How much does it cost to rent in Franklin, TN?

As of July 2026, the median monthly rent in Franklin, TN is $2,132. This figure is based on aggregated data from public sources and community-submitted rents.

Is Franklin cheaper than other Tennessee cities?

Franklin is one of the pricier cities in Tennessee, ranking #7 out of 65 cities tracked at $2,132/mo.

When was Franklin rent data last updated?

Franklin rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · TN

Franklin

Name: Average Rent Prices in Franklin, TN
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 87,133·7th most expensive in Tennessee·Rental market data updated monthly for Franklin, TN

Median rent (all units)

$2,132/mo

Year-over-Year

+5.0%

Month-over-Month

+0.7%

vs US Median

+$167

Rising (Monthly)

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Most AffordableMost Expensive

Franklin · $2,132

More expensive than 66% of US cities · National median $1,965/mo

Rent Reality Score

58/100

Fairly priced

OverheatedFairGreat value

Rents are 4% below what Franklin's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$2,132/mo

Expected by trend

$2,224/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

$1,702

1 BR

$1,767

2 BR

$1,959

3 BR

$2,474

4 BR+

$3,043

Research median

$1,959/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$25,584/yr

At $2,132/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.0% YoY, +0.7% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Franklin, TN is majority owner-occupied, has a median income above the national average, 64.5% of residents hold a bachelor's degree or higher.

Population

87,133

Median income

$119,528

Median age

38.6

Renters

36.2%

Age distribution

23.4%

20.6%

29.7%

14.7%

Under 1823.4%

18–3420.6%

35–5429.7%

55–6411.6%

65+14.7%

Gender

48.8%

51.2%

Male48.8%

Female51.2%

Race & ethnicity

75.7%

White75.7%

Black5.3%

Hispanic8.1%

Asian8.2%

Other2.7%

Education (25+)

19.5%

64.5%

No HS diploma4.5%

HS diploma11.6%

Some college19.5%

Bachelor's+64.5%

Housing tenure

63.8%

36.2%

Owner63.8%

Renter36.2%

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

2021 vs 2026

How Franklin, TN has changed in 5 years

Rent

$1,621 → $2,132

up 31.5%

Income

$102,721 → $119,528

up 16.4%

Population

81,531 → 87,133

up 6.9%

Renter share

34.5% → 36.2%

+1.7 pts

Bachelor's+

64.3% → 64.5%

+0.2 pts

Median age

37.2 → 38.6

+1.4 yrs

The median rent in Franklin, TN stood at $1,621 in 2021 and currently runs about $2,132, reflecting a 31.5% increase over the period. Census figures show median household income at $119,528 today, compared with $102,721 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 6.9% since 2021, moving from about 81,531 residents to roughly 87,133. Renters now make up 36.2% of households, compared with 34.5% five years ago. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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 $2,132/mo, how Franklin rent compares to typical pay (30% rule).

Registered Nurse

Avg $86,922/yr · Rent = 29.4% income

affordable

Elementary School Teacher

Avg $61,714/yr · Rent = 41.5% income

rent-burdened

Police Officer

Avg $71,088/yr · Rent = 36% income

stretched

Software Developer

Avg $127,061/yr · Rent = 20.1% income

affordable

Lawyer

Avg $162,352/yr · Rent = 15.8% income

very comfortable

Firefighter

Avg $57,785/yr · Rent = 44.3% income

rent-burdened

Truck Driver

Avg $52,173/yr · Rent = 49% income

rent-burdened

Electrician

Avg $64,308/yr · Rent = 39.8% income

stretched

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, TN

Last updated: July 20, 2026

The median rent in Franklin is $2,132/mo as of July 2026. A studio apartment averages $1,702/mo while a 2-bedroom runs $1,959/mo. One-bedroom apartments average $1,767/mo and 3-bedroom units go for $2,474/mo.

At 21% of local median household income ($119,528/yr), Franklin ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.

FAQ

Frequently asked questions

Is Franklin an affordable city for renters?

Franklin is considered very affordable for renters. At $2,132/mo, rent takes approximately 21% of the local median household income ($119,528/yr). The standard benchmark is 30%. Franklin falls comfortably within that range.

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 $85,000/year (~$41/hour full-time) to afford the median rent of $2,132/mo in Franklin. The local median household income is $119,528/yr, meaning the typical Franklin household meets that threshold.

Is rent going up or down in Franklin?

Rent in Franklin has increased 5.0% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Franklin neighborhoods have the lowest rent?

The most affordable ZIP codes in Franklin are 37067 ($1,997/mo), 37064 ($2,417/mo), and 37069 ($2,720/mo). Citywide, the median rent in Franklin is $2,132/mo.

How does Franklin rent compare to other cities in Tennessee?

Franklin is one of the pricier cities in Tennessee for rent, ranking #7 out of 65 tracked cities at $2,132/mo.

Which nearby cities are cheaper to rent in than Franklin?

Several nearby cities have lower median rents than Franklin ($2,132/mo): Columbia ($1,580/mo), Nashville ($1,825/mo), Spring Hill ($2,030/mo).

What percentage of Franklin residents rent vs. own?

According to Census data, approximately 36.2% of Franklin households are renters, while 63.8% 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 $2,132/mo is $167 (8%) above the US national median of $1,965/mo. Within Tennessee, it ranks #7 out of 65 tracked cities.

Income Affordability

21%

VERY AFFORDABLE

At $2,132/mo, rent takes ~21% of Franklin's median household income ($119,528/yr). The standard benchmark is 30%.

Franklin 21%Benchmark 30%

State income taxNone

Run the Franklin affordability calculator →

Nearby cities

Brentwood

$2,129/mo

-$3

Thompsons Station