In New Franklin, a typical home is worth $214,300 and typical rent is $1,132 a month. Compared with all of Summit County, typical household income is 26% higher, typical rent is 10% higher, and the share of households that own their home is 21 points higher.
New Franklin is in Summit 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 Summit County. See the county
What this place has that others do not, from public data, most unusual first.
1
New Franklin has the 7th smallest share of rent-burdened renters of the 253 cities in Ohio with more than 5,000 people (30%).
2
88% of households in New Franklin own their home, against 68% in Summit County.
3
Nearby, in Barberton, the typical home value is $135,200: 37% less than in New Franklin ($214,300).
4
Nearby, in Barberton, the typical rent is $848: 25% less than in New Franklin ($1,132).
5
The typical household income in New Franklin is $90,244,26% more than in Summit County as a whole ($71,622).
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in New Franklin
What homes there are in New 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
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
New Franklin
Summit County
Ohio
United States
Kind of home: New Franklin and its comparisons
Measure
New Franklin
Summit County
Ohio
United States
Detached house
91%
71%
69%
61%
Attached house
Unreliable estimate
6%
5%
6%
Building of 2 to 4
3%
7%
8%
8%
Apartments (5 or more)
Unreliable estimate
15%
15%
19%
Mobile home
3%
1%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In New Franklin, 9 in 10 homes are single-family detached houses; in Summit County, 7.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
New Franklin
Summit County
Ohio
United States
Year built: New Franklin and its comparisons
Measure
New Franklin
Summit County
Ohio
United States
Before 1960
44%
43%
38%
26%
1960–1979
40%
26%
26%
24%
1980–1999
11%
19%
20%
25%
2000–2009
5%
8%
10%
14%
2010 or later
Unreliable estimate
5%
7%
11%
In New Franklin, half of the homes were built before 1963; in Summit County, before 1966.
In New Franklin, 80% of homes have 3 bedrooms or more, more than in Summit County (64%).
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K6%
$100K–$200K38%
$200K–$300K32%
$300K–$500K17%
$500K–$750K5%
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: New Franklin and its comparisons
Measure
New Franklin
Under $100K
6%
$100K–$200K
38%
$200K–$300K
32%
$300K–$500K
17%
$500K–$750K
5%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
By price, most homes in New Franklin sit under the FHA limit for Summit County ($541,287): about 94%.
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99934%
$1,000–$1,49943%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: New Franklin and its comparisons
Measure
New Franklin
Under $500
Unreliable
$500–$999
34%
$1,000–$1,499
43%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,524 a month
Summit County: $1,470 a month
Without a mortgage
$590 a month
Summit County: $599 a month
Owners with a mortgage
56%
Summit County: 64%
Owning costs about the same in New Franklin as in Summit County: with a mortgage, $1,524 a month; without one, $590.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
New Franklin+44%
Summit County+42%
Ohio+47%
United States+53%
Typical rent
New Franklin+29%
Summit County+25%
Ohio+28%
United States+33%
Typical household income
New Franklin+24%
Summit County+25%
Ohio+26%
United States+29%
Change since 2015–2019: New Franklin and its comparisons
Measure
New Franklin
Summit County
Ohio
United States
Typical home value
+44%
+42%
+47%
+53%
Typical rent
+29%
+25%
+28%
+33%
Typical household income
+24%
+25%
+26%
+29%
From 2015–2019 to 2020–2024, home values in New Franklin rose at about the same pace as in Summit County: 44% against 42%.
Since 2015–2019, the typical rent in New Franklin rose 29%, more than in Summit County (25%).
Housing prices ran ahead of income in New Franklin: typical income rose 24%, against +44% for home values and +29% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: New Franklin and its comparisons
Measure
New Franklin
Summit County
Ohio
United States
Rental vacancy
Unreliable estimate
3.4%
4.4%
5.5%
Homeowner vacancy
Unreliable estimate
0.9%
0.8%
0.9%
More than one person per room
Unreliable estimate
1.0%
1.5%
3.4%
People per household
2.43
2.29
2.37
2.53
Drive alone
81%
75%
75%
69%
Carpool
6%
8%
8%
9%
Public transit
Unreliable estimate
1%
1%
3%
Walk or bike
Unreliable estimate
1%
2%
3%
Work from home
12%
15%
13%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
Households in New Franklin are bigger: 2.43 people on average; in Summit County, 2.29.
