2026 Affordability Data
Most Affordable Neighborhoods in Franklin - 2026 Data
The median home value in Franklin is $574,000, 104% above nat'l avg. Median rent is $1,363/month. With an affordability index of 102, Franklin is more affordable than the national baseline of 100. We ranked 15 neighborhoods by affordability to help you find the best value in the Franklin, TN area.
Key Takeaways: Affordability in Franklin
- 1The most affordable neighborhood in Franklin is Memphis, with a median home value of $135,000.
- 2Franklin's median home value is $574,000, 104% above nat'l avg (national: $281,900).
- 3Franklin's affordability index is 102 (baseline 100), making it more affordable than the national average.
- 4Median rent in Franklin is $1,363/month, 17% above nat'l avg (national: $1,163/month).
- 5We analyzed 15 neighborhoods in Franklin to find the most affordable areas based on home values, rent, and affordability index.
Franklin Affordability Overview
Median Home Value
$574,000
104% above nat'l avg
Median Rent
$1,363/mo
17% above nat'l avg
Median Income
$106,592
43% above nat'l avg
Affordability Index
102
Near nat'l avg
Most Affordable Neighborhoods in Franklin (Ranked)
| Rank | Neighborhood | Median Home Value |
|---|---|---|
| 1 | MemphisTN | $135,000 |
| 2 | NashvilleTN | $365,000 |
| 3 | ClevelandTN | $225,700 |
| 4 | LewisburgTN | $161,700 |
| 5 | SmyrnaTN | $285,200 |
| 6 | ColliervilleTN | $409,000 |
| 7 | NolensvilleTN | $601,900 |
| 8 | BrownsvilleTN | $108,300 |
| 9 | AlcoaTN | $216,100 |
| 10 | ArlingtonTN | $338,900 |
| 11 | HendersonvilleTN | $364,700 |
| 12 | KingsportTN | $181,600 |
| 13 | Spring HillTN | $389,800 |
| 14 | AthensTN | $182,100 |
| 15 | JacksonTN | $169,300 |
Detailed Neighborhood Profiles
Home Value: $135,000
Rent: $1,416/mo
Affordability: 148
Population: 633,104
Walk Score: 89/100
Home Value: $365,000
Rent: $2,078/mo
Affordability: 125
Population: 689,447
Walk Score: 98/100
Home Value: $225,700
Rent: $1,363/mo
Affordability: 102
Population: 47,725
Walk Score: 0/100
4
Home Value: $161,700
Rent: $1,363/mo
Affordability: 102
Population: 12,376
Walk Score: 0/100
5
Home Value: $285,200
Rent: $1,363/mo
Affordability: 102
Population: 53,760
Walk Score: 0/100
6
Home Value: $409,000
Rent: $1,363/mo
Affordability: 102
Population: 51,170
Walk Score: 0/100
7
Home Value: $601,900
Rent: $1,363/mo
Affordability: 102
Population: 14,444
Walk Score: 0/100
8
Home Value: $108,300
Rent: $1,363/mo
Affordability: 102
Population: 9,739
Walk Score: 0/100
9
Home Value: $216,100
Rent: $1,363/mo
Affordability: 102
Population: 11,095
Walk Score: 0/100
10
Home Value: $338,900
Rent: $1,363/mo
Affordability: 102
Population: 14,342
Walk Score: 0/100
11
Home Value: $364,700
Rent: $1,363/mo
Affordability: 102
Population: 61,589
Walk Score: 0/100
12
Home Value: $181,600
Rent: $1,363/mo
Affordability: 102
Population: 55,415
Walk Score: 0/100
13
Home Value: $389,800
Rent: $1,363/mo
Affordability: 102
Population: 51,319
Walk Score: 0/100
14
Home Value: $182,100
Rent: $1,363/mo
Affordability: 102
Population: 14,091
Walk Score: 0/100
15
Home Value: $169,300
Rent: $1,363/mo
Affordability: 102
Population: 67,993
Walk Score: 0/100
Frequently Asked Questions About Affordability in Franklin
What is the most affordable neighborhood in Franklin, TN?▾
Based on 2026 data, Memphis is the most affordable neighborhood in Franklin with a median home value of $135,000. Kurby analyzed 15 neighborhoods in the Franklin area to compile these rankings.
What is the median home price in Franklin, TN?▾
The median home price in Franklin is $574,000, which is 104% above nat'l avg. The national median home value is $281,900 (Source: Kurby, 2026).
Is Franklin affordable compared to the national average?▾
Franklin has an affordability index of 102, which means housing is more affordable than the national baseline of 100. An index above 100 indicates that a median-income household can afford a median-priced home in the area.
What is the average rent in Franklin, TN?▾
The median monthly rent in Franklin is $1,363. This is 17% above nat'l avg. The national median rent is $1,163/month (Source: Kurby, 2026).
What is the median household income in Franklin?▾
The median household income in Franklin is $106,592 compared to the national median of $74,580. This metric is important for understanding housing affordability in relation to local earning power (Source: Kurby, 2026).
How many neighborhoods in Franklin are below the national average home price?▾
8 out of 15 ranked neighborhoods in Franklin have a median home value below the national average of $281,900. The most affordable is Memphis at $135,000 (Source: Kurby, 2026).