Rents are 4% below what Franklin's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,534 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 →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Franklin usually run 2.2% below trend in February and 2.4% above it in July, about $117 a month apart at today's median. Based on 5 years of data.
Rent in Franklin is at its highest level since Zillow's records here began in June 2021.
Rent in Franklin changed +4.0% over the year to September 2026. Across the 89 Massachusetts cities Zillow tracks, the typical change was +2.8%.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
Plainville, 6 miles away, rents for 10% less ($2,273/mo), about $3,100 a year in savings.
From Zillow's monthly rent index (ZORI) for Franklin. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series.
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Who lives here
Franklin, MA is majority owner-occupied, 58.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Franklin, MA has changed in 5 years
Rent in Franklin, MA has climbed 19.7% since 2022, going from about $2,117 per month to roughly $2,534 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.
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At $2,534/mo, how Franklin rent compares to typical pay (30% rule).
Franklin rent by bedroom count
Median rent for each apartment size in Franklin. Click any size for full breakdown.
Tips for renters in Franklin
Last updated: October 17, 2026
The median rent in Franklin is $2,534/mo as of October 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 42% of estimated US median household income ($72,000/yr), Franklin ranks as moderate compared to the national benchmark of 30%. Rents have increased 4.0% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Franklin?
At $2,534/mo, rent takes ~42% of US median household income ($72,000/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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