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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 $303,219, lower than the New Jersey average of $496,577.
The average cost of rent is $1,390/mo in Franklin, primarily driven by the current value of real estate in the Franklin area. In Franklin, 41.76% of households rent, and 33.41% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Franklin is $7,415 per month. Households that rent pay about 18.75% of their income on rent here. Franklin’s most expensive areas are in the southwestern regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Hamburg, NJ: higher priced homes
- Stockholm, NJ: higher priced homes
- Ogdensburg, NJ: higher priced homes
- South Ogdensburg, NJ: higher priced homes
- Sparta, NJ: higher priced homes
- Lafayette, NJ: higher priced homes
- Augusta, NJ: higher priced homes
- Upper Mohawk, NJ: higher priced homes
- Pellettown, NJ: higher priced homes
- Vernon, NJ: equally priced homes
Cities with Similar Populations
- Corinth, NY: less expensive homes
- Columbiaville, MI: less expensive homes
- Columbus, TX: less expensive homes
- Comanche, TX: less expensive homes
- Concordia, KS: less expensive homes
- Connell, WA: higher priced homes
- Telford, TN: less expensive homes
- Teague, TX: less expensive homes
- Corcoran, MN: higher priced homes
- Colona, IL: less expensive homes
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