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City · 8,799 residents · Merrimack County, New Hampshire

Franklin , New Hampshire

In Franklin, a typical home is worth $262,200 and typical rent is $1,110 a month. Compared with all of Merrimack County, the typical home value is 29% lower, typical household income is 26% lower, and the share of households that own their home is 9 points lower.

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  • Typical home value

    $262,200

    29% below the county

    35% below New Hampshire

    • Franklin
    • Merrimack
    • New Hampshire

  • Typical rent

    $1,110a month

    18% below the county

    26% below New Hampshire

    • Franklin
    • Merrimack
    • New Hampshire

  • Typical household income

    $71,648a year

    26% below the county

    28% below New Hampshire

    • Franklin
    • Merrimack
    • New Hampshire

  • Households that own their home

    64%

    9 points below the county

    9 points below New Hampshire

    • Franklin
    • Merrimack
    • New Hampshire

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

Market now, with Zillow data

Zillow data
Typical home value
$380,028
2.8% more than 12 months ago
Typical rent
$1,888 a month

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

Franklin is in Merrimack County. 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 Merrimack County. 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 $262,200, 29% less than in Merrimack County as a whole ($367,600).

  2. The typical household income in Franklin is $71,648, 26% less than in Merrimack County as a whole ($97,004).

  3. The typical rent in Franklin is $1,110 a month, 18% less than in Merrimack County as a whole ($1,360).

  4. 64% of households in Franklin own their home, against 73% in Merrimack County.

  5. Franklin has the 3rd smallest share of rent-burdened renters of the 25 cities in New Hampshire with more than 5,000 people (39%).

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, 6 in 10 homes are single-family detached houses; in Merrimack County, 6.

Year built

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

$1,897 a month

Merrimack County: $2,324 a month

Without a mortgage

$843 a month

Merrimack County: $995 a month

Owners with a mortgage

57%

Merrimack County: 63%

In Franklin, 57% of owners have a mortgage, and their typical cost is $1,897 a month, against $2,324 in Merrimack County. Without one it drops to $843.

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

From 2015–2019 to 2020–2024, the typical home value in Franklin rose 59%; in Merrimack County, it rose 55%.

Rents in Franklin rose at about the same pace as in Merrimack County: 31% since 2015–2019, against 31%.

The typical household income in Franklin rose 36% over that time; home values changed +59% and rent +31%.

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

MeasureFranklinMerrimack CountyNew HampshireUnited States
Rental vacancy Unreliable estimate4.5%4.0%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.4%0.9%
More than one person per room Unreliable estimate1.9%1.4%3.4%
People per household 2.382.462.442.53
Drive alone 77%73%72%69%
Carpool 13%8%7%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate3%3%3%
Work from home 8%14%17%15%
Other means Unreliable estimate1%1%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Merrimack County, a household in Franklin has 2.38 people on average.

Carpooling is common in Franklin: 13% of workers get to work that way, against 8% in Merrimack County.

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 costs more than the typical income allows

We start with a typical home in Franklin, worth $262,200, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 40% of the typical household income in Franklin, which is $71,648 a year. For that payment to be 28% of income, a household would need to earn about $101,815 a year.

The calculator's FHA and conventional loan limits are those of all of Merrimack County.

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 $9,177 (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

$2,376

at 7.18% · 30 years

Loan amount
$257,451
Total interest
$370,411
Paid off in
November 2056

Includes $4,428 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,672 a month

  • Tight

    $1,672 to $2,149 a month

  • Hard

    more than $2,149 a month

    Your payment · 40%

Compared with the typical household income in Franklin ($71,648 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,376
Principal & interest$1,744
Property tax$406
Home insurance$109
FHA mortgage insurance (MIP)$116

You need at least $9,177 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 Merrimack County

Franklin is in Merrimack County, New Hampshire. 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
$262,200
Typical monthly rent
$1,110
Typical yearly household income
$71,648
Households that own their home
64%
Effective property tax rate
1.86%

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

Numbers for all of Merrimack County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,800
Price change over 5 years (FHFA)
+69%
Homes in a high flood-risk zone
2.7%

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 Merrimack County.

Everything about Merrimack County

Buying

Buying a home in Franklin

A typical home in Franklin is worth $262,200: 29% below the county and 35% below New Hampshire. With the typical household income in Franklin ($71,648 a year), a typical home costs 3.7 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 3.7 years
  • Merrimack 3.8 years
  • New Hampshire 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Merrimack County

According to FHFA’s house price index, home prices in Merrimack County rose 116% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Merrimack County.

Period County New Hampshire U.S.
Last year (2025) +4.7% +4.7% +2.9%
5 years (2020–2025) +69% +66% +47%
10 years (2015–2025) +116% +113% +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 Merrimack County, New Hampshire and the U.S.

