Quick facts: Franklin, TX

Quick Facts

99.5
Cost of Living
below US average
10,618
Population
4.24
Crime Rate per 1000
below US average
$67,915
Median Income
below US average
$325,000
Median House Price
above US average
$1650.0
Average Rent
above US average
12%
Poverty Rate
above US average
4.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $67,915.

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Income Needed to Buy

βœ— Stretch
$102k/year
Based on $325,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $102k vs median $67,915
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Income Needed to Rent

⚠ Stretch
$71k/year
Based on $1650.0/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $71k vs median $67,915
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Franklin, TX

Franklin, Texas, is a small yet charming city situated in the northeastern part of the state. It serves as the county seat of Robertson County and is known for its friendly atmosphere and community-oriented lifestyle. The city has a rich history, dating back to its founding in the late 1800s, and it prides itself on its Southern hospitality. One of the key attractions in Franklin is its picturesque downtown area, featuring a variety of local shops, restaurants, and historic buildings that reflect the city's heritage. The annual events, such as the Robertson County Fair, bring the community together and celebrate local culture. Outdoor enthusiasts can enjoy the natural beauty surrounding Franklin, with parks and recreational areas that offer opportunities for hiking, picnicking, and exploring the scenic landscapes of Texas. The city is also conveniently located near larger urban centers, providing residents access to additional amenities and services. With its small-town charm, friendly community, and rich history, Franklin, TX, represents a welcoming place for both residents and visitors alike.

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