010 | 2011 |
Franklin County has a homeownership rate of 64.8%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 12.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Franklin County | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1967 | 1969 | 1978 |
| Median Number of Rooms | 5.5 | 5.6 | 5.5 |
The typical housing unit in Franklin County was built around 1967. On average, 2.3 people live in a home with about 5.5 rooms, staying for about 17.0 years on average.
Franklin County, IL Housing Compared With Nearby Counties
Franklin County, IL is typical in size for this group, 37,318 residents against a local median of 36,549, so the measures below are close to a like for like comparison. The measure that sets Franklin County, IL apart most is median home price: $48,166, 49% below the local median of $94,999.
The counties themselves spread $167,782 on median home price, so Franklin County, IL sits at one end of an already wide local range rather than apart from it. Franklin County, IL has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin County, IL | 37,318 | $48,166 #4/4 | $803 #3/4 | 74.1% #1/4 |
| Williamson County, IL | 66,874 | $94,999 | $930 | 70.7% |
| Jefferson County, IL | 36,549 | $225,000 | $884 | 71.7% |
| Saline County, IL | 23,213 | $57,217 | $725 | 72.5% |
Frequently Asked Questions
Common questions about the housing market in Franklin County, Illinois.
What is the median home price in Franklin County, Illinois?
The median home price in Franklin County, Illinois is $48,166, lower than the Illinois average of $149,936.
What is the average home price in Franklin County, Illinois?
The typical home price in Franklin County, Illinois, reported as the median sale price, is $48,166. 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, Illinois?
The median gross rent in Franklin County, Illinois is $803 per month, lower than the Illinois average of $1,274.
What was the median gross rent in Franklin County in 2020?
In 2020, the median gross rent in Franklin County, Illinois was $644 per month.
What is the price-to-rent ratio in Franklin County, Illinois?
The price-to-rent ratio in Franklin County, Illinois is about 5.0, meaning it would take roughly 5.0 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, Illinois?
Home prices and rent are moving in opposite directions in Franklin County: home prices fell about 1.7% a year while rent rose about 3.7% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Franklin County, Illinois?
64.8% of households in Franklin County, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Franklin County, Illinois?
The housing vacancy rate in Franklin County, Illinois is 12.6%, higher than the Illinois average of 7.7%.
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