Franklin, KY Housing Market
AI-powered market intelligence for the Franklin, KY metro area.
PropertyIQ Scores
Franklin, KY Market Analysis
Market Overview
Franklin, KY presents a moderate housing market, with a PropertyIQ Score of 58 out of 100. The score is most influenced by a median days on market of 67 days and a share of listings with a price cut of 15.4%. These drivers point to a market that is moving at a measured pace rather than one characterized by rapid turnover or aggressive price escalation. Franklin’s median home value of $317,000 is significantly above the state average of $232,577, a difference of about $84,423. The rent index of $1,012 also runs above the state average of $967, while the unemployment rate of 4.7% matches the state benchmark exactly.
The affordability picture is more mixed. Franklin’s median household income of $59,858 is below the state average of $63,726 by about $3,868. That means local incomes are not keeping pace with home values that are well above the state level. There are 132 homes for sale, and the year-over-year home value change is just $6, which is effectively flat. Population growth data is not available, so the market cannot be evaluated for migration-driven demand. Taken together, the data supports a moderate market rather than a strong one.
Key Trends
One clear trend is price stability at a high level. The median home value is $317,000, far above the state average of $232,577, but the year-over-year home value change is only $6. That suggests home prices are not currently experiencing meaningful upward momentum.
A second trend is a softer sales environment. The median days on market is 67 days, and 15.4% of listings have had a price cut. With 132 homes for sale, these figures indicate that buyers have some time to evaluate options and that sellers are using price adjustments to attract offers. This is not a severe buyer’s market, but it is not a fast-moving seller’s market either.
A third trend is an affordability gap. Franklin’s median home value is well above the state average, while median household income is below the state average. The rent index of $1,012 is higher than the state average of $967, which may reflect some demand for rental housing as high purchase prices push ownership out of reach for some local households.
A fourth trend is labor market stability. Franklin’s unemployment rate of 4.7% matches the state average exactly, meaning the area does not show relative employment weakness. That stability may support housing demand, but it has not translated into strong home price growth.
Who Is This Market For
This market is best suited to buyers who already have housing equity or a strong down payment. With a median home value of $317,000 and a median household income of $59,858, first-time buyers may find the math challenging. Move-up buyers who can sell an existing home may be better positioned. Investors may see some opportunity in the rental market, since the rent index of $1,012 is above the state average of $967, but they should note the flat year-over-year home value change of $6 and the 15.4% price-cut share. Those factors suggest investors should focus on cash flow and long holding periods rather than short-term appreciation. Buyers looking for rapid price gains are not well supported by the current data.
Outlook
Franklin’s near-term outlook is stable to moderately soft. The $6 year-over-year home value change, the median days on market of 67 days, and the 15.4% share of listings with a price cut all point to limited upward price pressure. The unemployment rate of 4.7% matching the state average provides some economic stability, but the gap between the $317,000 median home value and the $59,858 median household income is likely to keep demand measured. Population growth is not available, so there is no documented migration tailwind in the data. Current metrics support a market where sellers may need to remain flexible on price and time on market.
AI-generated analysis based on current market data. Last updated October 3, 2026.
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Franklin, KY market data
Franklin, KY Housing Market Overview
Franklin, KY's median home value is $196K. Homes here sell in a median 67 days. Its PropertyIQ Score of 58 sits right around the state average of 50.
Whether you're considering buying a home, investing in rental property, or weighing entry timing in the Franklin, KY area, the PropertyIQ Score gives you a single, data-first read on relative market strength. It is validated against actual market outcomes from 2001 to 2023, with a positive score-to-return relationship in every validated year across KY and every other US state.
Southeastern markets benefit from manufacturing investment, logistics infrastructure, and relative affordability compared to national averages. The region's population growth — driven by both domestic migration and natural increase — supports sustained housing demand across metro and suburban areas. Within the Southeast, Franklin, KY's PropertyIQ Score of 58 tracks near the Southeast norm.
