Home Price Key
Affordable
Average
Expensive
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 $502,775, higher than the Michigan average of $196,062.
The average cost of rent is $2,781/mo in Franklin, primarily driven by the current value of real estate in the Franklin area. While nearly 37.76% of residents own their homes outright in Franklin, 7.59% rent.
Housing affordability isn’t just about home prices, though. The average household income in Franklin is $11,500 per month. Households that rent pay about 24.19% of their income on rent here. Franklin's most expensive areas are in the northern regions, while the cheapest areas are in the western parts of the city.
Nearby Cities
- Bingham Farms, MI: less expensive homes
- Beverly Hills, MI: less expensive homes
- Southfield, MI: less expensive homes
- Lathrup Village, MI: less expensive homes
- Bloomfield Hills, MI: higher priced homes
- Birmingham, MI: higher priced homes
- Farmington Hills, MI: less expensive homes
- West Bloomfield, MI: less expensive homes
- Farmington, MI: less expensive homes
- Berkley, MI: less expensive homes
Cities with Similar Populations
- Caryville, TN: less expensive homes
- Lake, MI: less expensive homes
- Hamilton, TX: less expensive homes
- Gravois Mills, MO: less expensive homes
- Denver, IA: less expensive homes
- Cuthbert, GA: less expensive homes
- Corfu, NY: less expensive homes
- Clinton, PA: less expensive homes
- Cheney, KS: less expensive homes
- Carroll Valley, PA: less expensive homes
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