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City · 87,133 residents · Williamson County, Tennessee

Franklin , Tennessee

In Franklin, a typical home is worth $705,400 and typical rent is $1,923 a month. Compared with all of Williamson County, typical household income is 12% lower, the typical home value is 6% lower, and the share of households that own their home is 15 points lower.

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  • Typical home value

    $705,400

    6% below the county

    146% above Tennessee

    • Franklin
    • Williamson
    • Tennessee

  • Typical rent

    $1,923a month

    2% below the county

    62% above Tennessee

    • Franklin
    • Williamson
    • Tennessee

  • Typical household income

    $119,528a year

    12% below the county

    72% above Tennessee

    • Franklin
    • Williamson
    • Tennessee

  • Households that own their home

    64%

    15 points below the county

    3 points below Tennessee

    • Franklin
    • Williamson
    • Tennessee

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

Market now, with Zillow data

Zillow data
Typical home value
$913,277
3% more than 12 months ago
Typical rent
$2,038 a month
0.8% more than 12 months ago

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

Franklin is in Williamson County. The FHA loan limit ($1,029,250 for a one-unit home), the fair market rents and the help on this page are those of all of Williamson 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. Franklin has the 3rd highest typical home value of the 113 cities in Tennessee with more than 5,000 people ($705,400).

  2. Nearby, in Fairview, the typical home value is $390,200: 45% less than in Franklin ($705,400).

  3. Nearby, in Fairview, the typical rent is $1,301: 32% less than in Franklin ($1,923).

  4. 64% of households in Franklin own their home, against 79% in Williamson County.

  5. Franklin has the 8th highest typical rent of the 109 cities in Tennessee with more than 5,000 people ($1,923).

  6. Franklin has the 9th highest typical household income of the 113 cities in Tennessee with more than 5,000 people ($119,528).

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 Williamson County, 8.

Year built

By age, homes in Franklin look like those in Williamson County: the typical year built is 2002.

There are fewer big homes in Franklin than in Williamson County: 63% have 3 bedrooms or more, against 79%.

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

$2,542 a month

Williamson County: $2,642 a month

Without a mortgage

$712 a month

Williamson County: $717 a month

Owners with a mortgage

68%

Williamson County: 68%

The typical cost for an owner with a mortgage in Franklin is $2,542 a month, near the figure in Williamson County ($2,642).

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

Since 2015–2019, homes in Franklin gained value faster than in Williamson County: 71% against 68%.

The typical rent in Franklin rose 30% since 2015–2019, about the same as in Williamson County (31%).

The typical household income in Franklin rose 22%: less than home values (+71%) and rent (+30%).

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

MeasureFranklinWilliamson CountyTennesseeUnited States
Rental vacancy 7.2%6.7%6.1%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.9%0.9%
More than one person per room 1.4%1.0%2.2%3.4%
People per household 2.542.812.452.53
Drive alone 62%65%76%69%
Carpool 6%5%8%9%
Public transit Unreliable estimateUnreliable estimate0%3%
Walk or bike Unreliable estimate1%1%3%
Work from home 30%28%13%15%
Other means 1%1%1%2%
Typical commute 20 to 29 minutes20 to 29 minutes20 to 29 minutes20 to 29 minutes

Much as in Williamson County, the rental vacancy rate in Franklin is 7.2%.

In Franklin, 1.4% of households live with more than one person per room, about the same as in Williamson County.

Fewer people live in each home here: 2.54 on average, against 2.81 in Williamson County.

In Franklin, 62% of workers drive alone to work; in Williamson County, 65%.

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 $705,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 56% of the typical household income in Franklin, which is $119,528 a year. For that payment to be 28% of income, a household would need to earn about $237,889 a year.

