Franklin, Wisconsin Housing Market Prices
Franklin 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 13% above the Wisconsin median$192,535
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Median rent 34% above the Wisconsin median$1,457
Housing Market Overview
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $192,535 | $170,479 | $248,835 |
| Price Trend (Annual %) | 1.3% | 4.2% | 7.5% |
| Median Gross Rent | $1,457 | $1,087 | $1,407 |
| Rent Trend (Annual %) | 5.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Franklin is about 13% higher than in Wisconsin. Rent is about 34% higher than the Wisconsin 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, up about 1.3% and 5.1% a year respectively. Rent is changing faster.
Median rent in Franklin rose about 51.8% between 2015 and 2024, from $960 to $1,457. Over the same span, rent in Wisconsin rose about 40.2%.
Affordability
On average, housing unit costs 1.8 yearly household incomes in Franklin.
Buying the median-priced home in Franklin costs roughly 11.0 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. The price-to-rent ratio in Wisconsin is about 13.1.
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Home Price | $192,535 | $170,479 | $248,835 |
| Median Household Income | $105,410 | $77,698 | $80,455 |
| Price-to-Income Ratio | 1.8 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Franklin rose about 21.4%, while median household income rose about 31.4% 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 | Wisconsin Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 75.1% | 60.5% | 58.5% |
| Rental Rate | 22.1% | 28.7% | 31.2% |
| Vacancy Rate | 2.8% | 10.8% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Franklin has a homeownership rate of 75.1%, higher than the Wisconsin average of 60.5%. Its housing vacancy rate is 2.8%, compared with 10.8% in Wisconsin.
Housing Stock
| Metric | Franklin | Wisconsin Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.49 people | 2.33 people | 2.53 people |
| Median Structure Built Year | 1987 | 1974 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Franklin was built around 1987. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Franklin, Wisconsin.
What is the median home price in Franklin, Wisconsin?
The median home price in Franklin, Wisconsin is $192,535, higher than the Wisconsin average of $170,479.
What is the average home price in Franklin, Wisconsin?
The typical home price in Franklin, Wisconsin, reported as the median sale price, is $192,535. 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, Wisconsin?
The median gross rent in Franklin, Wisconsin is $1,457 per month, higher than the Wisconsin average of $1,087.
What was the median gross rent in Franklin in 2020?
In 2020, the median gross rent in Franklin, Wisconsin was $1,095 per month.
What is the price-to-rent ratio in Franklin, Wisconsin?
The price-to-rent ratio in Franklin, Wisconsin is about 11.0, meaning it would take roughly 11.0 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.
Are home prices or rent rising faster in Franklin, Wisconsin?
Both home prices and rent are rising in Franklin, up about 1.3% and 5.1% a year respectively. Rent is changing faster.
What is the homeownership rate in Franklin, Wisconsin?
75.1% of households in Franklin, Wisconsin own their home, higher than the Wisconsin average of 60.5%.
What is the vacancy rate in Franklin, Wisconsin?
The housing vacancy rate in Franklin, Wisconsin is 2.8%, lower than the Wisconsin average of 10.8%.
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