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City · 6,461 residents · St. Mary Parish, Louisiana

Franklin , Louisiana

In Franklin, a typical home is worth $104,400 and typical rent is $814 a month. Compared with all of St. Mary Parish, the typical home value is 25% lower, typical household income is 25% lower, and the share of households that own their home is 8 points lower.

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  • Typical home value

    $104,400

    25% below the parish

    52% below Louisiana

    • Franklin
    • St. Mary
    • Louisiana

  • Typical rent

    $814a month

    4% below the parish

    23% below Louisiana

    • Franklin
    • St. Mary
    • Louisiana

  • Typical household income

    $39,518a year

    25% below the parish

    35% below Louisiana

    • Franklin
    • St. Mary
    • Louisiana

  • Households that own their home

    61%

    8 points below the parish

    7 points below Louisiana

    • Franklin
    • St. Mary
    • Louisiana

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$104,139
0.8% less than 12 months ago

From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).

Franklin is in St. Mary Parish. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of St. Mary Parish. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Franklin apart

What this place has that others do not, from public data, most unusual first.

  1. The typical home in Franklin is worth $104,400, 25% less than in St. Mary Parish as a whole ($138,900).

  2. The typical household income in Franklin is $39,518, 25% less than in St. Mary Parish as a whole ($52,576).

  3. 61% of households in Franklin own their home, against 69% in St. Mary Parish.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Franklin

What homes there are in Franklin, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Franklin, 7 in 10 homes are single-family detached houses; in St. Mary Parish, 7.

Year built

The typical home in Franklin was built in 1966, 10 years before the typical one in St. Mary Parish.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,233 a month

St. Mary Parish: $1,420 a month

Without a mortgage

$413 a month

St. Mary Parish: $418 a month

Owners with a mortgage

35%

St. Mary Parish: 35%

In Franklin, 35% of owners have a mortgage, and their typical cost is $1,233 a month, against $1,420 in St. Mary Parish. Without one it drops to $413.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Much as in St. Mary Parish, the typical home value in Franklin rose 32% since 2015–2019.

Rent in Franklin moved so little since 2015–2019 that the Census cannot say whether it rose or fell.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFranklinSt. Mary ParishLouisianaUnited States
Rental vacancy Unreliable estimate8.3%7.8%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate1.3%0.9%
More than one person per room Unreliable estimate3.6%2.3%3.4%
People per household 2.682.552.492.53
Drive alone 83%85%79%69%
Carpool 9%8%9%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate2%2%3%
Work from home Unreliable estimate6%8%15%
Other means Unreliable estimateUnreliable estimate2%2%
Typical commute 10 to 19 minutes10 to 19 minutes20 to 29 minutes20 to 29 minutes

Households in Franklin are bigger: 2.68 people on average; in St. Mary Parish, 2.55.

In Franklin, 83% of workers drive alone to work; in St. Mary Parish, 85%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Franklin?

A typical home is within reach of the typical income

We start with a typical home in Franklin, worth $104,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 24% of the typical household income in Franklin, which is $39,518 a year.

The calculator's FHA and conventional loan limits are those of all of St. Mary Parish.

Your numbers

Local data
$

Starts at the typical home value in Franklin. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $3,654 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$805

at 7.18% · 30 years

Loan amount
$102,509
Total interest
$147,486
Paid off in
November 2056

Includes $1,763 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $922 a month

    Your payment · 24%

  • Tight

    $922 to $1,186 a month

  • Hard

    more than $1,186 a month

Compared with the typical household income in Franklin ($39,518 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$805
Principal & interest$694
Property tax$21
Home insurance$44
FHA mortgage insurance (MIP)$46

You need at least $3,654 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Franklin and St. Mary Parish

Franklin is in St. Mary Parish, Louisiana. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Franklin's own numbers

Typical home value
$104,400
Typical monthly rent
$814
Typical yearly household income
$39,518
Households that own their home
61%
Effective property tax rate
0.24%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of St. Mary Parish

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$997
Price change over 5 years (FHFA)
+12%
Homes in a high flood-risk zone
28%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of St. Mary Parish.

Everything about St. Mary Parish

Buying

Buying a home in Franklin

A typical home in Franklin is worth $104,400: 25% below the parish and 52% below Louisiana. With the typical household income in Franklin ($39,518 a year), a typical home costs 2.6 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Franklin 2.6 years
  • St. Mary 2.6 years
  • Louisiana 3.6 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in St. Mary Parish

According to FHFA’s house price index, home prices in St. Mary Parish rose 14% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of St. Mary Parish.

Period Parish Louisiana U.S.
Last year (2025) −4.1% +1.8% +2.9%
5 years (2020–2025) +12% +22% +47%
10 years (2015–2025) +14% +38% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Franklin next to St. Mary Parish, Louisiana and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Franklin $104,400
  • St. Mary $138,900
  • Louisiana $216,500
  • United States $332,700
Typical monthly rent
  • Franklin $814
  • St. Mary $848
  • Louisiana $1,064
  • United States $1,413
Typical yearly household income
  • Franklin $39,518
  • St. Mary $52,576
  • Louisiana $60,756
  • United States $80,734
See the full table
Franklin next to St. Mary Parish and Louisiana
Measure Franklin St. Mary Parish Louisiana U.S.
Typical home value $104,400 $138,900 $216,500 $332,700
Typical monthly rent $814 $848 $1,064 $1,413
Typical yearly household income $39,518 $52,576 $60,756 $80,734
Households that own their home 61% 69% 67% 65%
Typical yearly property tax $248 $545 $1,180 $3,119
Effective property tax rate 0.24% 0.39% 0.55% 0.94%
Renters with high rent for their income 46% 51% 55% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below St. Mary Parish. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Franklin

For a typical $104,400 home in Franklin, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Franklin's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $805a month

    Least cash to close
    Down payment
    $3,654
    Cash to close
    $6,786
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $46

  • Conventional, 5% down $786a month

    Down payment
    $5,220
    Cash to close
    $8,352
    Rate
    7.18%
    Mortgage insurance
    PMI · $50

  • Conventional, 20% down, no PMI $630a month

    Down payment
    $20,880
    Cash to close
    $24,012
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $727a month

    Down payment
    $15,660
    Cash to close
    $18,792
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Franklin and for St. Mary Parish.

