Rents are 8% below what Franklin's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
Bedroom figures are derived from HUD Fair Market Rents and scaled to match Franklin's market median, because the published HUD values all ran above it. They are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Franklin usually run 0.7% below trend in January and 0.7% above it in July, about $29 a month apart at today's median. Based on 11 years of data.
Rent in Franklin is 0.2% below its high of $2,042 in May 2026, at $2,038 as of September 2026.
Rent in Franklin changed +1.0% over the year to September 2026. Across the 51 Tennessee cities Zillow tracks, the typical change was +2.0%.
From 2019 to 2024, rent in Franklin rose 32.3% while median household income rose 21.7% ($98,231 to $119,528). Rent outpaced income.
Rent in Franklin is 31.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 6 of the last 12 months.
30% of the median household income ($119,528) is $2,988 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,487); a 3-bedroom is $3,140.
The priciest of 3 ZIP codes in Franklin, 37069 ($2,449/mo), costs 26% more than the cheapest, 37067 ($1,950/mo).
Nashville, 17 miles away, rents for 11% less ($1,820/mo), about $2,600 a year in savings.
From Zillow's monthly rent index (ZORI) for Franklin. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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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.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Franklin, TN has changed in 5 years
The median rent in Franklin, TN stood at $1,626 in 2021 and currently runs about $2,038, reflecting a 25.3% 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.
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At $2,038/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 $2,038/mo as of October 2026. A studio apartment averages $1,627/mo while a 2-bedroom runs $1,873/mo. One-bedroom apartments average $1,689/mo and 3-bedroom units go for $2,365/mo.
At 20% of local median household income ($119,528/yr), Franklin ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.0% over the past year.
Frequently asked questions
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How does Franklin rent compare to other cities in Tennessee?
At $2,038/mo, rent takes ~20% of Franklin's median household income ($119,528/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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