Franklin Town, Massachusetts Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Franklin Town, Massachusetts rental market.
Franklin Town, Massachusetts
Average Apartment Rent
$2,411
Y-o-Y Change in Average
Apartment Rent
-0.3%
As of July 2024
Compared to a year ago, Franklin Town, Massachusetts apartments have recorded a -0.3% rent decrease.
Franklin Town, Massachusetts Average apartment rent trend
Franklin Town, Massachusetts Average Apartment Rent
Franklin Town, Massachusetts Apartment rent ranges
At 84.51%, apartments priced Over $2,000 represent the bulk of Franklin Town, Massachusetts rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 15.49%.
Franklin Town, Massachusetts Housing tenure**
Renters take up 21% of Franklin Town, Massachusetts real estate, occupying a total of 2,527 units, while homeowners live in 9,604 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$62,171
Average household size of renter-occupied housing units**
1.84
Rental vacancy rate**
10.2%
Franklin Town, Massachusetts Renter-occupied housing units by no. of bedrooms**
There are 1,020 rentals in Franklin Town, Massachusetts with 1 bed making up the highest share of the market, at 40%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 20 units. Overall, the median number of rooms in Franklin Town, Massachusetts homes for rent is 3.8.
Franklin Town, Massachusetts Renter-occupied units by age of householder**
Most condos for rent in Franklin Town, Massachusetts are occupied by residents in the 35 - 44 years age group (23%), followed by those in the 45 - 54 years age group (17%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Franklin Town, Massachusetts Renter-occupied housing units by family type**
Franklin Town, Massachusetts Renter-occupied housing units by the presence of own children**
A total of 992 apartments for rent in Franklin Town, Massachusetts, or 39% of all rentals are family households. Additionally, 18% of rental homes include children under the age of 18 – that’s 454 units. All in all, the median size of a renter-occupied household in Franklin Town, Massachusetts is 1.84.
Franklin Town, Massachusetts Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 32% of the rental market. In contrast, residents with less than a high school degree reside in 4% of the homes for rent in Franklin Town, Massachusetts.
Franklin Town, Massachusetts Renter-occupied units by year structure built**
The highest share of Franklin Town, Massachusetts apartment rentals, namely 21% or 541 units, were Built 2010 - 2019, followed by those Built 1939 or earlier (16%, 405 units), and the ones Built 1980 - 1989 (16%, 395 units).
Franklin Town, Massachusetts Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Franklin Town, Massachusetts renters (49%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Franklin Town, Massachusetts condos for rent is 2018.
Franklin Town, Massachusetts Renter-occupied housing units by vehicles available**
When it comes to transportation options, 53% of Franklin Town, Massachusetts renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 14% have No vehicle available.
Franklin Town, Massachusetts Means of transportation to work of householders living in renter-occupied housing units**
Franklin Town, Massachusetts Geographical mobility in the past year for householders living in renter-occupied housing units**
Franklin Town, Massachusetts Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Franklin Town, Massachusetts apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
