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Affordable
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These days, finding an affordable place to live in the Franklin area can be challenging. Home prices in Franklin are now at a median cost of $147,802, lower than the Illinois average of $300,242.
The average cost of rent is $1,036/mo in Franklin, primarily driven by the current value of real estate in the Franklin area. In Franklin, 18.05% of households rent, and 47.03% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Franklin is $7,120 per month. Households that rent pay about 14.55% of their income on rent here. Franklin’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Rees, IL: equally priced homes
- Waverly, IL: less expensive homes
- Pisgah, IL: higher priced homes
- Orleans, IL: equally priced homes
- Woodson, IL: higher priced homes
- Nortonville, IL: equally priced homes
- Alexander, IL: equally priced homes
- Murrayville, IL: less expensive homes
- Modesto, IL: equally priced homes
- Arnold, IL: equally priced homes
Cities with Similar Populations
- Ludlow Center, MA: higher priced homes
- Shellman, GA: less expensive homes
- Shannon, IL: higher priced homes
- Selma, MO: higher priced homes
- Sardis, TN: less expensive homes
- Sanford, CO: higher priced homes
- Muldraugh, KY: less expensive homes
- Middletown Springs, VT: higher priced homes
- Merrill, IA: higher priced homes
- Meadow Bridge, WV: less expensive homes
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