Average cost of a home in Franklin, TN (2026): prices by home type
Home November 12, 2026
Home November 12, 2026
When you look up the average cost of a home in Franklin, TN, the number you find depends entirely on the property type you're shopping for. Buyers in Williamson County want to know exactly what they'll spend, and the honest answer is: it comes down to the kind of space you need.
Because different home types sell for roughly the same price per square foot, a lower budget here generally buys a smaller footprint, not a discount. If you're weighing other towns, you can compare a cash offer or explore how these prices stack up against Brentwood, Nashville, or Murfreesboro.
Detached single-family houses drive the overall median home price in Franklin. If a house sits above your budget, start your search with townhouses. They sell for about the same price per square foot as houses, so you save by buying less space, and they sit on the market long enough to give you room to negotiate terms. Condos offer a lower-cost alternative with the most negotiating room, though their figures rest on a small sample of sales.
You're setting a budget for a Franklin purchase and deciding whether a single-family house, townhouse, or condo gets you the space you need for your money.
The typical Franklin home sold for $863,089 in the 90 days ending September 30, 2026. That single number gives a snapshot of the city, but it mostly reflects detached houses.
To build a realistic budget, you need to look at what specific property types cost.
Real estate platforms like Redfin and Zillow report the median sale price rather than the mean. The median is the exact middle of the market, which prevents a few multi-million-dollar estates from pulling the number artificially high.
Almost every average home price you see for Franklin is a median, and it's the better number to plan around. If you want the true mathematical average, ask an agent for the MLS mean sale price in your specific price band.
Townhouses, condos, and single-family homes in Franklin sell for nearly the same median price per square foot. Townhouses sit at roughly $316 per square foot, condos at $323, and single-family homes at $332. A smaller budget in Franklin buys a smaller home, not a bargain per foot, so decide on the space you need first and the property type second.
As a rough illustration based on these medians, dividing the median price by the median price per square foot implies roughly 2,900 square feet for a typical house, 1,950 for a townhouse, and 1,350 for a condo. That's approximate arithmetic on medians, not measured sizes.
Price per square foot also ignores land. A detached house's yard and lot are part of what that higher price buys. And the condo figure rests on just 20 recent sales, so hold it loosely.
The median sale price for a single-family home is $969,613, with 3.5 months of supply. Under four months of inventory means sellers hold the edge. Arrive with a pre-approval in hand and be ready to decide quickly.
Single-family homes dominate the local market, and their prices vary widely depending on where you look. Check school assignment for a specific address with the district's own lookup tool. Don't assume it from a neighborhood or ZIP code. You can review neighborhood prices or the most expensive areas to see how costs break down by location.
Nearly one in five houses recently sold over asking price. Budget for offers at or above list, and ask your lender about appraisal-gap exposure before you write anything.
The median sale price for a townhouse is $615,007. These properties sit on the market for a median of 82 days, which is close to three months. That time works in your favor: you can compare homes and ask for repairs or seller concessions without the same pressure you'd feel shopping for a house.
Buying a townhouse is a straightforward way to get the most space per dollar without paying for a detached lot. You can explore different home types to see how these layouts compare to other options.
Full ownership of the exterior and land is off the table. Values still rose year over year, so your negotiating room is in terms and time, not falling prices. HOA dues and shared walls come with the lower price. Before writing an offer, ask the HOA for current monthly dues, what they cover, the latest reserve study, and any rental rules.
The median sale price for a condo sits at $435,955, with 12 months of supply. A full year of supply is a buyer's market. You can negotiate on price and take your time finding the right unit.
These figures are based on just 20 condo sales over a 90-day window. A sample that small can swing sharply from one quarter to the next, so treat the numbers as a general direction rather than a firm baseline.
The same oversupply that helps you buy can slow you down when you eventually sell. If you're planning an FHA loan, confirm whether the building is FHA-approved. Ask the HOA for dues, the reserve study, and any planned special assessments before moving forward.
Financing a home near the overall median requires a loan of around $690,000 with a standard down payment. Buying an illustrative home at that price point with 20% down at a 7.03% rate, the highest weekly average reported by Freddie Mac for a 30-year fixed-rate mortgage in September 2026, results in a principal and interest payment of about $4,800 a month. This loan amount stays well under the 2026 conforming loan limit of $1,029,250 for Williamson County.
Taxes and insurance are on top of that. Tennessee applies a 25% residential assessment ratio to your home's appraised value, then multiplies by the combined city and county property tax rates. Add a homeowners insurance quote for the specific property, plus any HOA dues, and you have your true carrying cost.
