Cheap Homes for Sale in Franklin, TN

The median home sale price in Franklin is around $1,078,900. However, prices vary significantly by neighborhood, home size, and property type. Some communities have homes priced well below the citywide median, while luxury neighborhoods reach well above $1.5 million.

Yes, Franklin can be a good choice for buyers looking for strong communities, quality schools, and access to Nashville-area jobs and amenities. The city will offer you a mix of historic neighborhoods, master-planned communities, newer developments, and larger properties, giving you a wide range of options to look into.

Popular family-friendly neighborhood choices include Westhaven, McKay's Mill, Ladd Park, and Berry Farms. Westhaven offers extensive amenities, pools, trails, and a walkable village center, while McKay's Mill has established neighborhoods, a pool, tennis facilities, and convenient access to schools and shopping. Other options with family-oriented amenities and newer housing include Ladd Park and Berry Farms.

Westhaven, Historic Downtown Franklin, and Laurelbrooke are among the most desirable areas in Franklin. Westhaven is known for its master-planned community and extensive amenities; Downtown Franklin offers historic character and walkability, while Laurelbrooke features large luxury homes, private lots, and upscale amenities.

You would need a household income of around $262,500 per year to afford a median-priced home in Franklin. Your actual income requirement will depend on your down payment, mortgage rate, property taxes, insurance, and other monthly debts.

The primary reason Franklin home prices are high is that high buyer demand for housing greatly outpaces the available housing supply in the city. Moreover, desirable schools, limited housing in some established communities, and its proximity to Nashville are some other reasons. The city also attracts buyers looking for upscale neighborhoods, newer homes, and amenities. This keeps the demand strong across many parts of Franklin.

Property taxes in Franklin, like most other cities, depend on the home's assessed value and the local taxing districts. As of 2026, the City of Franklin's property tax rate is $0.296 per $100 of assessed value, while the total rate is higher after county and school district taxes are included.

Yes, Franklin can be an attractive real estate market for investors. Franklin offers strong housing demand, population growth, and proximity to Nashville. However, Franklin's relatively high home prices mean you should carefully compare purchase prices, rental income, taxes, HOA costs, and expected appreciation before buying a house.