Franklin County, Tennessee 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 41% above the Tennessee median More expensive than 89% of counties in Tennessee$361,888
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Median rent 25% below the Tennessee median$893
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $361,888 | $255,786 | $248,835 |
| Price Trend (Annual %) | 85.7% | 9.9% | 7.5% |
| Median Gross Rent | $893 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin County is about 41% higher than in Tennessee. Rent is about 25% lower than the Tennessee 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 85.7% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Franklin County rose about 49.4% between 2015 and 2024, from $598 to $893. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 5.8 yearly household incomes in Franklin County.
Buying the median-priced home in Franklin County costs roughly 33.8 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 Tennessee is about 17.9.
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $361,888 | $255,786 | $248,835 |
| Median Household Income | $62,739 | $69,901 | $80,455 |
| Price-to-Income Ratio | 5.8 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin County rose about 408.4%, while median household income rose about 40.5% 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 | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.1% | 60.1% | 58.5% |
| Rental Rate | 19.6% | 29.7% | 31.2% |
| Vacancy Rate | 13.3% | 10.2% | 10.2% |
| Median Tenure (years) | 14.0 | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2012 | 2011 |
Franklin County has a homeownership rate of 67.1%, higher than the Tennessee average of 60.1%. Its housing vacancy rate is 13.3%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Franklin County | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1983 | 1986 | 1978 |
| Median Number of Rooms | 6.0 | 5.7 | 5.5 |
The typical housing unit in Franklin County was built around 1983. On average, 2.4 people live in a home with about 6.0 rooms, staying for about 14.0 years on average.
Franklin County, TN Housing Compared With Nearby Counties
Franklin County, TN is the 3rd largest of the 4 counties compared here, 44,097 residents against a local median of 53,053. The measure that sets Franklin County, TN apart most is median home price: $361,888, 126% above the local median of $160,237.
The counties themselves spread $446,701 on median home price, so Franklin County, TN sits at one end of an already wide local range rather than apart from it. Franklin County, TN has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Franklin County, TN | 44,097 | $361,888 #2/4 | $893 #2/4 | 77.4% #2/4 |
| Coffee County, TN | 59,710 | $487,999 | $913 | 69.0% |
| Jackson County, AL | 53,053 | $41,299 | $779 | 75.1% |
| Marion County, TN | 29,249 | $160,237 | $853 | 78.5% |
Frequently Asked Questions
Common questions about the housing market in Franklin County, Tennessee.
What is the median home price in Franklin County, Tennessee?
The median home price in Franklin County, Tennessee is $361,888, higher than the Tennessee average of $255,786.
What is the average home price in Franklin County, Tennessee?
The typical home price in Franklin County, Tennessee, reported as the median sale price, is $361,888. 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, Tennessee?
The median gross rent in Franklin County, Tennessee is $893 per month, lower than the Tennessee average of $1,188.
What was the median gross rent in Franklin County in 2020?
In 2020, the median gross rent in Franklin County, Tennessee was $705 per month.
What is the price-to-rent ratio in Franklin County, Tennessee?
The price-to-rent ratio in Franklin County, Tennessee is about 33.8, meaning it would take roughly 33.8 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, Tennessee?
Both home prices and rent are rising in Franklin County, up about 85.7% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Franklin County, Tennessee?
67.1% of households in Franklin County, Tennessee own their home, higher than the Tennessee average of 60.1%.
What is the vacancy rate in Franklin County, Tennessee?
The housing vacancy rate in Franklin County, Tennessee is 13.3%, higher than the Tennessee average of 10.2%.
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