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Franklin

45 min to Boston
"Growing MetroWest hub with commuter rail and new development"
Median Price
$675,000
$385/sqft
School Rating
7.9/10
Good
Appreciation
4.4%
per year
Commute
45 min
to downtown

Home Values in Franklin, MA

The average home price in Franklin, MA is approximately $675,000 (median), with homes trading at $385/sqft. Home values in Franklin have appreciated at roughly 4.4% per year, reflecting strong ongoing demand from buyers prioritizing schools and commute access.

Census estimated median home value: $517K (ACS 2022 5-year). Current market prices typically run higher due to post-2022 appreciation.

Financing Considerations

Properties in Franklin typically typically qualify for conforming loans with more flexible underwriting standards.

Learn about loan thresholds, property condition impact, flood/wind insurance, and how vintage homes (common in many MA towns) affect mortgage approval.

✨The Vibe

Growing MetroWest town with commuter rail, modern developments, and family-friendly atmosphere at accessible prices

What It's Really Like

Franklin is MetroWest's affordable growth story—commuter rail access, new developments, good schools improving, and you're not breaking the bank.

Best For

  • ✓Commuter rail families on a budget
  • ✓New construction buyers
  • ✓Growing families seeking space
  • ✓Value-focused MetroWest workers

Avoid If

  • ✗You need quick Boston access (45+ min)
  • ✗You want established prestige
  • ✗You prefer historic character over new builds

🌟Highlights

🚂Commuter rail to South Station
🏗️Modern developments and new construction
🏫Schools improving (7.8/10)
💰Most affordable MetroWest with rail access

Insider Tips

  • 💡Dean College adds college-town vibe
  • 💡Downtown area revitalizing
  • 💡Route 495 access excellent for tech workers

Demographics

Population
33,500
Median Age
40
Median Income
$124,000

Source: Census ACS 2023 5-year estimates

Economic Profile

Remote Work
19.1%
work from home
Professional Workers
55.4%
knowledge economy
Broadband Access
95.9%
digital infrastructure
Median Commute
34 min
to work
Rental Cost Burden
47.6%
pay >30% on rent
Homeownership
79.2%
owner-occupied
Poverty Rate
4.6%
below poverty line
Unemployment
5.4%
of labor force
Median Home Value
$517K
Census estimate
Data source: Census ACS 2022 5-year

Religious Community

Places of Worship
7
Churches
6
Synagogues
1
Multi-faith community with diverse religious traditions(Diversity Score: 37/100)
Historical Context: Oldest establishment dates to 1738• 4 established before 1900
Data Source: MassGIS 2025 (Updated 2025-02-03)

Housing Stock Age

Median Year Built
1980
46 years old
Pre-1940 Construction
15.2%
Lower risk
Post-2000 Construction
27.4%
Modern housing stock
Est. Annual Insurance
$2,200
Based on housing age

Insurance Cost Calculator

Estimate your annual homeowners insurance premium

$337,500$675,000$1,350,000

Leave blank to use town median (1980)

Annual Premium
$2,100
$175/month
vs. State Average
+5%
MA avg: $2,008/year
Risk Category
MODERATE
Based on home age

30-Year Mortgage Impact

$63,000

Total insurance cost over 30-year mortgage (equivalent to 0.3% of home value)

Age Penalty

This home costs $489 more per year to insure than a newly built home. Over 30 years, that's $14,670 in additional insurance costs.

Ways to Lower Your Premium

  • Bundle home + auto insurance with same carrier (10-25% discount)
  • Increase deductible from $500 to $2,500 (save 15-30%)
  • Install monitored security system (5-20% discount)
  • Replace roof with impact-resistant materials (save 5-15%)
  • Upgrade plumbing to PEX or copper

* Estimates based on Massachusetts state averages and typical underwriting criteria. Actual premiums vary by carrier, coverage limits, deductible, claims history, and credit score. For accurate quotes, contact a licensed insurance agent.

Construction Era Distribution

2020+
195 units
2010-2019
10.2%
1,280 units
2000-2009
15.6%
1,950 units
1990-1999
17.6%
2,200 units
1980-1989
18.8%
2,350 units
1970-1979
18%
2,250 units
1960-1969
14.8%
1,850 units
1950-1959
8.8%
1,100 units
1940-1949
420 units
Pre-1940
15.2%
1,905 units
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Resources & Research

School Information

Boston Area School Rankings →

Compare 48 high schools by SAT scores, MCAS proficiency & college enrollment

Market Analysis

Rent vs Buy Analysis 2025 →

Break-even math, SALT cap impacts & decision framework for Boston buyers

Insurance & Risk

MA Insurance Crisis Guide →

Why coastal & historic homes face coverage denials (+ FAIR Plan rules)

Home Buying Terms

Real Estate Glossary →

200+ terms explained: ARM, DTI, PMI, escrow, cap rate & more

View All Market Guides & Analysis →

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🚇

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🎨

Somerville

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