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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.



Franklin Square, NY 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 Q2 2024. 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

Franklin Square, NY Housing Market Trends

With a population of 30,903, 9,809 total housing units (homes and apartments), and a median house value of $775,793, Franklin Square house prices are not only among the most expensive in New York, Franklin Square real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Franklin Square, accounting for 85.51% of the town's housing units. Other types of housing that are prevalent in Franklin Square include duplexes, homes converted to apartments or other small apartment buildings ( 11.22%), large apartment complexes or high rise apartments ( 2.13%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Franklin Square. Owner-occupied housing accounts for 83.14% of Franklin Square's homes, and 69.69% 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. Franklin Square's housing was primarily built during this period, from the '40s through the '60s. A full 70.85% of the town's housing hails from this era. Other housing ages represented in Franklin Square include homes built before 1939 ( 17.06%) and housing constructed between 1970-1999 ( 8.78%). There's also some housing in Franklin Square built between 2000 and later ( 3.32%).

Franklin Square Home Appreciation Rates

Real estate appreciation rates in Franklin Square's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.19% during the period.

NeighborhoodScout's data show that during the latest twelve months, Franklin Square's appreciation rate, at 7.26%, has been at or slightly above the national average. In the latest quarter, Franklin Square's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.

Relative to New York, our data show that Franklin Square's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Franklin Square differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Franklin Square - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Franklin Square real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$775,793

Franklin Square, NY Home Prices
> $1,277,000
$958,001 - $1,277,000
$638,001 - $958,000
$511,001 - $638,000
$383,001 - $511,000
$255,001 - $383,000
$128,001 - $255,000
$64,001 - $128,000
$0 - $64,000
3.4%
3.4%
15.3%
15.3%
60.0%
60.0%
14.4%
14.4%
3.1%
3.1%
0.4%
0.4%
0.6%
0.6%
1.5%
1.5%
1.4%
1.4%
0% 100.0%
% of Homes
Very High

for New york

Very High

for nation

Number of Homes And Apartments:

9,809

Franklin Square Appreciation Rates

Rent & Ownership

Average Market Rent:

$4,199 / per month

Homeownership Rate

Owners
Renters
83.1%
83.1%
16.9%
16.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.0%
2.0%
98.0%
98.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.3%
3.3%
8.8%
8.8%
70.8%
70.8%
17.1%
17.1%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
85.5%
85.5%
0.7%
0.7%
11.2%
11.2%
2.1%
2.1%
0.5%
0.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.5%
0.5%
2.7%
2.7%
17.0%
17.0%
43.1%
43.1%
26.5%
26.5%
10.1%
10.1%
0% 100.0%
% of Homes