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These days, finding an affordable place to live in the New Franklin area can be challenging. Home prices in New Franklin are now at a median cost of $232,720, lower than the Ohio average of $236,816.
The average cost of rent is $1,167/mo in New Franklin, primarily driven by the current value of real estate in the New Franklin area. In New Franklin, 11.90% of households rent, and 43.67% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Franklin is $7,775 per month. Households that rent pay about 15.01% of their income on rent here. New Franklin’s most expensive areas are in the northeastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Clinton, OH: equally priced homes
- Portage Lakes, OH: less expensive homes
- Barberton, OH: less expensive homes
- Canal Fulton, OH: equally priced homes
- Green, OH: higher priced homes
- Warwick, OH: higher priced homes
- Doylestown, OH: equally priced homes
- Norton, OH: less expensive homes
- Akron, OH: equally priced homes
- Lakemore, OH: less expensive homes
Cities with Similar Populations
- Storrs, CT: higher priced homes
- East Milton, FL: equally priced homes
- East Syracuse, NY: less expensive homes
- Eaton, OH: less expensive homes
- Eatontown, NJ: higher priced homes
- Edgewood, WA: higher priced homes
- Espanola, NM: equally priced homes
- Spring Lake, MI: higher priced homes
- Springdale, NJ: higher priced homes
- St. Ann, MO: less expensive homes
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