To get to work, 81% of workers in New Franklin drive alone; in Summit County, 75%.
Do the math
What would you pay each month for a home in New Franklin?
A typical home is within reach of the typical income
We start with a typical home in New Franklin, worth $214,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 25% of the typical household income in New Franklin, which is $90,244 a year.
The calculator's FHA and conventional loan limits are those of all of Summit County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in New Franklin. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $7,501 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,886
at 7.18% · 30 years
Loan amount
$210,418
Total interest
$302,742
Paid off in
November 2056
Includes $3,619 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,106 a month
Your payment · 25%
Tight
$2,106 to $2,707 a month
Hard
more than $2,707 a month
Compared with the typical household income in New Franklin ($90,244 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,425
Property tax
$277
Home insurance
$89
FHA mortgage insurance (MIP)
$95
You need at least $7,501 for the down payment, plus closing costs.
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.
Total monthly payment $1,886; principal and interest $1,425.
The city and its county
New Franklin and Summit County
New Franklin is in Summit County, Ohio. 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).
New Franklin
Map of Summit County, Ohio, with New Franklin marked. Around it, the neighboring counties.
New Franklin
Summit County
Other cities with a page
New Franklin's own numbers
Typical home value
$214,300
Typical monthly rent
$1,132
Typical yearly household income
$90,244
Households that own their home
88%
Effective property tax rate
1.55%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Summit County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,231
Price change over 5 years (FHFA)
+51%
Homes in a high flood-risk zone
0.6%
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 Summit County.
A typical home in New Franklin is worth $214,300: 3% above the county and about the same as Ohio. With the typical household income in New Franklin ($90,244 a year), a typical home costs 2.4 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.
New Franklin2.4 years
Summit2.9 years
Ohio3.0 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Summit County
According to FHFA’s house price index, home prices in Summit County rose 87% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Summit County.
Yearly change in FHFA’s price index in Summit County, 2016 to 2025
2016: +3.0% +3.0% 2016
2017: +4.3% +4.3% 2017
2018: +5.5% +5.5% 2018
2019: +4.5% +4.5% 2019
2020: +4.3% +4.3% 2020
2021: +10.6% +10.6% 2021
2022: +13.5% +13.5% 2022
2023: +7.3% +7.3% 2023
2024: +8.1% +8.1% 2024
2025: +3.9% +3.9% 2025
Change in FHFA’s price index in Summit County, Ohio and the United States
Period
County
Ohio
U.S.
Last year (2025)
+3.9%
+4.8%
+2.9%
5 years (2020–2025)
+51%
+53%
+47%
10 years (2015–2025)
+87%
+93%
+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
New Franklin next to Summit County, Ohio and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
New Franklin$214,300
Summit$208,700
Ohio$214,800
United States$332,700
Typical monthly rent
New Franklin$1,132
Summit$1,026
Ohio$1,034
United States$1,413
Typical yearly household income
New Franklin$90,244
Summit$71,622
Ohio$71,389
United States$80,734
See the full table
New Franklin next to Summit County and Ohio
Measure
New Franklin
Summit County
Ohio
U.S.
