Market Overview
Home Prices in Franklin Square, NY
The median home value in Franklin Square, NY is $824,962 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.6% compared to a year ago and up 6.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Franklin Square are priced101% above average. Franklin Square is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Franklin Square home values have risen by approximately28.4%, reflecting strong long-term appreciation in this market.
Price History
Franklin Square Home Price Trend
City Comparison
Franklin Square vs. National Median
At $824,962, homes in Franklin Square cost 101% above the national median of $410,000. Buyers in Franklin Square should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Franklin Square?
20% Down Payment
$164,992
on $824,962
Monthly P&I
$4,303/mo
30-yr @ 6.8%
Total Monthly Est.
~$5,465/mo
incl. taxes & insurance
Income Needed
$218,600
gross annual (30% rule)
10% Down Option
$82,496
+ PMI applies
Loan Amount (20% dn)
$659,970
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 Square, NY?
The median home value in Franklin Square is $824,962 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.6% year-over-year.
How much have home prices changed in Franklin Square?
Over the past year, home values in Franklin Square have increased by 4.6%. Over five years, prices have risen approximately 28.4%.
How much do I need to earn to buy a home in Franklin Square?
To comfortably afford the median home price of $824,962 with a 20% down payment ($164,992) at today's rates (6.8%), you'd need a gross annual income of approximately $218,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Franklin Square compare to the national average home price?
The national median home value is approximately $410,000. At $824,962, homes in Franklin Square are 101% above the national average.
What metro area is Franklin Square part of?
Franklin Square is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.