Franklin, NC

City

Rent in Franklin

Median Gross Rent

$725

Rent-to-Income Ratio

24.4%

Renter Share

41.8%

Median Renter Income

$39,236

Avg Household Size

1.8

Median Rent by Bedrooms

Median monthly rent by number of bedrooms. Shows how rent scales with unit size in the area.

No Bedroom: $499
1 Bedroom: $677
2 Bedrooms: $780
3 Bedrooms: $950

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources

Gross Rent Distribution

How monthly rents are spread across the area. Helps you understand the typical rent range and where most units fall.

Under $1,000: 71.7%
$1,000-$1,500: 22.6%
$1,500-$2,000: 0.8%
$2,000-$2,500: 0.0%
$2,500+: 1.8%
No Cash Rent: 3.0%

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources

Rent Burden

Share of renters spending a given portion of their income on rent. Spending 30%+ is considered cost-burdened by HUD standards.

Under 20% (comfortable): 28.5%
20-30% (moderate): 33.9%
30-50% (cost-burdened): 19.7%
50%+ (severely cost-burdened): 14.9%
Not Computed: 3.0%

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources

Renters vs. Owners Median Income

Compares the median income of renter households to owner households in the same area.

Owner Households: $58,059
Renter Households: $39,236

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources

Contract Rent Distribution

Monthly rent before utilities. Compare with Gross Rent to estimate typical utility costs in the area.

Under $1,000: 83.8%
$1,000-$1,500: 11.7%
$1,500-$2,000: 0.8%
$2,000-$2,500: 0.0%
$2,500+: 0.6%
No Cash Rent: 3.0%

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources

Nearby Neighborhoods in Franklin

McClure Mill / Cozads Mill

Data: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2024·Sources