New Listing
39
$635,000
118 Carters Glen Pl
Franklin, TN 37064
3 bd2 ba1,505 sqft$422/ft²
House40,946 sqft lot
Jenny Fann · Simple Real Estate - Keller Williams
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Franklin, TN Housing Market
Balanced market+3.4% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Franklin, TN is worth $925,870, rose 3.4% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $860,000 (through May 2026). With 3.3 months of supply and homes going under contract in about 43 days, Franklin is a balanced market. At today's 7.03% 30-year fixed rate, 20% down on a $925,870 home is about $4,943/mo in principal and interest.
Key numbers for Franklin, TN
Typical home value
$925,870
+3.4% in 12 months
Zillow, August 2026
Typical asking rent
$2,074/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$860,000
Last published period
Redfin, through May 2026
Days on market
43
Average pace
Redfin, through May 2026
Active listings
533
3.3 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$115,000
Home costs 8.1x income
U.S. Census ACS, 2023
Sale-to-list ratio
98.3%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Franklin a buyer's or seller's market?
Balanced market3.3 months of supply43 days on market98.3% of asking
Franklin, TN is a balanced market, based on 3.3 months of supply and homes selling in about 43 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Franklin housing market data show?
Every row below is Redfin's final published month for Franklin, TN. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $860,000 |
| Median list price | $883,450 |
| Median price per sq ft | $338/sq ft |
| Median days on market | 43 days |
| Active inventory | 533 listings |
| Months of supply | 3.3 months |
| Sale-to-list price ratio | 98.3% |
| Homes sold (that month) | 162 |
| New listings (that month) | 204 |
| Listings with a price cut | 21.4% |
| Market condition | Balanced market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Franklin is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Franklin is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Franklin home prices moved?
Over the last three years the median sale price in Franklin, TN rose 13.5%, from $757,500 to $860,000. The live Zillow value series has rose 3.4% in the last 12 months, which is the more current read now that Redfin's series has stopped. 21.4% of Franklin listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 3.3 months while the sale-to-list ratio slips below its current 98.3%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Franklin?
Priced off the typical home value of $925,870 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $185,174 | $740,696 | $4,943/mo |
| 5% | $46,293 | $879,576 | $5,870/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $4,943, that implies roughly $211,834 a year before you add taxes and insurance. The median household in Franklin earns $115,000, about $96,834 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 8.1x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Franklin in the next 12 months?
Tell us your timeline. We send the Franklin market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Franklin?
Typical asking rent in Franklin, TN is $2,074/mo, against a typical home value of $925,870. That is a price-to-rent ratio of 37.2x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $4,943 a month — $2,869 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Franklin?
Active listings in Franklin, TN went from 512 in May 2025 to 533 in May 2026, a +4.1% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 539 | 204 |
| July 2025 | 513 | 152 |
| August 2025 | 469 | 158 |
| September 2025 | 482 | 143 |
| October 2025 | 491 | 152 |
| November 2025 | 428 | 85 |
| December 2025 | 366 | 63 |
| January 2026 | 346 | 108 |
| February 2026 | 377 | 138 |
| March 2026 | 444 | 185 |
| April 2026 | 529 | 244 |
| May 2026 | 533 | 204 |
Redfin, through May 2026
How does Franklin compare to Tennessee and the U.S.?
Franklin homes sell for $860,000 — 108% above the Tennessee median of $413,200. Against the national median of $410,700, Franklin runs 109% higher.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Franklin, TN | $860,000 | not published | 43 days |
| Tennessee statewide | $413,200 | +3.0% | 61 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Franklin
What buyers should watch
- Months of supply, currently 3.3. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 21.4%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $927 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $925,870 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Franklin listing goes under contract in 43 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 98.3% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Franklin added 204 new listings against 162 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +3.4% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Franklin varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Franklin
There are currently 533 homes listed for sale in Franklin, Tennessee. The median listing price is $883K. Featured listings range from $635,000 to $3,150,000.
