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City · 5,984 residents · Venango County, Pennsylvania

Franklin , Pennsylvania

In Franklin, a typical home is worth $116,900 and typical rent is $731 a month. Compared with all of Venango County, typical household income is 23% lower, typical rent is 8% lower, and the share of households that own their home is 28 points lower.

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  • Typical home value

    $116,900

    2% below the county

    54% below Pennsylvania

    • Franklin
    • Venango
    • Pennsylvania

  • Typical rent

    $731a month

    8% below the county

    40% below Pennsylvania

    • Franklin
    • Venango
    • Pennsylvania

  • Typical household income

    $47,117a year

    23% below the county

    40% below Pennsylvania

    • Franklin
    • Venango
    • Pennsylvania

  • Households that own their home

    48%

    28 points below the county

    22 points below Pennsylvania

    • Franklin
    • Venango
    • Pennsylvania

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

Market now, with Zillow data

Zillow data
Typical home value
$128,568
1.8% less than 12 months ago

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

Franklin is in Venango 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 Venango 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. 48% of households in Franklin own their home, against 75% in Venango County.

  2. Franklin has the 10th lowest typical rent of the 265 cities in Pennsylvania with more than 5,000 people ($731).

  3. Nearby, in Oil City, the typical home value is $74,100: 37% less than in Franklin ($116,900).

  4. According to Zillow, in the 12 months to September 2026 the typical home value in Franklin fell 1.8%; in Pennsylvania, it rose 2.2%.

  5. The typical household income in Franklin is $47,117, 23% less than in Venango County as a whole ($61,522).

Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data

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 Venango County, 8.

Year built

Old homes abound here: at least half date from before 1940, and 70% were built before 1960.

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

The FHA limit for Venango County is high ($541,287): at least 98% of owner-occupied homes in Franklin are worth less than $500,000.

Monthly rent with utilities

About 79% of rented homes in Franklin cost less than HUD's 2-bedroom fair market rent for Venango County ($1,014).

With a mortgage

$1,057 a month

Venango County: $1,149 a month

Without a mortgage

$514 a month

Venango County: $475 a month

Owners with a mortgage

53%

Venango County: 44%

The typical cost for an owner with a mortgage in Franklin is $1,057 a month, less than in Venango County ($1,149); without one, $514.

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 Venango County, the typical home value in Franklin rose 36% since 2015–2019.

The typical rent in Franklin rose 22% over the same time; in Venango County, it rose 28%.

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

MeasureFranklinVenango CountyPennsylvaniaUnited States
Rental vacancy Unreliable estimateUnreliable estimate4.9%5.5%
Homeowner vacancy Unreliable estimate1.5%0.8%0.9%
More than one person per room Unreliable estimate1.2%1.6%3.4%
People per household 2.182.282.392.53
Drive alone 65%79%68%69%
Carpool 10%9%8%9%
Public transit Unreliable estimateUnreliable estimate4%3%
Walk or bike 9%2%4%3%
Work from home Unreliable estimate9%16%15%
Other means Unreliable estimate0%1%2%
Typical commute 10 to 19 minutesUnreliable estimate20 to 29 minutes20 to 29 minutes

By size, households in Franklin look like those in Venango County: 2.18 people on average.

In Franklin, 9% of workers walk or bike to work; in Venango County, 2%.

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 $116,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Franklin, which is $47,117 a year.

The calculator's FHA and conventional loan limits are those of all of Venango 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 $4,092 (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

$1,034

at 7.18% · 30 years

Loan amount
$114,782
Total interest
$165,145
Paid off in
November 2056

Includes $1,974 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,099 a month

    Your payment · 26%

  • Tight

    $1,099 to $1,414 a month

  • Hard

    more than $1,414 a month

Compared with the typical household income in Franklin ($47,117 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$1,034
Principal & interest$778
Property tax$156
Home insurance$49
FHA mortgage insurance (MIP)$52

You need at least $4,092 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 Venango County

Franklin is in Venango County, Pennsylvania. 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
$116,900
Typical monthly rent
$731
Typical yearly household income
$47,117
Households that own their home
48%
Effective property tax rate
1.6%

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

Numbers for all of Venango County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,014
Price change over 5 years (FHFA)
+44%
Homes in a high flood-risk zone
3%

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 Venango County.

Everything about Venango County

Buying

Buying a home in Franklin

A typical home in Franklin is worth $116,900: 2% below the county and 54% below Pennsylvania. With the typical household income in Franklin ($47,117 a year), a typical home costs 2.5 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 2.5 years
  • Venango 1.9 years
  • Pennsylvania 3.3 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Venango County

According to FHFA’s house price index, home prices in Venango County rose 66% in the 10 years through 2025.

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

Period County Pennsylvania U.S.
Last year (2025) +1.9% +4.7% +2.9%
5 years (2020–2025) +44% +48% +47%
10 years (2015–2025) +66% +77% +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 Venango County, Pennsylvania and the U.S.