Property tax

Effective rate in Franklin

0.24%of the home’s value each year

$248 a year for the typical owner in Franklin.

  • Franklin 0.24%
  • St. Mary 0.39%
  • Louisiana 0.55%

What Louisiana publishes Homestead exemption: $7,500 of assessed value (Louisiana State Legislature (Louisiana Constitution))

Exemptions and deadlines in Louisiana

Flood risk in St. Mary Parish

FEMA does not publish these numbers by city: they are for all of St. Mary Parish.

Homes in the high-risk zone
28%
5,751
Of those, with NFIP insurance
26%
Parish Louisiana U.S.
Homes in the high-risk zone 28% 15% 3.5%
Of those, with NFIP insurance 26% 73% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Franklin

Typical rent in Franklin is $814 a month: 4% below the parish. In Franklin, 46% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of St. Mary Parish, by unit size. To pay the 2-bedroom one ($997 a month) without spending more than 30% of your income, you would need to earn $19.17 an hour working full time.

HUD fair market rent for all of St. Mary Parish

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $757 $14.56 $30,280
1 bedroom $762 $14.65 $30,480
2 bedrooms $997 $19.17 $39,880
3 bedrooms $1,321 $25.40 $52,840
4 bedrooms $1,633 $31.40 $65,320

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Franklin

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Franklin is in ZIP code 70538.

For 2 bedrooms it is $990: $7 less than the fair market rent for St. Mary Parish ($997).

  • 70538 $990$1,310

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Franklin when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Franklin

HUD lists 4 buildings with rents for lower incomes in Franklin. These are the largest.

  • Franklin Street 412 7th St, Franklin 70538 60 homes, 59 low-income · For families (337) 578-3208
  • Franklin Square I & II Apts 505 Robertson St, Franklin 70538 40 low-income homes · For families (337) 828-2421
  • St. Jules Apartments 1708 W Ibert St, Franklin 70538 32 low-income homes · For older adults (337) 828-2421
  • Sparrow Gardens 771 Deforest Brown Ln, Franklin 70538 30 low-income homes · 3 bd: 2 · In service since 1996

See all 7 buildings in St. Mary Parish Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Franklin

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in St. Mary Parish; none says it serves in Spanish.

A man shakes hands with the specialist who helped him with his loan, in the kitchen of his new home.

HUD counseling is free or low-cost

Assistance programs in Franklin

No down payment, repair or rent-help program on our list is for Franklin or St. Mary Parish. The ones below are statewide in Louisiana: they work in Franklin the same as in the rest of the state.

Which programs do I qualify for? All programs in Louisiana

  • HomeStart Assist

    Statewide in Louisiana

    Louisiana state corporation 30-year mortgage for first-time buyers with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months. Offered by Louisiana Housing Corporation (LHC).

    Forgivable

    See the program Official page

  • HomeStart Advantage

    Statewide in Louisiana

    Louisiana state corporation 30-year mortgage with 4% of the loan in assistance, as a 0% second mortgage forgiven after 60 months; you do not need to be a first-time buyer, but you cannot own another home at closing. Offered by Louisiana Housing Corporation (LHC).

    Forgivable

    See the program Official page

Housing counselors near Franklin

The HUD-approved agencies closest to the center of Franklin, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Saint Mary Community Action Agency, Inc.

    1407 Barrow St, Franklin · 1 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 4 more
    (337) 828-5703

  • Assist Agency - Vermilion Parish

    304C N Hospital Dr, Abbeville · 38 miles away · Spanish

    • Budget and financial counseling
    • Home improvement and repairs
    • and 2 more
    (337) 898-9554

  • Lafayette Consolidated Government Neighborhood Counseling Services

    111 Shirley Picard Dr, Lafayette · 43 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 9 more
    (337) 291-5450

Every agency in St. Mary Parish All counseling agencies in Louisiana

Help in Spanish near Franklin

1 of the 3 agencies on this list says it serves in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Franklin

HUD’s record names them for Franklin or St. Mary Parish. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

3 other authorities have an office in St. Mary Parish: see the list Source: HUD

Cities

Other cities in St. Mary Parish

These cities are also in St. Mary Parish. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about St. Mary Parish Housing in Louisiana

Nearby cities

The cities closest to Franklin, with the typical home value.

Neighboring counties

If St. Mary Parish is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Franklin.

All guides
A couple spread mulch under the avocado trees of their family orchard, he on the tractor and she with a shovel.

Questions

Housing questions about Franklin

Short answers with the numbers for Franklin and all of St. Mary Parish. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Franklin?

The typical home value in Franklin is $104,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in St. Mary Parish it is $138,900.

How much does it cost to rent in Franklin?

Typical rent in Franklin is $814 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in St. Mary Parish is $997.

What is the FHA loan limit in Franklin?

Franklin uses the FHA limit for all of St. Mary Parish (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Franklin?

The typical homeowner in Franklin pays $248 a year, according to the U.S. Census Bureau. That is 0.24% of the home’s value; in St. Mary Parish, the rate is 0.39%.

Where can I find free help to buy or rent in Franklin?

There is 1 HUD-approved counseling agency with an office in St. Mary Parish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).