Franklin County, Kentucky 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 1% below the Kentucky median$117,377
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Median rent About the same as the Kentucky median More expensive than 85% of counties in Kentucky$967
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,377 | $118,017 | $248,835 |
| Price Trend (Annual %) | 16.5% | 3.8% | 7.5% |
| Median Gross Rent | $967 | $967 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin County is about 1% lower than in Kentucky. Rent follows a similar pattern, running close to the Kentucky 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 16.5% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Franklin County rose about 40.8% between 2015 and 2024, from $686 to $967. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Franklin County.
Buying the median-priced home in Franklin County costs roughly 10.1 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 Kentucky is about 10.2.
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $117,377 | $118,017 | $248,835 |
| Median Household Income | $67,514 | $64,312 | $80,455 |
| Price-to-Income Ratio | 1.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin County fell about 6.2%, while median household income rose about 33.7% 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 | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.6% | 61.3% | 58.5% |
| Rental Rate | 33.4% | 28.4% | 31.2% |
| Vacancy Rate | 6.0% | 10.3% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 | 2011 |
Franklin County has a homeownership rate of 60.6%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 6.0%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Franklin County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.20 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1977 | 1981 | 1978 |
| Median Number of Rooms | 5.6 | 5.7 | 5.5 |
The typical housing unit in Franklin County was built around 1977. On average, 2.2 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Franklin County, KY Housing Compared With Nearby Counties
How Franklin County, KY compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin County, KY | 51,842 | $117,377 #3/3 | $967 #3/3 | 64.5% #3/3 |
| Scott County, KY | 59,536 | $186,911 | $1,246 | 71.7% |
| Shelby County, KY | 49,096 | $223,863 | $1,033 | 73.9% |
Frequently Asked Questions
Common questions about the housing market in Franklin County, Kentucky.
What is the median home price in Franklin County, Kentucky?
The median home price in Franklin County, Kentucky is $117,377, lower than the Kentucky average of $118,017.
What is the average home price in Franklin County, Kentucky?
The typical home price in Franklin County, Kentucky, reported as the median sale price, is $117,377. 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, Kentucky?
The median gross rent in Franklin County, Kentucky is $967 per month, about the same as the Kentucky average.
What was the median gross rent in Franklin County in 2020?
In 2020, the median gross rent in Franklin County, Kentucky was $792 per month.
What is the price-to-rent ratio in Franklin County, Kentucky?
The price-to-rent ratio in Franklin County, Kentucky is about 10.1, meaning it would take roughly 10.1 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, Kentucky?
Both home prices and rent are rising in Franklin County, up about 16.5% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Franklin County, Kentucky?
60.6% of households in Franklin County, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Franklin County, Kentucky?
The housing vacancy rate in Franklin County, Kentucky is 6.0%, lower than the Kentucky average of 10.3%.
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