New Build
$845,622
2050 Riley Park Dr
Franklin, TN 37064
5 bd4 ba3,140 sqft$269/ft²
House
View photos & details
New Listing
5
$849,000
111 Poplar St
Franklin, TN 37064
4 bd2 ba2,200 sqft$386/ft²
House1.00 acres
James Fuertes · Realty One Group Music City
View photos & details
New Listing
52
$880,000
3056 Westerly Dr
Franklin, TN 37067
5 bd4 ba3,784 sqft$233/ft²
House9,148 sqft lot
Rachel Wang · eXp Realty
View photos & details
New Build
9
$939,900
228 Equine St
Franklin, TN 37064
3 bd4 ba2,526 sqft$372/ft²
Townhouse
Katie Tomberlin · Ford Homes Realty
View photos & details
New Build
9
$1,059,710
232 Equine St
Franklin, TN 37064
3 bd4 ba2,594 sqft$409/ft²
Townhouse
Katie Tomberlin · Ford Homes Realty
View photos & details
New Build
9
$1,059,835
224 Equine St
Franklin, TN 37064
3 bd4 ba2,625 sqft$404/ft²
Townhouse
Katie Tomberlin · Ford Homes Realty
View photos & details
New Listing
$1,200,000
283 Noah Dr
Franklin, TN 37064
4 bd4 ba4,036 sqft$297/ft²
House9,583 sqft lot
Dana Rector · Keller Williams Realty
View photos & details
New Listing
67
$1,460,000
7224 Murrel Dr
Franklin, TN 37064
4 bd5 ba4,127 sqft$354/ft²
House14,375 sqft lot
Jennifer Gramling · Compass RE
View photos & details
New Listing
63
$2,499,000
2007 Kathryn Ave
Franklin, TN 37064
5 bd6 ba4,323 sqft$578/ft²
House7,841 sqft lot
Nicki Johnson · Compass
View photos & details
New Listing
63
$2,500,000
4073 New Highway 96 W
Franklin, TN 37064
4 bd4 ba4,148 sqft$603/ft²
House12.29 acres
Cindy Garvey · United Country Real Estate Leipers Fork
View photos & details
New Listing
$3,150,000
110 Poplar St
Franklin, TN 37064
5 bd6 ba7,337 sqft$429/ft²
House1.15 acres
James Fuertes · Realty One Group Music City
View photos & details
Looking to buy in Franklin?
Get connected with a local real estate expert — free, no obligation.
Active listings
533
Homes on market
Median list price
$883K
Avg. days on market
43
Days until sale
New this week
204
Newly listed
Price drops:21.4%of listings
Sale-to-list:98.3%
How much do homes cost in Franklin by property type?
How the Franklin, TN market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $985,000 | $341/sq ft | 121 | 40 days |
| Condo / co-op | $554,000 | $339/sq ft | 12 | 53 days |
| Townhouse | $650,000 | $332/sq ft | 29 | 54 days |
Who lives in Franklin?
American Community Survey estimates for Franklin. U.S. Census ACS, 2023
Population
85,575
Households
33,158
Median income
$115,000/yr
Median age
37.8 years
Owner-occupied
64.3%
Median home value
$646,300
Median gross rent
$1,861/mo
Mean commute
24.5 min
64.3% of occupied homes in Franklin are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $646,300 against Zillow's $925,870 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,861/mo, below Zillow's $2,074/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Franklin?
25 schools tracked · 16,156 students
The largest public schools serving Franklin, TN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Franklin High School
Grades 9-12 · 1,743 students
Centennial High School
Grades 9-12 · 1,389 students
Fred J Page High School
Grades 9-12 · 1,356 students
Fred J Page Middle School
Grades 6-8 · 1,308 students
Grassland Middle School
Grades 6-8 · 831 students
Creekside Elementary School
Grades K-5 · 792 students
Trinity Elementary
Grades PK-5 · 765 students
Clovercroft Elementary School
Grades K-5 · 680 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Franklin, TN?
Ordered by distance from Franklin, not by size. Compare Franklin side by side with any of them.
Which ZIP codes are in Franklin?
These are the ZIP codes we see on active Franklin listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Franklin housing market FAQ
Is Franklin a buyer's or seller's market?
Franklin, TN is currently a balanced market. That read comes from 3.3 months of supply, homes going under contract in about 43 days, and sellers getting 98.3% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Franklin?
The typical home in Franklin, TN is worth $925,870 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $860,000, about $338 per square foot.
Is Franklin cheaper than the rest of Tennessee?
Franklin's median sale price of $860,000 is 108% higher than the Tennessee statewide median of $413,200, and 109% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Franklin?
Homes in Franklin, TN spent a median of 43 days on market before going under contract, versus 61 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Franklin?
At the current 30-year fixed rate of 7.03%, 20% down on a $925,870 home is about $4,943 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $211,834 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $115,000.
Are home prices rising in Franklin?
The typical home value in Franklin, TN rose 3.4% over the last 12 months, from $895,597 to $925,870 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Franklin?
Franklin ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Franklin?
That depends on your timeline, not on a headline. What the data says today: Franklin, TN is a balanced market with 3.3 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 37.2x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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