The typical owner-occupied home in Franklinton is worth about $188,500, 13% below the Louisiana median of $216,500 and 43% below the national median of $332,700. The median household earns $34,235 a year, so the median home costs 5.5 times the median income (3.6 times for Louisiana). 41% of occupied homes here are lived in by their owners, and 45% of those owners still have a mortgage.
Franklinton at a glance
| Franklinton | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $188,500 | $216,500 | $332,700 |
| Median property tax paid per year | – | $1,180 | $3,119 |
| Median household income | $34,235 | $60,756 | $80,734 |
| Homes lived in by their owners | 41% | 67% | 65% |
| Owner homes with a mortgage | 45% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,286 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 20.4% | 21.0% |
| Median rent | $808 | $1,064 | $1,413 |
| Rent as a share of renters' income | 35.1% | 32.8% | 30.6% |
| Median year homes were built | 1974 | 1983 | 1980 |
| Vacant homes | 20.9% | 14.4% | 10.1% |
| Population | 3,602 | 4,611,961 | 334,922,499 |
What a typical home costs per month in Franklinton
At this week's average 30-year rate of 7.11%, buying the median Franklinton home of $188,500 with 20% down costs about $1,266 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,580, 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 $54,247 for the 20%-down payment. That payment is 44% of the median Franklinton household income of $34,235; at that income and 20% down, the 28% guideline points to a home of about $119,000.
The median rent here is $808 a month, so owning the median home costs about $458 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,700 |
|---|---|
| Loan amount | $150,800 |
| Principal and interest | $1,014 |
| Property taxes (1.10% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| PMI | $0 |
| Total per month | $1,266 |
Change the numbers in the calculator
| Down payment | $6,598 |
|---|---|
| Loan amount | $185,086 |
| Principal and interest | $1,245 |
| Property taxes (1.10% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| FHA mortgage insurance | $83 |
| Total per month | $1,580 |
Change the numbers in the calculator
Questions about home buying in Franklinton
What is the median home value in Franklinton?
About $188,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Franklinton?
For the median home with 20% down at 7.11%, the payment is about $1,266 a month. Keeping that under 28% of gross income takes about $54,247 a year.
More about Franklinton
- Mortgage Refinance in Franklinton
- Debt Relief in Franklinton
- Home Equity Loans in Franklinton
- 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