Franklin Parish, Louisiana Housing Market Prices
Franklin Parish 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 30% below the Louisiana median$119,066
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Median rent 32% below the Louisiana median Cheaper than 84% of counties in Louisiana$720
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,066 | $170,446 | $248,835 |
| Price Trend (Annual %) | 10.0% | 4.3% | 7.5% |
| Median Gross Rent | $720 | $1,063 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 3.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin Parish is about 30% lower than in Louisiana. Rent is about 32% lower than the Louisiana 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 Parish, up about 10.0% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Franklin Parish rose about 45.4% between 2015 and 2024, from $495 to $720. Over the same span, rent in Louisiana rose about 35.1%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Franklin Parish.
Buying the median-priced home in Franklin Parish costs roughly 13.8 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 Parish. The price-to-rent ratio in Louisiana is about 13.4.
| Metric | Franklin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,066 | $170,446 | $248,835 |
| Median Household Income | $46,861 | $60,934 | $80,455 |
| Price-to-Income Ratio | 2.5 | 2.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin Parish rose about 62.8%, while median household income rose about 33.9% 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 Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.7% | 57.7% | 58.5% |
| Rental Rate | 22.6% | 27.9% | 31.2% |
| Vacancy Rate | 15.7% | 14.4% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Franklin Parish has a homeownership rate of 61.7%, higher than the Louisiana average of 57.7%. Its housing vacancy rate is 15.7%, compared with 14.4% in Louisiana.
Housing Stock
| Metric | Franklin Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.44 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1980 | 1983 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Franklin Parish was built around 1980. On average, 2.4 people live in a home with about 5.7 rooms, staying for about 18.0 years on average.
Franklin Parish, LA Housing Compared With Nearby Counties
How Franklin Parish, LA compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin Parish, LA | 19,403 | $119,066 #3/3 | $720 #3/3 | 73.2% #2/3 |
| Caldwell Parish, LA | 9,498 | $236,826 | $829 | 68.9% |
| Catahoula Parish, LA | 8,580 | $135,173 | $821 | 78.0% |
Frequently Asked Questions
Common questions about the housing market in Franklin Parish, Louisiana.
What is the median home price in Franklin Parish, Louisiana?
The median home price in Franklin Parish, Louisiana is $119,066, lower than the Louisiana average of $170,446.
What is the average home price in Franklin Parish, Louisiana?
The typical home price in Franklin Parish, Louisiana, reported as the median sale price, is $119,066. 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 Parish, Louisiana?
The median gross rent in Franklin Parish, Louisiana is $720 per month, lower than the Louisiana average of $1,063.
What was the median gross rent in Franklin Parish in 2020?
In 2020, the median gross rent in Franklin Parish, Louisiana was $626 per month.
What is the price-to-rent ratio in Franklin Parish, Louisiana?
The price-to-rent ratio in Franklin Parish, Louisiana is about 13.8, meaning it would take roughly 13.8 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 Parish.
Are home prices or rent rising faster in Franklin Parish, Louisiana?
Both home prices and rent are rising in Franklin Parish, up about 10.0% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Franklin Parish, Louisiana?
61.7% of households in Franklin Parish, Louisiana own their home, higher than the Louisiana average of 57.7%.
What is the vacancy rate in Franklin Parish, Louisiana?
The housing vacancy rate in Franklin Parish, Louisiana is 15.7%, higher than the Louisiana average of 14.4%.
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