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Franklin, IL
Full City Profile · Illinois · Morgan County County
3.6
/5.0
B+
Good
554
Population
667/sq mi density
$66,250
Median Income
$46,316 per capita
$103,300
Home Value
$140,164 Zillow
$915
Median Rent
19.3% income on rent
53°F
Avg Temperature
302 sunny days/yr
B+
Overall
3.6 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.1 / 5.0
$66,250 median income, 1.4% unemployment
A+
Affordability
5.0 / 5.0
$103,300 home value, $915/mo rent
C+
Safety
2.5 / 5.0
0 violent crimes/100K
C+
Education
2.9 / 5.0
23.4% bachelor's degree or higher
Housing Overview
Median Home Value
$103,300
63% below
US avg: $281,900
Median Rent
$915/mo
21% below
US avg: $1,163/mo
Homeownership Rate
68.8%
5% above US avg (65.4%)
Total Housing Units
265
Median year built: 1959
Home Value by Source
Census Median
$103,300
Zillow (ZHVI)
$140,164
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
68.8%
Owner-Occupied
31.2%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$632/mo
1 Bedroom
$698/mo
2 Bedroom
$916/mo
3 Bedroom
$1,181/mo
4 Bedroom
$1,329/mo
Census median rent:
$915/mo
Affordability & Housing Stock
Rent Burden
19.3%
of renters spending 30%+ of income on housing
38% below US avg (31.0%)
Median Year Built
1959
Average age of housing stock: 67 years
Homeownership Rate
68.8%
Complete Housing Data
Home Values
| Census Median Value | $103,300 |
| Zillow Home Value (ZHVI) | $140,164 |
Rent
| Census Median Rent | $915 |
| FMR Studio | $632 |
| FMR 1-Bedroom | $698 |
| FMR 2-Bedroom | $916 |
| FMR 3-Bedroom | $1,181 |
| FMR 4-Bedroom | $1,329 |
Market
Ownership & Stock
| Owner-Occupied | 68.8% |
| Renter-Occupied | 31.2% |
| Homeownership Rate | 68.8% |
| Total Housing Units | 265 |
| Median Year Built | 1959 |
| Rent Burden | 19.3% |