The typical owner-occupied home in Franklin County is worth about $130,800, 30% below the Arkansas median of $188,000 and 61% below the national median of $332,700. Owners pay a median $645 a year in property taxes, about 0.49% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $55,886 a year, so the median home costs 2.3 times the median income (3.1 times for Arkansas). 78% of occupied homes here are lived in by their owners, and 47% of those owners still have a mortgage.
Franklin County at a glance
| Franklin County | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $130,800 | $188,000 | $332,700 |
| Median property tax paid per year | $645 | $1,040 | $3,119 |
| Property tax as a share of value | 0.49% | 0.55% | 0.94% |
| Median household income | $55,886 | $60,773 | $80,734 |
| Homes lived in by their owners | 78% | 66% | 65% |
| Owner homes with a mortgage | 47% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $1,149 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 18.5% | 21.0% |
| Median rent | $719 | $947 | $1,413 |
| Rent as a share of renters' income | 25.9% | 27.6% | 30.6% |
| Median year homes were built | 1985 | 1987 | 1980 |
| Vacant homes | 9.1% | 13.5% | 10.1% |
| Population | 17,326 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Franklin County
At this week's average 30-year rate of 7.11%, buying the median Franklin County home of $130,800 with 20% down costs about $812 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,030, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $34,793 for the 20%-down payment. That payment is 17% of the median Franklin County household income of $55,886; at that income and 20% down, the 28% guideline points to a home of about $210,000.
The median rent here is $719 a month, so owning the median home costs about $93 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,160 |
|---|---|
| Loan amount | $104,640 |
| Principal and interest | $704 |
| Property taxes (0.49% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| PMI | $0 |
| Total per month | $812 |
Change the numbers in the calculator
| Down payment | $4,578 |
|---|---|
| Loan amount | $128,431 |
| Principal and interest | $864 |
| Property taxes (0.49% a year) | $53 |
| Homeowners insurance (our estimate, 0.5% a year) | $54 |
| FHA mortgage insurance | $58 |
| Total per month | $1,030 |
Change the numbers in the calculator
Questions about home buying in Franklin County
What is the median home value in Franklin County?
About $130,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Franklin County?
Homeowners pay a median $645 a year, which is about 0.49% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Franklin County?
For the median home with 20% down at 7.11%, the payment is about $812 a month. Keeping that under 28% of gross income takes about $34,793 a year.
More about Franklin County
- Mortgage Refinance in Franklin County
- Debt Relief in Franklin County
- Home Equity Loans in Franklin County
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data