North Franklin renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in North Franklin is about $717 per month. This puts it in the 1st percentile compared to the state average cost of rent, which is $1,523. Households in North Franklin have a median income of $6,672 per month so the average renter in North Franklin is spending roughly 11% of their earnings on housing.
Nationally, and in North Franklin, home values are the data point most closely correlated with the cost of rent. The median price of a home in North Franklin is $248,290 right now, which is higher than nearby cities, meaning that rents in North Franklin also tend to be higher versus these nearby cities.
Higher rent prices are common in the northeastern parts of North Franklin while lower rent rates are often available in central areas.
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