Franklin County, Tennessee Housing Market
In Franklin County, Tennessee, the median home value is $236,900, with a median monthly rent of $894. This places Franklin County at #1021 nationally out of 3134 counties by median home value, and #31 within Tennessee.
📈 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: $1,037
- Establishments: 885
- BLS QCEW, 2025
Housing Supply
- Single-family: 315
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 17,351 (avg $68,335)
- Outflow: 16,123 (avg $67,299)
- 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 | 37398 | 325.1 | +6.30% | 2025 |
| 2 | 37380 | 245.9 | -5.08% | 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.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Franklin County Compares
| Metric | Franklin County | Tennessee Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $236,900 | $223,385 | $227,706 |
| Median Gross Rent | $894 | $892 | $968 |
| Owner Occupancy Rate | 77.4% | 74.1% | 73.3% |
| Price/Rent Ratio | 22.1 | 20.5 | 18.7 |
Market Analysis
The median home value in Franklin County is 6.1% above the Tennessee state average and 4.0% above the U.S. national average. The median rent of $894/month is about equal to the state average.
With a price-to-rent ratio of 22.1, 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 77.4%, compared to 74.1% in Tennessee 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 |
|---|---|---|---|
| Riley County | Kansas | $237,100 | $1,046 |
| Oconee County | South Carolina | $237,100 | $881 |
| Jefferson County | Missouri | $237,200 | $979 |
| Dubuque County | Iowa | $237,300 | $959 |
| Rankin County | Mississippi | $237,400 | $1,270 |
Other Counties in Tennessee
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| DeKalb County | $235,500 | $839 | 72.6% |
| Anderson County | $239,400 | $1,031 | 71.7% |
| Giles County | $234,300 | $862 | 73.3% |
| Tipton County | $240,600 | $1,013 | 76.3% |
| Roane County | $232,900 | $785 | 78.1% |
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).