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Real Estate Prices & Overview

Franklin East median real estate price is $419,829, which is more expensive than 89.1% of the neighborhoods in Indiana and 57.3% of the neighborhoods in the U.S.

The average rental price in Franklin East is currently $1,374, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 60.6% of Indiana neighborhoods.

Franklin East is a rural neighborhood (based on population density) located in Franklin, Indiana.

Franklin East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Franklin East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 9.4% in Franklin East. NeighborhoodScout analysis shows that this rate is lower than 41.1% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Franklin, the Franklin East neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

People

Of note is NeighborhoodScout's research finding that the Franklin East neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Franklin East community truly stands out from the rest in this regard.

In addition, if you are planning to retire in Indiana, this neighborhood should be on your must-see list. For many reasons, Franklin East may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Indiana, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 98.1% of neighborhoods in IN. If a Indiana retirement is in your future, this neighborhood should be one of the places you visit.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Franklin East neighborhood in Franklin are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 64.6% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Franklin East neighborhood, 50.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 24.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.2%), and 6.1% in government jobs, whether they are in local, state, or federal positions.

Languages

The most common language spoken in the Franklin East neighborhood is English, spoken by 98.1% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Franklin East neighborhood in Franklin, IN, residents most commonly identify their ethnicity or ancestry as English (19.0%). There are also a number of people of German ancestry (14.4%), and residents who report Irish roots (13.5%), and some of the residents are also of Scottish ancestry (2.5%), along with some Scots-Irish ancestry residents (2.5%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Franklin East neighborhood spend between 15 and 30 minutes commuting one-way to work (31.3% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (88.0%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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