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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 13,762 people, 5,643 houses or apartments, and a median cost of homes of $278,917, 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%).
Appreciation rates for homes in New Franklin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.50%, which ranks in the top 50% nationwide. This equates to an annual average New Franklin house appreciation rate of 6.82%.
Appreciation rates are so strong in New Franklin that despite a nationwide downturn in the housing market, New Franklin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Franklin appreciation rates continue to be some of the highest in America, at 8.05%, which is higher than appreciation rates in 70.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Franklin. New Franklin appreciation rates in the latest quarter were at 1.45%, which equates to an annual appreciation rate of 5.93%.
Relative to Ohio, our data show that New Franklin's latest annual appreciation rate is higher than 50% of the other cities and towns in Ohio.
$278,917
for Ohio
for nation
5,643
$1,433 / per month