The PropertyIQ Score for the Franklin, KY market is built from four inputs: Zillow home-value momentum over twelve months, Zillow home-value momentum over three months, the median days listings spend on the market (Realtor.com), and the share of listings with a price cut (Realtor.com). The score runs on a 1 to 99 scale computed across all metro markets nationally and calibrated so 50 equals the state average — a score above 50 means this market is positioned to outperform its state, and a score below 50 means it is set to lag.
Use PropertyIQ's interactive analytics to compare Franklin, KY against any other US metro on its PropertyIQ Score and underlying metrics. Generate a free AI market report, explore historical trends on the graphs page, or see how this market ranks on the scores dashboard.
Counties in the Franklin, KY metro area
Market data through August 2026. Sourced from Zillow, Realtor.com, Redfin, U.S. Census Bureau, FRED, BLS, and BEA. Per-statistic source and date shown above.
Frequently Asked Questions
Is Franklin, KY a good place to buy real estate in 2026?
PropertyIQ doesn't label markets simply good or bad. Instead, the PropertyIQ Score measures a market's demand momentum against its own state, where 50 marks the state average. Franklin, KY currently scores 58, a steady-momentum reading that leaves it tracking close to its state average. For buyers, a balanced market means neither side holds a decisive edge, giving you time to shop carefully without racing the clock. Backing that up, the median home value here is $196K. So whether Franklin, KY is right for you comes down to your goals: a rising-momentum market can favor long-term appreciation but offers less room to negotiate, while a cooling one hands buyers more leverage. Treat the score as a timing signal to weigh alongside your budget, holding period, and plans for the property, not a verdict on the market's quality.
What is the PropertyIQ Score for Franklin, KY?
Franklin, KY's PropertyIQ Score is 58, indicating steady momentum on a 1-to-99 scale. The score distills four transparent inputs into a single number: Zillow home-value momentum over the past 12 months, Zillow home-value momentum over the past 3 months, the median days homes spend on the market from Realtor.com, and the share of listings with a price cut, also from Realtor.com. Rising values and faster sales push the score up, while slow sales and frequent price cuts pull it down. The scale is calibrated so 50 equals the state average, meaning a score above 50 predicts the market will outperform its state over the next three years and a score below 50 predicts underperformance. PropertyIQ computes the score across every US market nationally, then recenters it against each state, so 58 places Franklin, KY above its state benchmark.
How quickly do homes sell in Franklin, KY?
In Franklin, KY, homes sell in a median of 67 days from listing to pending sale, based on Realtor.com market data. Median days on market is one of the clearest real-time reads on local demand: when homes move quickly, buyers are competing and sellers hold the advantage, while lengthening timelines signal cooling interest and more room to negotiate. Alongside sale speed, about 15% of active listings here have taken at least one price cut — a complementary demand gauge, since a rising share of reductions often precedes slower sales and softer prices. Both median days on market and the price-cut share feed directly into the PropertyIQ Score, where faster sales and fewer cuts push the score higher. As a general guide, medians under about 30 days indicate a brisk, competitive market, while medians well beyond 60 days point to buyers regaining leverage. Actual time on market still varies by price band, property type, and season, so treat the median as a market-wide baseline.
How current is this metro area data?
This Franklin, KY market data is refreshed on a monthly cycle, with the latest figures current through August 2026. PropertyIQ ingests fresh data every month from a range of authoritative sources: home values and rents from Zillow, days on market and price-cut activity from Realtor.com, additional housing signals from Redfin, demographic and housing-stock data from the U.S. Census Bureau, mortgage and macroeconomic series from FRED, and employment figures from the Bureau of Labor Statistics and the Bureau of Economic Analysis. The PropertyIQ Score itself is recomputed every month once the new source data lands, so the score and its four underlying inputs always reflect the most recent complete reporting period rather than a static snapshot. Because official housing data is typically released with a short lag, the current-through date usually trails the present by a few weeks, which is normal across the industry and not a sign the data is out of date.