The calculator's FHA and conventional loan limits are those of all of Williamson 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 $24,689 (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

$5,551

at 7.18% · 30 years

Loan amount
$692,623
Total interest
$996,523
Paid off in
November 2056

Includes $11,912 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,789 a month

  • Tight

    $2,789 to $3,586 a month

  • Hard

    more than $3,586 a month

    Your payment · 56%

Compared with the typical household income in Franklin ($119,528 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,551
Principal & interest$4,692
Property tax$253
Home insurance$294
FHA mortgage insurance (MIP)$312

You need at least $24,689 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 Williamson County

Franklin is in Williamson County, Tennessee. 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
$705,400
Typical monthly rent
$1,923
Typical yearly household income
$119,528
Households that own their home
64%
Effective property tax rate
0.43%

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

Numbers for all of Williamson County

FHA limit, one-unit home
$1,029,250
Conventional limit, one unit
$1,029,250
HUD fair market rent, 2 bedrooms
$1,798
Price change over 5 years (FHFA)
+69%
Homes in a high flood-risk zone
1.5%

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 Williamson County.

Everything about Williamson County

Buying

Buying a home in Franklin

A typical home in Franklin is worth $705,400: 6% below the county and 146% above Tennessee. With the typical household income in Franklin ($119,528 a year), a typical home costs 5.9 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 5.9 years
  • Williamson 5.5 years
  • Tennessee 4.1 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Williamson County

According to FHFA’s house price index, home prices in Williamson County rose 128% in the 10 years through 2025.

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

Period County Tennessee U.S.
Last year (2025) +2.8% +2.4% +2.9%
5 years (2020–2025) +69% +60% +47%
10 years (2015–2025) +128% +114% +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 Williamson County, Tennessee and the U.S.

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

Typical home value
  • Franklin $705,400
  • Williamson $751,900
  • Tennessee $286,700
  • United States $332,700
Typical monthly rent
  • Franklin $1,923
  • Williamson $1,969
  • Tennessee $1,189
  • United States $1,413
Typical yearly household income
  • Franklin $119,528
  • Williamson $135,594
  • Tennessee $69,595
  • United States $80,734
See the full table
Franklin next to Williamson County and Tennessee
Measure Franklin Williamson County Tennessee U.S.
Typical home value $705,400 $751,900 $286,700 $332,700
Typical monthly rent $1,923 $1,969 $1,189 $1,413
Typical yearly household income $119,528 $135,594 $69,595 $80,734
Households that own their home 64% 79% 67% 65%
Typical yearly property tax $3,011 $3,004 $1,442 $3,119
Effective property tax rate 0.43% 0.4% 0.5% 0.94%
Renters with high rent for their income 47% 49% 49% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Williamson 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 $705,400 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 $5,551a month

    Least cash to close
    Down payment
    $24,689
    Cash to close
    $45,851
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $312

  • Conventional, 5% down $5,421a month

    Down payment
    $35,270
    Cash to close
    $56,432
    Rate
    7.18%
    Mortgage insurance
    PMI · $335

  • Conventional, 20% down, no PMI $4,370a month

    Down payment
    $141,080
    Cash to close
    $162,242
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $5,022a month

    Down payment
    $105,810
    Cash to close
    $126,972
    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 Williamson County.

Property tax

Effective rate in Franklin

0.43%of the home’s value each year

$3,011 a year for the typical owner in Franklin.

  • Franklin 0.43%
  • Williamson 0.4%
  • Tennessee 0.5%

What Tennessee publishes Property tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)

Exemptions and deadlines in Tennessee

Flood risk in Williamson County

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

Homes in the high-risk zone
1.5%
796
Of those, with NFIP insurance
86%
County Tennessee U.S.
Homes in the high-risk zone 1.5% 1.6% 3.5%
Of those, with NFIP insurance 86% 25% 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 $1,923 a month: 2% below the county. In Franklin, 47% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Williamson County, by unit size. To pay the 2-bedroom one ($1,798 a month) without spending more than 30% of your income, you would need to earn $34.58 an hour working full time.

