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Franklin, MI
Full City Profile · Michigan · Oakland County County
3.9
/5.0
B+
Good
2,610
Population
981/sq mi density
$176,571
Median Income
$123,132 per capita
$696,700
Home Value
$867,371 Zillow
$3,175
Median Rent
26.9% income on rent
49°F
Avg Temperature
260 sunny days/yr
61
Violent Crime/100K
1,102 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$176,571 median income, 1.2% unemployment
A
Affordability
4.5 / 5.0
$696,700 home value, $3,175/mo rent
F
Safety
1.0 / 5.0
61 violent crimes/100K
A+
Education
5.0 / 5.0
80.3% bachelor's degree or higher
Housing Overview
Median Home Value
$696,700
147% above
US avg: $281,900
Median Rent
$3,175/mo
173% above
US avg: $1,163/mo
Homeownership Rate
94.9%
45% above US avg (65.4%)
Total Housing Units
1,057
Median year built: 1958
Home Value by Source
Census Median
$696,700
Zillow (ZHVI)
$867,371
Median Sale Price
$1,312,500
Median List Price
$1,362,450
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
94.9%
Owner-Occupied
5.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$3,175/mo
Market Indicators (Redfin)
Median Days on Market
42 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
2
Price Drops
40.0%
of listings with price reduction
Price Per Sq Ft
$278
Active Inventory
5
homes for sale
Affordability & Housing Stock
Rent Burden
26.9%
of renters spending 30%+ of income on housing
13% below US avg (31.0%)
Median Year Built
1958
Average age of housing stock: 68 years
Homeownership Rate
94.9%
Complete Housing Data
Home Values
| Census Median Value | $696,700 |
| Zillow Home Value (ZHVI) | $867,371 |
| Median Sale Price | $1,312,500 |
| Median List Price | $1,362,450 |
| Price Per Sq Ft | $278 |
Rent
| Census Median Rent | $3,175 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
| Days on Market | 42 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 40.0% |
| Homes Sold | 2 |
| Active Inventory | 5 |
| Price Per Sq Ft | $278 |
Ownership & Stock
| Owner-Occupied | 94.9% |
| Renter-Occupied | 5.1% |
| Homeownership Rate | 94.9% |
| Total Housing Units | 1,057 |
| Median Year Built | 1958 |
| Rent Burden | 26.9% |