ZIP Code · OH

ZIP 45005

Part of Franklin, OH

Pop. 32,251·Warren County·140th most expensive ZIP in Ohio

Median rent (all units)

$1,284/mo

Year-over-Year

+2.1%

Month-over-Month

-2.9%

vs US Median

-$648

Reported rents

Falling (Monthly)

Be the first to discuss 45005 rents ↓

Most AffordableMost Expensive

ZIP 45005 · $1,284

More affordable than 87% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$910

1 BR

$1,000

2 BR

$1,290

3 BR

$1,700

4 BR+

$1,880

Research median

$1,290/mo

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

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 45005 is 4.5% below its high of $1,344 in July 2026, at $1,284 as of September 2026.

Past year vs. the rest of Ohio

Rent in ZIP 45005 changed +2.1% over the year to September 2026. Across the 190 Ohio ZIP codes Zillow tracks, the typical change was +3.8%.

Recent direction

Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($75,399) is $1,885 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,880).

Cheaper nearby

ZIP 45042, 7 miles away, rents for 21% less ($1,012/mo), about $3,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 45005. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$15,408/yr

At $1,284/mo median

Location

CityFranklin

StateOH

CountyWarren County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (up only 2.1% YoY), so renters have negotiating leverage.

Based on rent-price momentum (+2.1% YoY, -2.9% MoM), not inventory.

Demographics

Who lives here

ZIP 45005 (Franklin, OH) is majority owner-occupied, 20.2% of residents hold a bachelor's degree or higher.

Population

32,251

Median income

$75,399

Median age

39.4

Renters

25.4%

Age distribution

21.3%

24.1%

24.6%

13.4%

16.6%

Under 1821.3%

18–3424.1%

35–5424.6%

55–6413.4%

65+16.6%

Gender

50.7%

49.3%

Male50.7%

Female49.3%

Race & ethnicity

90.4%

White90.4%

Black1.3%

Hispanic2.5%

Asian2.8%

Other2.9%

Education (25+)

42.1%

29%

20.2%

No HS diploma8.7%

HS diploma42.1%

Some college29%

Bachelor's+20.2%

Housing tenure

74.6%

25.4%

Owner74.6%

Renter25.4%

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

2023 vs 2026

How ZIP 45005 in Franklin, OH has changed in 5 years

Rent

$929 → $1,284

up 38.2%

Income

$67,439 → $75,399

up 11.8%

Population

31,294 → 32,251

up 3.1%

Renter share

27.4% → 25.4%

-2.0 pts

Bachelor's+

16.5% → 20.2%

+3.7 pts

Median age

40.6 → 39.4

-1.2 yrs

Five years ago, renters in ZIP 45005 in Franklin, OH paid around $929 a month. That figure now sits near $1,284, up 38.2% from the 2023 baseline. Household income in the area moved from $67,439 to $75,399 across the same window, up 11.8% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 45005 in Franklin, OH adding about 957 residents over the five-year window, up 3.1% on net. The renter share has eased from 27.4% to 25.4%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 16.5% to 20.2% across the same window. Reading these numbers side by side helps frame whether current listings in ZIP 45005 in Franklin, OH look reasonable against where the market sat half a decade ago.

Community

Discussions about ZIP 45005

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 45005

About renting in ZIP 45005

Last updated: October 17, 2026

ZIP code 45005 covers Franklin, OH. The median rent here is $1,284/mo as of October 2026. A 1-bedroom rents for a median of $1,000/mo. A 2-bedroom rents for a median of $1,290/mo.

At 20% of local median household income ($75,399/yr), ZIP 45005 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 45005?

To keep rent at or below 30% of gross income, you would need to earn at least $51,000/year (about $25/hour full-time) to afford the median rent of $1,284/mo in ZIP 45005. The local median household income is $75,399/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 45005?

Rent in ZIP 45005 has risen 2.1% over the past year as of September 2026. It sits 4.5% below its high of $1,344 in July 2026.

How does ZIP 45005 compare to other ZIPs in Ohio?

ZIP 45005 is in the middle among Ohio ZIP codes for rent, ranking #140 of 229 at $1,284/mo. Over the year to September 2026, rent in ZIP 45005 changed +2.1%, against a typical +3.8% across the 190 Ohio ZIP codes Zillow tracks.