Market Overview
Home Prices in Franklin, CT
The median home value in Franklin, CT is $424,581 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.4% compared to a year ago and up 7.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Franklin are priced4% above average. Franklin is part of the Norwich-New London, CT metro area.
Over the past five years, Franklin home values have risen by approximately41.4%, reflecting strong long-term appreciation in this market.
Price History
Franklin Home Price Trend
City Comparison
Franklin vs. National Median
At $424,581, homes in Franklin cost 4% above the national median of $410,000. Buyers in Franklin should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Franklin?
20% Down Payment
$84,916
on $424,581
Monthly P&I
$2,214/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,812/mo
incl. taxes & insurance
Income Needed
$112,480
gross annual (30% rule)
10% Down Option
$42,458
+ PMI applies
Loan Amount (20% dn)
$339,665
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Franklin, CT?
The median home value in Franklin is $424,581 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.4% year-over-year.
How much have home prices changed in Franklin?
Over the past year, home values in Franklin have increased by 7.4%. Over five years, prices have risen approximately 41.4%.
How much do I need to earn to buy a home in Franklin?
To comfortably afford the median home price of $424,581 with a 20% down payment ($84,916) at today's rates (6.8%), you'd need a gross annual income of approximately $112,480. This assumes keeping total housing costs at or below 30% of gross income.
How does Franklin compare to the national average home price?
The national median home value is approximately $410,000. At $424,581, homes in Franklin are 4% above the national average.
What metro area is Franklin part of?
Franklin is part of the Norwich-New London, CT metropolitan area. Home prices and market conditions can vary across the broader metro region.