According to statistics, the population in Franklin, TN amounts to 72,990, which shows growth 3% compared to the previous year. The median age of the city’s residents is 38. The average household income is $92,589, shifting growth 4% from the past year, and the average property value in Franklin, TN growth 6% to $362,300 throughout the year.
|Number Of Employees||38,464|
|Median Property Value||$362,300|
The average household income in Franklin, TN grew from $88,961 to $92,589 in the past year. This data is an estimate based upon 27,542 households in Franklin, TN . The chart below presents how household income is distributed in Franklin, TN in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Franklin, TN shifted from $342,900 to $362,300 throughout the year. The subsequent graph indicates the share of properties in the given price range in Franklin, TN in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Franklin, TN properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Franklin, TN compared to median property taxes around the country. The prevalent amount of property taxes in Franklin, TN equals $2500, which is less than the national average.
|Apartment Size||Jul||vs Last Month|
|1 bed for sale||$300,000||-10.3%|
|2 bed for sale||$562,721||-17.3%|
|3 bed for sale||$655,840||-10.2%|
|4+ bed for sale||$1,196,706||-3.6%|
During Jul 2022, the average price for an apartment in/near Franklin, TN decreased by 5.4% to $947,014.
After collecting all data points, we now see that the average price for 1-bed apartment decreased by 10.3% to $300,000. Asking price for 2-bed apartment also decreased by 17.3% and a place of this size will now cost you $562,721. A 3-bed apartment goes for $655,840, it decreased by 10.2% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 3.6% and made it down to $1,196,706.
|Listing Type||Jul||vs Last Month|
|Houses for sale||$984,231||-8.1%|
|Condos for sale||$1,064,778||+81.2%|
|Land for sale||$1,049,999||N/A|
|Townhouses for sale||$577,477||+13.2%|
Price reports demonstrate that house price decreased by 8.1% this month making it up to $984,231. Condos are really in demand in this season. The median price for a condo increased by 81.2%, it’s now available for $1,064,778. The property value of townhouses increased by 13.2%, you’ll have to spend around $577,477 to get one.