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

Typical home value
  • Franklin $262,200
  • Merrimack $367,600
  • New Hampshire $402,500
  • United States $332,700
Typical monthly rent
  • Franklin $1,110
  • Merrimack $1,360
  • New Hampshire $1,491
  • United States $1,413
Typical yearly household income
  • Franklin $71,648
  • Merrimack $97,004
  • New Hampshire $99,031
  • United States $80,734
See the full table
Franklin next to Merrimack County and New Hampshire
Measure Franklin Merrimack County New Hampshire U.S.
Typical home value $262,200 $367,600 $402,500 $332,700
Typical monthly rent $1,110 $1,360 $1,491 $1,413
Typical yearly household income $71,648 $97,004 $99,031 $80,734
Households that own their home 64% 73% 73% 65%
Typical yearly property tax $4,886 $6,783 $6,667 $3,119
Effective property tax rate 1.86% 1.85% 1.66% 0.94%
Renters with high rent for their income 39% 45% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Merrimack County. “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 $262,200 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 $2,376a month

    Least cash to close
    Down payment
    $9,177
    Cash to close
    $17,043
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $116

  • Conventional, 5% down $2,328a month

    Down payment
    $13,110
    Cash to close
    $20,976
    Rate
    7.18%
    Mortgage insurance
    PMI · $125

  • Conventional, 20% down, no PMI $1,937a month

    Down payment
    $52,440
    Cash to close
    $60,306
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,179a month

    Down payment
    $39,330
    Cash to close
    $47,196
    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 Merrimack County.

Property tax

Effective rate in Franklin

1.86%of the home’s value each year

$4,886 a year for the typical owner in Franklin.

  • Franklin 1.86%
  • Merrimack 1.85%
  • New Hampshire 1.66%

What New Hampshire publishes Deadline to apply for exemptions and credits: April 15 (New Hampshire General Court (Revised Statutes Annotated))

Exemptions and deadlines in New Hampshire

Flood risk in Merrimack County

FEMA does not publish these numbers by city: they are for all of Merrimack County.

Homes in the high-risk zone
2.7%
1,069
Of those, with NFIP insurance
20%
County New Hampshire U.S.
Homes in the high-risk zone 2.7% 2.8% 3.5%
Of those, with NFIP insurance 20% 26% 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 $1,110 a month: 18% below the county. In Franklin, 39% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Merrimack County, by unit size. To pay the 2-bedroom one ($1,800 a month) without spending more than 30% of your income, you would need to earn $34.62 an hour working full time.

HUD fair market rent for all of Merrimack County

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 $1,253 $24.10 $50,120
1 bedroom $1,376 $26.46 $55,040
2 bedrooms $1,800 $34.62 $72,000
3 bedrooms $2,357 $45.33 $94,280
4 bedrooms $2,366 $45.50 $94,640

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 03235.

For 2 bedrooms it is $1,780: $20 less than the fair market rent for Merrimack County ($1,800).

  • 03235 $1,780$2,350

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 8 buildings with rents for lower incomes in Franklin. These are the largest.

  • New Franklin Apartments/75 25 Damy Dr, Franklin 03235 76 homes, 75 low-income · For older adults
  • Franklin Light and Power 100 Memorial St, Franklin 45 low-income homes · 1 bd: 19 · 2 bd: 26 · In service since 2017 · For families
  • Riverside 68 Lancaster St, Franklin 03235 40 low-income homes · For older adults
  • Franklin Woods 4 Daniel Webster Dr, Franklin 36 low-income homes · 1 bd: 12 · 2 bd: 24 · In service since 1995
  • Franklin Woods 11 Plains Ct, Franklin 03235 36 low-income homes · For families

See all 63 buildings in Merrimack County 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.

We found no HUD-approved agencies with an office in Merrimack County. The nearest ones are below; many serve by phone or online.

A grandmother smiles, seated at 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 Merrimack County. The ones below are statewide in New Hampshire: they work in Franklin the same as in the rest of the state.

Which programs do I qualify for? All programs in New Hampshire

  • New Hampshire Housing Cash Downpayment Assistance

    Statewide in New Hampshire

    New Hampshire state agency cash assistance of $5,000, $10,000 or $15,000 for the down payment with an NH Housing mortgage; open to any buyer who qualifies, not only first-time buyers. Offered by New Hampshire Housing.

    Type not stated

    See the program Official page

  • 1stGenHomeNH

    Statewide in New Hampshire

    Limited funds remain, per the source

    New Hampshire state agency help of $10,000 for the down payment, closing costs and the escrow account, as a second mortgage with no interest or payments, repaid when you sell, refinance or leave the home; for first-generation buyers, people who were in foster care, or refugees or asylees. Offered by New Hampshire Housing.

    Deferred

    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.

  • Neighborworks of Southern New Hampshire

    801 Elm St, Manchester · 34 miles away

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 5 more
    (603) 626-4663

  • New Hampshire Housing Finance Authority

    32 Constitution Dr, Bedford · 35 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (603) 310-9287

  • New Hampshire Housing Finance Authority

    32 Constitution Dr, Bedford · 35 miles away

    • Home improvement and repairs
    • Pre-purchase counseling
    (603) 472-8623

All counseling agencies in New Hampshire

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

In HUD’s record, no housing authority with an office in Merrimack County is named for Franklin or Merrimack County.

One other authority has an office in Merrimack County: see the list Source: HUD

Cities

Other cities in Merrimack County

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

Everything about Merrimack County Housing in New Hampshire

Nearby cities

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

Neighboring counties

If Merrimack County 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 father and mother walk their son by the hand down the sidewalk.

Questions

Housing questions about Franklin

Short answers with the numbers for Franklin and all of Merrimack County. 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 $262,200, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Merrimack County it is $367,600.

How much does it cost to rent in Franklin?

Typical rent in Franklin is $1,110 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Merrimack County is $1,800.

What is the FHA loan limit in Franklin?

Franklin uses the FHA limit for all of Merrimack County (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 $4,886 a year, according to the U.S. Census Bureau. That is 1.86% of the home’s value; in Merrimack County, the rate is 1.85%.

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

We found no HUD-approved counseling agencies with an office in Merrimack County; the nearest ones are on this page. 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).