Franklin Town Massachusetts Area Home Supply Charts

This page looks at a variety of Franklin Town Massachusetts housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Franklin Town depicts it has a Housing Units of 12,506 which is the second most housing units of all the places in the greater Franklin Town region.

Figure 2 illustrates the housing density in the Franklin Town housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Franklin Town shows it has a Housing Density of 469.6 which is the second smallest as measured by housing density of all the other places in the local area. The city with the highest housing density in the area is Woonsocket which depicts a density of 2450.9 ( appreciably bigger). Comparing housing density to the United States average of 39.5, Franklin Town is markedly bigger. Also, measured against the state of Massachusetts, housing density of 382.0, Franklin Town is 22.9% larger.

In Figure 4, Franklin Town area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Franklin Town depicts it has a Housing Unit Change of 9.8% which is at the top of all other places in the greater Franklin Town region. Comparing change in the housing units to the United States average of 7.4%, Franklin Town is 32.1% larger. Also, versus the state of Massachusetts, change in the housing units of 6.1%, Franklin Town is 59.9% larger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Franklin Town depicts it has a Renter Percent of 20.0% which is the second smallest when sorted by renter percent of all the other places in the metropolitan area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 80.0% which is the second most of all the places in the greater region.

Franklin Town Massachusetts Home Cost Charts

Looking at the housing data provided in Figure 7, the average Franklin Town home price is illustrated for this community and a useful analysis of affordable housing. Franklin Town shows it has a Median Home Value of $450,800 which is the most of all places in the greater Franklin Town region. Figure 8 provides aggregate comparative data for the Franklin Town Massachusetts metro area in terms of the median housing rental rate, apartment rent, etc. Franklin Town shows it has a Median Gross Rent of $1,519 which is the third most rental rates of all other places in the greater Franklin Town region. The city with the highest rental rates in the area is Millis-Clicquot CDP which indicates a rental rates of $1,803 (18.7% larger). Comparing rental rates to the United States average of $1,163, Franklin Town is 30.6% larger. Also, benchmarked against the state of Massachusetts, rental rates of $1,429, Franklin Town is 6.3% larger.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Franklin Town has the smallest proportion of home price worth between $50,000 to $100,000 at 3% of the total. Second, it has the smallest proportion of home price worth between $100,000 to $200,000 at 7% of the total. Third, it has the largest proportion of home price worth between $400,000 to $500,000 at 31% of the total and is ranked #1. Also, it has the largest proportion of home price worth between $500,000 to $750,000 at 5% of the total and is ranked #1.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Franklin Town indicates it has a Median Owner Cost of $2,228 which is the highest of all places in the greater Franklin Town region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Franklin Town metro area. it has a Owner Cost as % of HH Income of 19% which is less than most other places in the metro area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Franklin Town shows it has a Median Home Value as Percent of Median Earnings of 509% which is the third most median home value as a percent of median worker earnings of all other places in the greater Franklin Town region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Franklin Town indicates it has a Median Owner Costs-With Mortgage of $2,564 which is the largest of all places in the metro area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $989 which is the second most median housing cost of all the places in the greater Franklin Town region.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Franklin Town has the percentage of owner cost less than $300 in the middle range of other places in the surrounding region at 0% of the total. Second, it has less than most other places in the greater region as measured by owner cost between $300 and $500 at 3% of the total. Third, it has the smallest proportion of owner cost between $1,000 and $1,500 at 11% of the total. Also, it has the largest proportion of owner cost between $1,500 and $2,000 at 18% of the total and is ranked #1. In addition, it has the largest proportion of owner cost between $3,500 and $4,000 at 7% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Franklin Town depicts it has a % of Income Owner Costs-With Mortgage of 20% which is less than most other places in the surrounding region. The city with the highest cost as a percent of household income in the area is Bellingham CDP which shows a cost as a percent of household income of 25% (20.0% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Franklin Town depicts it has a % of Income Owner Costs-No Mortgage of 13% which is less than most other places in the local area. The city with the highest cost as a percent of household income in the area is Milford CDP which shows a cost as a percent of household income of 16% (31.0% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Franklin Town has one of the largest proportions of rent as a percent of income is less than 10 pct at 22% of the total and is ranked #2. The only larger city being Milford CDP with 28%. Second, it has the largest proportion of rent as a percent of income is between 10pct to 20pct at 28% of the total and is ranked #1. Third, it has the smallest proportion of rent as a percent of income is between 20pct to 30pct at 12% of the total. Also, it has less than most other places in the metro area when sorted by rent as a percent of income is between 40pct to 50pct at 25% of the total.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Franklin Town has the largest proportion of housing cost between $2,500 and $3,000 at 19% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $6,042 which is the second most of all the places in the local area. The city with the highest median real estate taxes paid in the area is Millis-Clicquot CDP which shows a taxes paid of $6,915 (14.4% larger). Comparing median real estate taxes paid to the United States average of $2,690, Franklin Town is approximately 2.2 times bigger. Also, compared to the state of Massachusetts, median real estate taxes paid of $5,091, Franklin Town is 18.7% larger.

