Moving to Franklin TN: Cost of Owning a Home in 2026

If you are moving to Franklin TN, the price of the house is only part of what you will pay. Property taxes, closing costs, insurance and your monthly payment all shape the real cost of owning here.

This post pulls together the numbers I can source, explains how Franklin’s property tax works, and lists what to verify before you commit to a home.

What the Franklin market looks like right now

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As of 2026-09-30, Redfin reports a Franklin median sale price of $863,089, up 12.8% from a year earlier (rolling 3 months). The median home spent 55 days on the market, and the average sale-to-list ratio was 98.1%. There were 569 active listings.

Redfin also shows 4.0 months of supply for Franklin. Months of supply is how long it would take to sell every active listing at the current pace of sales. Under 4 months favors sellers, 4 to 6 months is balanced, and over 6 months favors buyers. Franklin sits right at the low edge of the balanced range.

The rate matters too. Freddie Mac, via FRED, reported a 30-year fixed mortgage rate of 7.40% for the week of 2026-10-15. Rates change weekly, and no one can reliably predict where they go next. You can plug your own price, down payment and rate into the Mortgage calculator to see a monthly payment.

If you want to see how the city’s numbers sit next to its neighbors, I put together Franklin vs Brentwood and Franklin vs Spring Hill.

How Franklin property taxes work

This is the part that surprises many people who relocate. Franklin addresses can fall in different tax situations, so the exact address matters.

For the 2026 tax year, the Williamson County sheet lists two combined rates:

• In the Franklin Special School District: $2.2433 per $100 of assessed value (county $1.18, school district $0.7673, city $0.296).
• Outside the district: $1.5660 per $100 of assessed value (county $1.27, city $0.296).

Tennessee assesses residential property at 25% of appraised value. The rate is applied to the assessed value, not the full appraised value.

To see the math worked through with the current median sale price, my page on Franklin property taxes has a step-by-step example. It is an illustration, not a prediction for any home.

Source for the rates: Williamson County 2026 Property Tax Rates (county sheet). Rates are set each year, so check for updates. To see how a specific property is appraised, use the Williamson County property search. I am not giving tax advice here, and for questions about your own situation, talk with a tax professional or the county directly.

Other costs to plan for when buying

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Closing costs typically run 2 to 4 percent of the purchase price, plus earnest money and moving costs. Build that into your cash plan along with your down payment.

A few other items to understand:

• Down payment and mortgage insurance. Private mortgage insurance is typically required on conventional loans when the down payment is under 20 percent. FHA loans allow as little as 3.5 percent down. VA loans typically require no down payment and no monthly mortgage insurance, though a funding fee may apply.
• Inspections. Radon testing, a sewer scope and a termite inspection are common add-ons to a standard home inspection. Termite and wood-destroying organism inspections are commonly requested by buyers and lenders in Tennessee.
• Loan paperwork. A lender must give you a Loan Estimate within three business days of applying, and the Closing Disclosure at least 3 business days before closing. Compare the two and ask questions.
• Your credit. From the time you apply through closing, avoid opening new credit, financing furniture or changing jobs.

The Tennessee Housing Development Agency (THDA) offers home loan programs through participating lenders, so ask any lender you are considering whether they take part. You choose your own lender, and the CFPB encourages getting Loan Estimates from more than one.

One safety note: wire fraud is real. Verify wire instructions by phone using a number you already trust, and never rely on emailed wire instructions.

For a wider look at monthly costs, see Franklin cost of living.

What the Census numbers say about Franklin

The U.S. Census Bureau’s American Community Survey 5-year estimates (2020 to 2024) show these figures for Franklin:

• Median household income: $119,528
• Median gross rent: $1,923 per month
• Mean travel time to work: 23.9 minutes
• Owner-occupied homes: 63.8%

The rent figure is useful if you are weighing buying against renting. One way to frame it is to compare the full monthly cost of buying (payment, taxes, insurance, maintenance) with the monthly cost of renting a comparable home, and to think about how long you expect to stay. Those are averages, so your own commute depends on where you live and where you work. For ZIP-level figures, see Franklin ZIP codes and Census numbers.

Schools, commute and city services: verify by address

Franklin addresses are served by two public school districts, and which one applies depends on the exact address. The Franklin Special School District runs eight schools for pre-kindergarten through eighth grade. Williamson County Schools is the county district. The most reliable way to find the zoned school for a home is each district’s own lookup tool, so start with Franklin Special School District and Williamson County Schools. School assignment can also tie into which tax rate applies, so confirm both for any home you are serious about. My page on Franklin schools and zoning is another place to start.

For commutes, the Census average is a starting point. Test the actual drive at the times you would make it, and check current conditions on TDOT SmartWay traffic. See also Franklin commute times. For city services and local rules, the City of Franklin site is the official source.

When you are ready to pack, request quotes from at least 3 licensed moving companies and book early for month-end dates. Our Free moving checklists can help you keep the steps in order.

Talk it through before you move

A move to a new city goes better when the numbers are checked against your own budget and timeline. If you want to talk through Franklin, fill out the Get Matched buyer form on this site. I will schedule a call, and we will be talking within the next 48 hours. You can also reach me through the contact page.

— Scott Davis, REALTOR® with Hive Nashville