Franklin, MI Real Estate
According to census data in the year 2000 there were 1,118 housing units in Franklin.
This represents a 10.7% growth from 1,010 in 1990.
Of those housing units, 1,118 were located in either urbanized areas or urban clusters, and none were located in what is classified as a rural area.
Homeownership rate in Franklin is about 97.1%.
Franklin's vacancy rate, including seasonal lodging, is about 4%.
Average household size is 2.73 people.
The majority of houses, apartments or condos in Franklin were built after 1959.
|Housing Units by Size|
|Five Bedrooms or more||8.20%|
Owned Homes, Apartments and Condos
|Average Household Size||2.72|
|Median year structure was built||1959|
|Median Value of occupied units||$414,400|
|Median Price asked for vacant units||$372,200|
Rented Homes, Apartments and Condos
|Average Household Size||2.94|
|Median year structure was built||1960|
|Median Monthly Rent asked for vacant units||$2,001|
Owners Finance Status
|Second Mortgage & Equity Loan||0.90%|
|Home Equity Loan||9.70%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||17.1%|