Average rent in Franklin

Average rent in Franklin,TN

In terms of the average rent in Franklin, TN, there are several key factors to consider. Firstly, the 2023 forecast shows that the average monthly rent will be around $1,800. This is a significant increase compared to the previous year, where the average was $1,600 per month. Moreover, the 2023 projection is about $300 per month higher than the average rent from five years ago. Overall, it is clear that the cost of living in Franklin, TN continues to rise, including the average rent prices. Therefore, it is crucial for residents or anyone planning to move to Franklin to plan their budget accordingly.

Average rent in Franklin,TN for 1-bedroom

In the year 2023, the average rent for a 1-bedroom apartment in Franklin, TN is expected to reach $1,350. This is a significant increase from the previous year, where the average rent was around $1,200. Moreover, there has been a steady increase in rent for 1-bedroom apartments in Franklin over the past five years. In 2018, the average rent for a 1-bedroom apartment was only $950, but it has consistently climbed since then. These changes can be attributed to the rising demand for housing in Franklin, as well as the increasing cost of living in the area. However, despite these changes, Franklin remains an attractive and highly sought after location for both renters and homeowners alike.

Average rent in Franklin,TN for 2-bedroom

In 2023, the average rent for a 2-bedroom apartment in Franklin, TN is projected to increase by 5% compared to the previous year. However, this does not reflect a significant increase in comparison to 2021 and 2022, where the average rent rose by approximately 8% and 10%, respectively. Despite these increases, Franklin, TN remains an affordable option for renters compared to neighboring cities like Nashville, where the average rent for a 2-bedroom apartment is significantly higher. Clearly, this upward trend in rent prices illustrates the growing demand for housing in Franklin, TN, and its surrounding areas.

Average rent in Franklin,TN for 3-bedroom

In 2023, the average rent in Franklin, TN for a 3-bedroom apartment is expected to be higher than previous years. According to recent reports, the expected rent for a 3-bedroom apartment in Franklin, TN in 2023 is estimated to be $2,500. However, in 2020, the average rent for a 3-bedroom apartment in Franklin, TN was $2,200. This represents a significant increase in rent of $300 from 2020 to 2023. Moreover, from 2017 to 2023, the average rent for a 3-bedroom apartment in Franklin, TN has increased by $500, from $2,000 in 2017 to $2,500 in 2023. As a result, it’s clear that the cost of living in Franklin, TN for a three-bedroom rental is steadily increasing with time.

Average rent in Franklin,TN for studio

The average rent for a studio in Franklin, TN has shown a steady increase over the past few years. In 2020, the average rent was $1,200 per month, followed by a slight rise of $50 in 2021. However, by 2023, the average rent is projected to reach $1,400 per month, marking a notable jump in just two years. Despite this increase, living in Franklin is still more affordable than other major cities in Tennessee such as Nashville or Memphis. In addition, there are many benefits to residing in Franklin, such as the town’s charming atmosphere and abundance of local attractions. Ultimately, the rise in rent demonstrates Franklin’s strong economic growth and desirability as a place to live.

Average rent in Franklin,TN for townhouse

In 2023, the average rent in Franklin, TN for townhouses is projected to increase by 15% compared to the previous year. This rise in rent prices can be attributed to the growing demand for rental properties coupled with limited supply. Nevertheless, despite the increase in rental rates, Franklin, TN remains an affordable and competitive housing market compared to other cities in Tennessee. Furthermore, Franklin’s townhouses offer spacious and modern living options, making it an attractive choice for many renters. Ultimately, while the rise in rent may seem daunting, it is important to note that Franklin’s rental offerings are still an excellent value for the money.

Most expensive neighborhoods in Franklin,TN

Franklin, TN is home to some of the most sought-after neighborhoods in the country, and some of the priciest too. The most expensive neighborhoods in Franklin are Belle Meade, Green Hills, and Forest Hills. These neighborhoods offer residents luxurious homes with expansive yards, high-end amenities, and proximity to some of the best schools, shops, restaurants, and entertainment options around. Despite the high price tags, demand for homes in these neighborhoods remains high, making them excellent investments for those with deep pockets.

Most affordable neighborhoods in Franklin,TN

Franklin, TN is a charming and historical city located just south of Nashville. If you are looking for an affordable place to live in Franklin, there are several neighborhoods that offer excellent value for money. One of the most affordable neighborhoods in Franklin is Fieldstone Farms, which is ideal for families and offers a range of housing options including townhouses, single-family homes, and apartments. Another great choice is Westhaven, a planned community which offers a mix of condos, townhouses, and single-family homes at an affordable price point. Finally, Franklin Green is a community located near downtown Franklin which offers affordable townhomes and easy access to local amenities.

Most popular neighborhoods in Franklin,TN

Franklin, TN is a picturesque and charming city with a rich history and plenty of neighborhoods to choose from. Among the most popular neighborhoods in Franklin are Westhaven, Fieldstone Farms, and Forrest Crossing. Westhaven is a masterfully planned community with luxurious homes and amenities like a 71-acre lake, community pool, fitness center, and shopping center. Fieldstone Farms is known for its spacious homes, access to parks and trails, and proximity to shopping and dining options. Forrest Crossing is a golf course community that offers beautifully designed homes with stunning views of the greens, a community pool, and easy access to nearby shops and restaurants.

Comparison with other cities

1. New York, NY – $3,406
2. San Francisco, CA – $3,044
3. Boston, MA – $2,906
4. Los Angeles, CA – $2,529
5. San Diego, CA – $2,200
6. Washington, DC – $2,166
7. Miami, FL – $1,917
8. Seattle, WA – $1,804
9. Chicago, IL – $1,735
10. Atlanta, GA – $1,649
11. Dallas, TX – $1,519
12. Denver, CO – $1,506
13. Austin, TX – $1,491
14. Charlotte, NC – $1,369
15. Nashville, TN – $1,361

FAQ

Q: What is the average rent in Franklin, TN?
A: As of 2023, the average rent in Franklin, TN is $2,500 per month.

Q: How much should I expect to pay for a one-bedroom apartment in Franklin, TN?
A: The average rent for a one-bedroom apartment in Franklin, TN is $1,900 per month as of 2023.

Q: What is the average rent for a two-bedroom apartment in Franklin, TN?
A: The average rent for a two-bedroom apartment in Franklin, TN is $2,500 per month as of 2023.

Q: Are rental prices increasing or decreasing in Franklin, TN?
A: As of 2023, rental prices in Franklin, TN are increasing but at a steady rate.

Q: How does the average rent in Franklin, TN compare to other cities in the state?
A: Franklin, TN’s average rent is higher than the state average, but it may depend on the city. For instance, the average rent in Nashville, TN is $2,200 per month as of 2023.

Q: Is it cheaper to rent outside of Franklin, TN?
A: It depends on the location. However, the surrounding cities and towns can be less expensive than renting in Franklin, TN.

Q: What factors affect the cost of rent in Franklin, TN?
A: The cost of rent in Franklin, TN can be affected by several factors, such as location, size, amenities, and demand in the housing market.

Q: Can I find affordable housing in Franklin, TN?
A: Affordable housing can be found in Franklin, TN, but it can be challenging. It might be best to seek out assistance from local agencies or agencies to find affordable housing.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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