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

Typical home value
  • Franklin $116,900
  • Venango $119,800
  • Pennsylvania $254,500
  • United States $332,700
Typical monthly rent
  • Franklin $731
  • Venango $795
  • Pennsylvania $1,209
  • United States $1,413
Typical yearly household income
  • Franklin $47,117
  • Venango $61,522
  • Pennsylvania $77,971
  • United States $80,734
See the full table
Franklin next to Venango County and Pennsylvania
Measure Franklin Venango County Pennsylvania U.S.
Typical home value $116,900 $119,800 $254,500 $332,700
Typical monthly rent $731 $795 $1,209 $1,413
Typical yearly household income $47,117 $61,522 $77,971 $80,734
Households that own their home 48% 75% 69% 65%
Typical yearly property tax $1,871 $1,520 $3,311 $3,119
Effective property tax rate 1.6% 1.27% 1.3% 0.94%
Renters with high rent for their income 44% 48% 48% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Venango 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 $116,900 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 $1,034a month

    Least cash to close
    Down payment
    $4,092
    Cash to close
    $7,599
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $52

  • Conventional, 5% down $1,012a month

    Down payment
    $5,845
    Cash to close
    $9,352
    Rate
    7.18%
    Mortgage insurance
    PMI · $56

  • Conventional, 20% down, no PMI $838a month

    Down payment
    $23,380
    Cash to close
    $26,887
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $946a month

    Down payment
    $17,535
    Cash to close
    $21,042
    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 Venango County.

Property tax

Effective rate in Franklin

1.6%of the home’s value each year

$1,871 a year for the typical owner in Franklin.

  • Franklin 1.6%
  • Venango 1.27%
  • Pennsylvania 1.3%

What Pennsylvania publishes Property Tax/Rent Rebate Program (PTRR) (Pennsylvania Department of Revenue)

Exemptions and deadlines in Pennsylvania

Flood risk in Venango County

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

Homes in the high-risk zone
3%
771
Of those, with NFIP insurance
9.5%
County Pennsylvania U.S.
Homes in the high-risk zone 3% 2% 3.5%
Of those, with NFIP insurance 9.5% 23% 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 $731 a month: 8% below the county. In Franklin, 44% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Venango County, by unit size. To pay the 2-bedroom one ($1,014 a month) without spending more than 30% of your income, you would need to earn $19.50 an hour working full time.

HUD fair market rent for all of Venango 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 $706 $13.58 $28,240
1 bedroom $775 $14.90 $31,000
2 bedrooms $1,014 $19.50 $40,560
3 bedrooms $1,276 $24.54 $51,040
4 bedrooms $1,429 $27.48 $57,160

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 16323.

For 2 bedrooms it is $1,030: $16 more than the fair market rent for Venango County ($1,014).

  • 16323 $1,030$1,300

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

  • Oak Hill Apartments 10 Taylor St, Franklin 16323 120 homes, 119 low-income · 1 bd: 20 · 2 bd: 48 · 3 bd: 52 · In service since 2015 · For families (814) 432-4035
  • Evergreen Arbors 10 Arbor Cir, Franklin 16323 100 low-income homes · For families (814) 437-2612
  • Franklin Arbors 1220 Chestnut St, Franklin 16323 87 low-income homes · For older adults (814) 437-3343
  • Colonial Manor 1212 Chestnut St, Franklin 16323 61 low-income homes · Run by Housing Authority of the City of Franklin · Average payment: $411 a month · Average wait: 2 months (814) 432-3416
  • Myrtle Circle Franklin 16323 40 homes, 39 low-income · Run by Housing Authority of the City of Franklin · Average payment: $388 a month · Average wait: 2 months (814) 432-3416

See all 14 buildings in Venango 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 Venango County. The nearest ones are below; many serve by phone or online.

An older woman smiles in front of her apartment building.

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 Venango County. The ones below are statewide in Pennsylvania: they work in Franklin the same as in the rest of the state.

Which programs do I qualify for? All programs in Pennsylvania

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.

  • Center for Family Services, Incorporated

    996 S Main St, Meadville · 24 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 7 more
    (814) 337-8450

  • Shenango Valley Urban League

    601 Indiana Ave, Farrell · 36 miles away

    • Mortgage delinquency and default
    • Homelessness services
    • and 2 more
    (724) 981-5310

  • Housing Opportunities, Inc.

    2418 Wilmington Rd, New Castle · 37 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 2 more
    (724) 728-7511

All counseling agencies in Pennsylvania

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 Venango County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Housing Authority of the City of Franklin Public housing and Section 8 vouchers (814) 432-3416

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

Cities

Other cities in Venango County

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

Everything about Venango County Housing in Pennsylvania

Nearby cities

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

Neighboring counties

If Venango 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 smiles as he carries his baby on his shoulders outdoors.

Questions

Housing questions about Franklin

Short answers with the numbers for Franklin and all of Venango 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 $116,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Venango County it is $119,800.

How much does it cost to rent in Franklin?

Typical rent in Franklin is $731 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Venango County is $1,014.

What is the FHA loan limit in Franklin?

Franklin uses the FHA limit for all of Venango 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 $1,871 a year, according to the U.S. Census Bureau. That is 1.6% of the home’s value; in Venango County, the rate is 1.27%.

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

We found no HUD-approved counseling agencies with an office in Venango 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).