HUD fair market rent for all of Williamson 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 $1,585 $30.48 $63,400
1 bedroom $1,650 $31.73 $66,000
2 bedrooms $1,798 $34.58 $71,920
3 bedrooms $2,309 $44.40 $92,360
4 bedrooms $2,799 $53.83 $111,960

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 has 2 ZIP codes with their own.

For 2 bedrooms it runs from $2,230 in 37064 to $2,270 in 37067.

2 of the 2 are above the fair market rent for Williamson County ($1,798).

  • 37064 $2,230$2,860
  • 37067 $2,270$2,910

2 of these ZIP codes cross 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 5 buildings with rents for lower incomes in Franklin. These are the largest.

  • Reddick Street Apartments 157 Strahl St, Franklin 37064 65 low-income homes · 1 bd: 6 · 2 bd: 39 · 3 bd: 18 · 4 bd: 2 · In service since 2016
  • Franklin HSG Auth 508 W Meade Blvd, Franklin 37064 60 low-income homes · Run by Franklin Housing Authority · Homes at several sites (615) 794-1247
  • Harpeth Hills Apartments 300 Sycamore Dr, Franklin 37064 51 homes, 50 low-income · For families (615) 794-3263
  • Senior Residence at Reddick Street 145 Strahl St, Franklin 37064 48 low-income homes · 1 bd: 44 · 2 bd: 4 · In service since 2013 · For older adults
  • Senior Residence at Reddick Street 198 Granbury St, Franklin 37064 8 homes · Run by Franklin Housing Authority (615) 794-1247

See all 8 buildings in Williamson 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.

There is 1 HUD-approved agency with an office in Williamson County; 1 says it serves in Spanish.

A pregnant woman reads paperwork on the sofa while the grandmother plays with the girl on the floor.

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

Which programs do I qualify for? All programs in Tennessee

  • Great Choice Plus

    Statewide in Tennessee

    Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage. Offered by Tennessee Housing Development Agency (THDA).

    ForgivableRepayable

    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.

  • Good Neighbor Foundation

    129 W Fowlkes St, Franklin · 1 miles away · Spanish

    Also serves in Arabic.

    • Mortgage delinquency and default
    • Home improvement and repairs
    • and 3 more
    (615) 610-4912

  • Life of Victory International Christian Ministries

    144 Bain Dr Ste 200, La Vergne · 16 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (615) 213-1468

  • Operation Hope- Nashville Branch - First Bank

    1817 W End Ave, Nashville · 17 miles away

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 4 more
    (615) 768-9059

Every agency in Williamson County All counseling agencies in Tennessee

Help in Spanish near Franklin

2 of the 3 agencies on this list say they serve 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 Williamson County. They run public housing or Section 8 vouchers. Ask whether their waiting list is open.

  • Franklin Housing Authority Public housing and Section 8 vouchers (615) 794-1247

All housing agencies in Tennessee Source: HUD

Cities

Other cities in Williamson County

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

Everything about Williamson County Housing in Tennessee

Nearby cities

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

Neighboring counties

If Williamson 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 holds his baby and his young son by a white picket fence.

Questions

Housing questions about Franklin

Short answers with the numbers for Franklin and all of Williamson 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 $705,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Williamson County it is $751,900.

How much does it cost to rent in Franklin?

Typical rent in Franklin is $1,923 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Williamson County is $1,798.

What is the FHA loan limit in Franklin?

Franklin uses the FHA limit for all of Williamson County (2026): $1,029,250 for a one-unit home and $1,979,350 for a four-unit home.

How much property tax do owners pay in Franklin?

The typical homeowner in Franklin pays $3,011 a year, according to the U.S. Census Bureau. That is 0.43% of the home’s value; in Williamson County, the rate is 0.4%.

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

There is 1 HUD-approved counseling agency with an office in Williamson County. 1 says it serves in Spanish. 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).