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 Size

Housing Units by Size
Studio Type0%
One Bedroom0.40%
Two Bedrooms7.10%
Three Bedrooms42.50%
Four Bedrooms41.90%
Five Bedrooms or more8.20%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.72
Median year structure was built1959
Median Value of occupied units$414,400
Median Price asked for vacant units$372,200

Rented Homes, Apartments and Condos

Average Household Size2.94
Median year structure was built1960
Median Monthly Rent asked for vacant units$2,001

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.90%
Second Mortgage2.80%
Home Equity Loan9.70%
Simple Mortgage60.40%
Debt Free26.30%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs17.1%