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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Franklin, OH Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Franklin, OH Housing Market Trends

With a population of 13,762, 5,643 total housing units (homes and apartments), and a median house value of $258,980, New Franklin real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in New Franklin, accounting for 91.48% of the city's housing units. Other types of housing that are prevalent in New Franklin include duplexes, homes converted to apartments or other small apartment buildings ( 3.35%), mobile homes or trailers ( 2.65%), and a few large apartment complexes or high rise apartments ( 1.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Franklin. Owner-occupied housing accounts for 86.91% of New Franklin's homes, and 78.11% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Franklin's housing was primarily built during this period, from the '40s through the '60s. A full 55.83% of the city's housing hails from this era. Other housing ages represented in New Franklin include homes built between 1970-1999 ( 30.25%) and housing constructed before 1939 ( 9.36%). There's also some housing in New Franklin built between 2000 and later ( 4.56%).

New Franklin Home Appreciation Rates

Real estate appreciation rates in New Franklin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.02% during the period.

NeighborhoodScout's data show that during the latest twelve months, New Franklin's appreciation rate, at 5.00%, has been at or slightly above the national average. In the latest quarter, New Franklin's appreciation rate has been 1.34%, which annualizes to a rate of 5.48%.

Relative to Ohio, our data show that New Franklin's latest annual appreciation rate is lower than 90% of the other cities and towns in Ohio.

Average Home Values

Median Home Value

$258,980

New Franklin, OH Home Prices
> $1,307,000
$981,001 - $1,307,000
$654,001 - $981,000
$523,001 - $654,000
$392,001 - $523,000
$261,001 - $392,000
$131,001 - $261,000
$65,001 - $131,000
$0 - $65,000
0.3%
0.3%
0.6%
0.6%
4.6%
4.6%
4.4%
4.4%
8.9%
8.9%
25.8%
25.8%
49.2%
49.2%
4.3%
4.3%
1.9%
1.9%
0% 100.0%
% of Homes
High

for Ohio

Average

for nation

Number of Homes And Apartments:

5,643

New Franklin Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,335 / per month

Homeownership Rate

Owners
Renters
86.9%
86.9%
13.1%
13.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.1%
6.1%
93.9%
93.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.6%
4.6%
30.2%
30.2%
55.8%
55.8%
9.4%
9.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
91.5%
91.5%
0.6%
0.6%
3.3%
3.3%
1.8%
1.8%
2.6%
2.6%
0.2%
0.2%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.1%
0.1%
0.6%
0.6%
17.6%
17.6%
62.9%
62.9%
15.2%
15.2%
3.5%
3.5%
0% 100.0%
% of Homes

Popular Neighborhoods in New Franklin

Zip Codes in New Franklin, OH