Franklin County, Indiana Housing Market
In Franklin County, Indiana, the median home value is $249,500, with a median monthly rent of $870. This places Franklin County at #892 nationally out of 3134 counties by median home value, and #11 within Indiana.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $960
- Establishments: 336
- BLS QCEW, 2025
Housing Supply
- Single-family: 59
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 9,519 (avg $82,988)
- Outflow: 9,127 (avg $83,819)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Franklin County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 47036 | 215.6 | — | 2025 |
| 2 | 47353 | 228.3 | +21.68% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
🔗 Explore Franklin County on Our Sister Sites
Get the complete picture for Franklin County — financing options and ongoing ownership costs.
💰 Mortgage Guide → 🧾 Property Tax Data →How Franklin County Compares
| Metric | Franklin County | Indiana Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $249,500 | $191,898 | $227,706 |
| Median Gross Rent | $870 | $910 | $968 |
| Owner Occupancy Rate | 81.5% | 76.3% | 73.3% |
| Price/Rent Ratio | 23.9 | 17.5 | 18.7 |
Market Analysis
The median home value in Franklin County is 30.0% above the Indiana state average and 9.6% above the U.S. national average. The median rent of $870/month is 4.4% below the state average.
With a price-to-rent ratio of 23.9, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Franklin County has an owner-occupancy rate of 81.5%, compared to 76.3% in Indiana and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Putnam County | Georgia | $249,300 | $1,002 |
| Franklin County | Pennsylvania | $249,800 | $1,093 |
| Shelby County | Tennessee | $249,100 | $1,232 |
| Gulf County | Florida | $250,000 | $1,187 |
| Meeker County | Minnesota | $249,000 | $904 |
Other Counties in Indiana
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Floyd County | $251,000 | $1,036 | 73.2% |
| Dearborn County | $243,400 | $845 | 85.2% |
| LaGrange County | $255,900 | $839 | 83.0% |
| Warrick County | $242,500 | $1,061 | 82.4% |
| Tippecanoe County | $239,300 | $1,124 | 53.4% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).