Franklin Town, Massachusetts Housing Market Prices
Franklin Town 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 9% below the Massachusetts median$449,987
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Median rent 8% above the Massachusetts median$1,899
Housing Market Overview
| Metric | Franklin Town | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,987 | $494,523 | $248,835 |
| Price Trend (Annual %) | 1.6% | 6.6% | 7.5% |
| Median Gross Rent | $1,899 | $1,761 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin Town is about 9% lower than in Massachusetts. Rent is about 8% higher than the Massachusetts average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Franklin Town, up about 1.6% and 6.8% a year respectively. Rent is changing faster.
Median rent in Franklin Town rose about 69.0% between 2015 and 2024, from $1,123 to $1,899. Over the same span, rent in Massachusetts rose about 59.8%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Franklin Town.
Buying the median-priced home in Franklin Town costs roughly 19.8 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Franklin Town. The price-to-rent ratio in Massachusetts is about 23.4.
| Metric | Franklin Town | Massachusetts Avg | US Average |
|---|---|---|---|
| Median Home Price | $449,987 | $494,523 | $248,835 |
| Median Household Income | $143,537 | $104,336 | $80,455 |
| Price-to-Income Ratio | 3.1 | 4.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Franklin Town rose about 5.9%, while median household income rose about 49.8% 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 Town | Massachusetts Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 74.3% | 57.5% | 58.5% |
| Rental Rate | 20.7% | 34.4% | 31.2% |
| Vacancy Rate | 4.9% | 8.1% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Franklin Town has a homeownership rate of 74.3%, higher than the Massachusetts average of 57.5%. Its housing vacancy rate is 4.9%, compared with 8.1% in Massachusetts.
Housing Stock
| Metric | Franklin Town | Massachusetts Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1981 | 1963 | 1978 |
| Median Number of Rooms | 6.4 | 5.5 | 5.5 |
The typical housing unit in Franklin Town was built around 1981. On average, 2.6 people live in a home with about 6.4 rooms, staying for about 15.0 years on average.
Franklin Town, MA Housing Compared With Nearby Cities
How Franklin Town, MA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin Town, MA | 33,154 | $449,987 #1/2 | $1,899 #1/2 | 78.2% #1/2 |
| Woonsocket, RI | 43,521 | $320,803 | $1,161 | 37.2% |
Frequently Asked Questions
Common questions about the housing market in Franklin Town, Massachusetts.
What is the median home price in Franklin Town, Massachusetts?
The median home price in Franklin Town, Massachusetts is $449,987, lower than the Massachusetts average of $494,523.
What is the average home price in Franklin Town, Massachusetts?
The typical home price in Franklin Town, Massachusetts, reported as the median sale price, is $449,987. 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 Town, Massachusetts?
The median gross rent in Franklin Town, Massachusetts is $1,899 per month, higher than the Massachusetts average of $1,761.
What was the median gross rent in Franklin Town in 2020?
In 2020, the median gross rent in Franklin Town, Massachusetts was $1,467 per month.
What is the price-to-rent ratio in Franklin Town, Massachusetts?
The price-to-rent ratio in Franklin Town, Massachusetts is about 19.8, meaning it would take roughly 19.8 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Franklin Town.
Are home prices or rent rising faster in Franklin Town, Massachusetts?
Both home prices and rent are rising in Franklin Town, up about 1.6% and 6.8% a year respectively. Rent is changing faster.
What is the homeownership rate in Franklin Town, Massachusetts?
74.3% of households in Franklin Town, Massachusetts own their home, higher than the Massachusetts average of 57.5%.
What is the vacancy rate in Franklin Town, Massachusetts?
The housing vacancy rate in Franklin Town, Massachusetts is 4.9%, lower than the Massachusetts average of 8.1%.
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