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City Report · MA

Franklin

Pop. 33,154·59th most expensive in Massachusetts·Franklin rents are up 11.2% over the past year
Median rent (all units)
$2,747/mo
Year-over-Year
+11.2%
Month-over-Month
+4.4%
vs US Median
+$785
Rising (Monthly)
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Most AffordableMost Expensive
Franklin · $2,747
More expensive than 86% of US cities · National median $1,962/mo
Rent Reality Score
46/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Franklin's 10-year trend predicts.

Actual rent
$2,747/mo
Expected by trend
$2,698/mo
The Rent Reality Score compares today's median rent to where Franklin's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$2,000
1 BR
$2,140
2 BR
$2,550
3 BR
$3,080
4 BR+
$3,390
Fair Market Rent (HUD)
$2,550/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,747 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$32,964/yr
At $2,747/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 11.2% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+11.2% YoY, +4.4% MoM), not inventory.
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Demographics

Who lives here

Franklin, MA is majority owner-occupied, 58.1% of residents hold a bachelor's degree or higher.

Population
33,154
Median age
41.3
Renters
21.8%
Age distribution
21.1%
21.4%
28.1%
14.7%
14.7%
Under 1821.1%
18–3421.4%
35–5428.1%
55–6414.7%
65+14.7%
Gender
48.2%
51.8%
Male48.2%
Female51.8%
Race & ethnicity
83.9%
White83.9%
Black2.1%
Hispanic5.3%
Asian6.1%
Other2.6%
Education (25+)
16.4%
23.2%
58.1%
No HS diploma2.4%
HS diploma16.4%
Some college23.2%
Bachelor's+58.1%
Housing tenure
78.2%
21.8%
Owner78.2%
Renter21.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How Franklin, MA has changed in 5 years

Rent
$2,137 → $2,747
up 28.5%
Population
33,256 → 33,154
down 0.3%
Renter share
19.3% → 21.8%
+2.5 pts
Bachelor's+
55.7% → 58.1%
+2.4 pts

Rent in Franklin, MA has climbed 28.5% since 2022, going from about $2,137 per month to roughly $2,747 today. About 21.8% of households rent today, against 19.3% in 2019. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 55.7% to 58.1%. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

Discussions about Franklin

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View Franklin rent history (2015–2026) →
Salary vs rent

Can you afford rent in Franklin on your salary?

At $2,747/mo, how Franklin rent compares to typical pay (30% rule).

By apartment size

Franklin rent by bedroom count

Median rent for each apartment size in Franklin. Click any size for full breakdown.

Local insights

Tips for renters in Franklin

About renting in Franklin, MA

Last updated: August 17, 2026

The median rent in Franklin is $2,747/mo as of August 2026. A studio apartment averages $2,000/mo while a 2-bedroom runs $2,550/mo. One-bedroom apartments average $2,140/mo and 3-bedroom units go for $3,080/mo.

At 46% of estimated US median household income ($72,000/yr), Franklin ranks as moderate compared to the national benchmark of 30%. Rents have increased 11.2% over the past year.

FAQ

Frequently asked questions

Is Franklin an affordable city for renters?

Franklin is considered stretched for renters. At $2,747/mo, rent takes approximately 46% of the US median household income ($72,000/yr). The standard benchmark is 30%. Franklin significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Franklin?

To keep rent at or below 30% of gross income, you would need to earn at least $110,000/year (~$53/hour full-time) to afford the median rent of $2,747/mo in Franklin.

Is rent going up or down in Franklin?

Rent in Franklin has increased 11.2% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Franklin rent compare to other cities in Massachusetts?

Franklin is middle-of-the-pack for Massachusetts for rent, ranking #59 out of 112 tracked cities at $2,747/mo.

Which nearby cities are cheaper to rent in than Franklin?

Several nearby cities have lower median rents than Franklin ($2,747/mo): Woonsocket ($1,685/mo), Plainville ($2,111/mo), Cumberland ($2,230/mo).

What percentage of Franklin residents rent vs. own?

According to Census data, approximately 21.8% of Franklin households are renters, while 78.2% are owner-occupied. Franklin leans toward homeownership, which can mean a smaller rental inventory.

How does Franklin rent compare to the national average?

Franklin's median rent of $2,747/mo is $785 (40%) above the US national median of $1,962/mo. Within Massachusetts, it ranks #59 out of 112 tracked cities.
Income Affordability
46%
STRETCHED

At $2,747/mo, rent takes ~46% of US median household income ($72,000/yr). The standard benchmark is 30%.

Franklin 46%Benchmark 30%
State income tax5%
Run the Franklin affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Franklin, MA

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