Figure 22 shows the percentage of renters who pay for utilities in Franklin Town Massachusetts. This is calculated as the percent of renters who pay separately for utilities versus the people who have utilities included as part of amenities. Franklin Town has the smallest proportion of pay extra for utilities at 16% of the total.

Figure 23 shows the rental rate distribution for this area. Franklin Town Massachusetts has the largest proportion of rent between $2,500 and $3,500 at 2% of the total and is ranked #1.

Franklin Town Massachusetts Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Franklin Town has the smallest proportion of With HELOC no Primary Mortgage at 25% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Franklin Town has the smallest proportion of houses with mortgages at 25% of the total.

Franklin Town Massachusetts Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.1 which is the second smallest when ranked by family members per housing unit of all the other places in the local area. The city with the highest family members per housing unit in the area is Hopedale CDP which depicts a family members per housing unit of 3.4 (8.2% larger). Comparing family members per housing unit to the United States average of 3.3, Franklin Town is only about 5.1% smaller. Also, compared to the state of Massachusetts, family members per housing unit of 3.2, Franklin Town is about the same size.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 6.6 which is more than all other places in the greater Franklin Town region. Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1985 which is at the top of all other places in the greater Franklin Town region.

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has one of the largest proportions of homes built in 2020 or later at 8% of the total and is ranked #2. The only larger city being Bellingham CDP with 12%. Second, it has one of the largest proportions of homes built between 2010 to 2019 at 10% of the total and is ranked #2. The only larger city being Bellingham CDP with 12%. Third, it has the largest proportion of homes built between 2000 to 2009 at 22% of the total and is ranked #1. Also, it has the second smallest as measured by homes built in 2020 or later of all the other places in the local area in terms of homes built between 1980 to 1989 at 7% of the total. In addition, it has the second smallest in order of homes built in 2020 or later of all the other places in the greater region in order of homes built between 1960 to 1969 at 7% of the total. Furthermore, it has less than most other places in the metropolitan area when sorted by homes built between 1940 to 1949 at 13% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 2,425 of the total and is ranked #3. Only #2 Milford CDP (3,360), and #1 Woonsocket (10,549) are larger.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2020 or later at $477,100 of the total and is ranked #1. Second, it has the largest proportion of value of homes built 2010 to 2019 at $552,200 of the total and is ranked #1. Third, it has the largest proportion of value of homes built 2000 to 2009 at $570,400 of the total and is ranked #1. Also, it has one of the largest proportions of value of homes built 1990 to 1999 at $390,800 of the total and is ranked #2. The only larger city being Hopedale CDP with $403,200. In addition, it has one of the largest proportions of value of homes built 1980 to 1989 at $414,000 of the total and is ranked #3. Only #2 Millis-Clicquot CDP ($415,700), and #1 Bellingham CDP ($419,000) are larger. Furthermore, it has the largest proportion of value of homes built 1970 to 1979 at $421,000 of the total and is ranked #1. Next it has one of the largest proportions of value of homes built 1960 to 1969 at $395,400 of the total and is ranked #2. The only larger city being Millis-Clicquot CDP with $434,600. Additionally, it has the largest proportion of value of homes built 1950 to 1959 at $374,100 of the total and is ranked #1. And then, it has the largest proportion of value of homes built 1940 to 1949 at $384,300 of the total and is ranked #1.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Franklin Town residents. it has a Owner-Household Size of 2.8 which is the third most homeowner household size of all other places in the greater Franklin Town region. The city with the highest homeowner household size in the area is Hopedale CDP which depicts a homeowner household size of 3.0 (7.8% larger).

Figure 37 shows the household size for renters. Franklin Town depicts it has a Renter-Household Size of 1.9 which is less than most other places in the metro area. The city with the highest renter household size in the area is Milford CDP which depicts a renter household sizes of 2.5 (34.8% larger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 19% of the total and is ranked #3. Only #2 Milford CDP (20%), and #1 Hopedale CDP (28%) are larger. Second, it has the smallest proportion of owners moved in 1990 to 1999 at 10% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2006 which is the largest of all places in the greater Franklin Town region. Figure 41 compares the median year that renters moved into their home. Franklin Town shows it has a Renter Median Year Moved In of 2017 which is the highest of all places in the greater Franklin Town region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the percentage of home using electricity less than most other places in the metropolitan area at 19% of the total. Second, it has less than most other places in the local area when ranked by homes using solar energy at 0% of the total.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Franklin Town housing department, Massachusetts department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Franklin Town shows it has a Total In Group Quarters of 1,161 which is more than all other places in the greater Franklin Town region.