Typical home value
$214,300 ▲3% above the county
$208,700
$214,800
$332,700
Typical monthly rent
$1,132 ▲10% above the county
$1,026
$1,034
$1,413
Typical yearly household income
$90,244 ▲26% above the county
$71,622
$71,389
$80,734
Households that own their home
88% ▲21 points above the county
68%
67%
65%
Typical yearly property tax
$3,330 ▲4% above the county
$3,195
$2,822
$3,119
Effective property tax rate
1.55% ▲0.02 points above the county
1.53%
1.31%
0.94%
Renters with high rent for their income
30% ▼19 points below the county
48%
46%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Summit 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 New Franklin
For a typical $214,300 home in New Franklin, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, New Franklin's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,886a month
Least cash to close
Down payment
$7,501
Cash to close
$13,930
Rate
7.18%
Mortgage insurance
FHA MIP · $95
Conventional, 5% down$1,847a month
Down payment
$10,715
Cash to close
$17,144
Rate
7.18%
Mortgage insurance
PMI · $102
Conventional, 20% down, no PMI$1,527a month
Down payment
$42,860
Cash to close
$49,289
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,726a month
Down payment
$32,145
Cash to close
$38,574
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in New Franklin
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,886
$7,501
$210,418
7.18%
FHA MIP · $95
$13,930
580
Conventional, 5% down
$1,847
$10,715
$203,585
7.18%
PMI · $102
$17,144
620*
Conventional, 20% down, no PMI
$1,527
$42,860
$171,440
7.18%
None
$49,289
620*
ITIN, 15% down (example)
$1,726
$32,145
$182,155
8.18%
None
$38,574
Set by the lender
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.
Typical rent in New Franklin is $1,132 a month: 10% above the county. In New Franklin, 30% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Summit County, by unit size. To pay the 2-bedroom one ($1,231 a month) without spending more than 30% of your income, you would need to earn $23.67 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Summit County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$886
$17.04
$35,440
1 bedroom
$952
$18.31
$38,080
2 bedrooms
$1,231
$23.67
$49,240
3 bedrooms
$1,474
$28.35
$58,960
4 bedrooms
$1,618
$31.12
$64,720
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 New Franklin
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). New Franklin has 2 ZIP codes with their own.
For 2 bedrooms it runs from $1,000 in 44216 to $1,300 in 44319.
1 of the 2 is above the fair market rent for Summit County ($1,231).
Fair market rent by ZIP code and size in New Franklin, fiscal year 2027.
44216
$720
$780
$1,000
$1,210
$1,320
44319
$940
$1,010
$1,300
$1,560
$1,710
ZIP code2 bd3 bd
44216 $1,000$1,210
44319 $1,300$1,560
2 of these ZIP codes cross the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for New 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 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
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 are 5 HUD-approved agencies with an office in Summit County; 1 says it serves in Spanish.
No down payment, repair or rent-help program on our list is for New Franklin or Summit County. The ones below are statewide in Ohio: they work in New Franklin the same as in the rest of the state.
Ohio state agency help of 2.5% or 5% of the price for the down payment, closing costs or other costs before closing, forgiven after seven years; if you sell sooner, you repay all of it.Offered by Ohio Housing Finance Agency (OHFA).
Ohio state agency certificate that turns part of your mortgage interest into a credit on your federal tax return, up to $2,000 a year: 40% with an OHFA mortgage (MTC Plus) or 15% to 20% with another mortgage (MTC Basic).Offered by Ohio Housing Finance Agency (OHFA).
The HUD-approved agencies closest to the center of New Franklin, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
MS
Mustard Seed Development Center
1557 Vernon Odom Blvd, Akron · 8 miles away · Spanish
Also serves in Arabic, American Sign Language (ASL), Cambodian, Cantonese, and 19 more languages.
No legal help resource on our list is for New Franklin or Summit County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for New Franklin and all of Summit 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 New Franklin?
The typical home value in New Franklin is $214,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Summit County it is $208,700.
How much does it cost to rent in New Franklin?
Typical rent in New Franklin is $1,132 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Summit County is $1,231.
What is the FHA loan limit in New Franklin?
New Franklin uses the FHA limit for all of Summit 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 New Franklin?
The typical homeowner in New Franklin pays $3,330 a year, according to the U.S. Census Bureau. That is 1.55% of the home’s value; in Summit County, the rate is 1.53%.
Where can I find free help to buy or rent in New Franklin?
There are 5 HUD-approved counseling agencies with an office in Summit County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.