That total monthly figure is what you test your household budget against. Ask your lender for a Loan Estimate to see closing costs and whether your loan amount is conforming or jumbo.
The median sale price for all homes rose 12.8% year over year. Prices are climbing, which means waiting to buy has a real cost. Condos are the one segment where prices softened, dropping 6.5% year over year (based on 20 condo sales), so treat that drop as a signal to verify with recent comparable sales, not a guaranteed market trend. You can check the latest Franklin housing market trends for a broader view.
Year-over-year changes compare two 90-day windows and can move quickly. Always check recent comparable sales for a specific home before leaning too hard on broader trends.
Detached houses make up roughly four in five home sales in Franklin. So start with the basics: do you need a private yard and the floor space of a typical detached house? If yes, look at single-family homes and plan to compete. If no, read the townhouse and condo sections first.
Is your ceiling under roughly $500,000? Condos are the only type whose median sits below that mark. Do you want time to compare homes and negotiate rather than decide in a weekend? Townhouses and condos stay listed far longer than houses. And are you comfortable paying monthly HOA dues and living under association rules? If not, a lower sticker price may not translate to real savings.
If you want a detached house with a yard and the most floor space, start with single-family homes because they're most of what sells in Franklin. If you want the most space per dollar without paying for a detached lot, start with townhouses. If you want a Franklin home under $500,000 with real negotiating room, start with condos. Bill Diebenow can pull recent comparable sales for the type and price band you're considering. You can also explore the buying process or narrow down your options by ZIP code.
That median generally sits higher than the statewide median. Check the Tennessee Realtors site for the latest statewide figures to see the exact difference. You can also review how Franklin compares directly to Nashville or Murfreesboro.
Tennessee assesses residential property at 25% of its appraised value. For fiscal year 2026, the City of Franklin rate is $0.296 and the Williamson County rate is $1.30 per $100 of assessed value. On a home priced near the overall median, the assessed value is $225,000, resulting in an annual property tax bill of about $3,591. Look up the actual bill on the Williamson County Trustee site, and review local schools and tax rates for more details.
Yes, but Tennessee offers relief programs. Under the 2026 State Property Tax Relief Program, homeowners 65 or older with a combined 2025 income under $38,470 may qualify. Williamson County also offers a Tax Freeze program for those 65 or older with a combined household income up to $69,150. Confirm your eligibility and deadlines with the Williamson County Trustee, or explore local retirement communities.
At a 7.03% rate with 20% down, the principal and interest payment on a home priced near the overall median comes to about $4,800 a month. A common lender guideline suggests keeping housing costs near 28% of your gross income, which would require roughly $205,000 annually for that payment alone. A townhouse-priced purchase around $615,000 drops that payment to roughly $3,280, requiring a gross income closer to $140,000. Get pre-approved to see exactly what you qualify for based on your total debts.
Most of the homes sold in Franklin are single-family houses, with 342 of the 437 recent sales falling into this category. Supply is tight across the market, keeping prices firm. You can review the local job market to see the employers operating in the area.
Franklin homes recently sold for a median of $326 per square foot across all property types. Detached houses sit at the top of that price range. You can check the most expensive areas to see how pricing shifts by neighborhood.
According to the U.S. Census Bureau's 2020-2024 American Community Survey 5-year estimates, the median gross rent in Franklin city is $1,923 per month. HUD's FY2026 Fair Market Rents for the local metro area place a 3-bedroom at $2,211 and a 4-bedroom at $2,696. Renting often costs less per month than the principal and interest payment on a purchase at that level; review the cost of living and household budget for a complete picture.
No, Franklin is in Williamson County and is the county seat. This distinction matters for your budget because you pay Williamson County property tax rates and apply for county-specific programs like the tax freeze. Compare Franklin and Nashville directly to see how the two counties differ.
Tennessee real estate tips and insights.
Middle TN
Bill Diebenow | November 12, 2026
Pricing
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Home
Bill Diebenow | November 12, 2026
Search
Bill Diebenow | November 12, 2026
Bill's real estate experience spans residential and commercial transactions as an agent, buyer, seller, investor, tenant, landlord, and cross-county corporate relocation. Bill looks forward to understanding your needs, building your trust, and helping you successfully sell your existing home, find your new home, or add to your real estate portfolio.
Bill Diebenow
3990 Hillsboro Pike Suite 320 Nashville TN 37215