Latest available · Census ACS 5-Year (2023)
What Is the Average Rent in Franklin village, Michigan?
City · Census ACS 5-Year estimates
The median gross rent in Franklin village, Michigan is $3,175/month (±$852), based on Census ACS 5-Year estimates (2023). The median home value is $696,700 (±$58,914), and the median household income is $176,571/year. Source: U.S. Census Bureau, American Community Survey, 2023 5-Year Estimates.
Housing Metrics for Franklin village, Michigan
| Metric | Value |
|---|---|
| Median Gross Rent | $3,175 |
| Median Home Value | $696,700 |
| Median Household Income | $176,571 |
| Total Housing Units | 1,061 |
| Renter-Occupied Units | 54 |
| Renter-Occupied Share | 5% |
| Households Paying 50%+ Income | 3 households |
How does Franklin village, Michigan compare?
Median gross rent ranked against all cities in Michigan.
Higher rent than 100% of cities in Michigan · 2nd of 604
| # | City | Value |
|---|---|---|
| 1 | Bloomfield Hills city | $3,250 |
| 2 | Franklin village(you are here) | $3,175 |
| 3 | Huntington Woods city | $2,266 |
| … 598 more … | ||
| 602 | Martin village | $339 |
| 603 | Amasa CDP | $333 |
| 604 | Kent City village | $325 |
More data for Franklin village, Michigan
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Frequently asked questions
What is the average rent in Franklin village, Michigan?
The median gross rent in Franklin village, Michigan is $3,175/month, based on Census ACS 5-Year estimates (2023). Gross rent includes contract rent plus utilities. Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2023.
What is the average rent for a 2-bedroom in Franklin village, Michigan?
The median rent for a 2-bedroom in Franklin village, Michigan is not available based on Census ACS 5-Year estimates (2023). Source: U.S. Census Bureau, American Community Survey 5-Year Estimates, 2023.
What is the median home value in Franklin village, Michigan?
The median home value in Franklin village, Michigan is $696,700 according to Census ACS 5-Year estimates (2023).
What percentage of renters in Franklin village are rent-burdened?
In Franklin village, Michigan, 3 households pay 50% or more of their income for rent. A household is considered rent-burdened when it spends more than 30% of income on housing costs.
What is the median household income in Franklin village, Michigan?
The median household income in Franklin village, Michigan is $176,571/year according to Census ACS 5-Year estimates (2023).
How reliable is Census ACS data for small areas?
The ACS 5-Year estimates combine 60 months of data for more reliable figures in smaller geographies. Each estimate has a margin of error (MOE). For example, the median rent of $3,175 has a margin of error of ±$852. In very small areas, MOEs can be large relative to the estimate.
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