Franklin, Tennessee

Franklin is one of Tennessee's most prominent and fastest-growing communities. Residents enjoy access to the Williamson County school district, a thriving historic downtown, and proximity to Nashville without the urban congestion. The trade-off is cost — Franklin is one of the most expensive places to live in Tennessee, with home prices roughly double the national average. For buyers who can afford it, Franklin offers a quality of life that is hard to match in the Southeast.

Franklin's overall cost of living runs approximately 40 percent above the national average, driven almost entirely by housing. Home prices and rents are significantly above national norms, while groceries, healthcare, and other expenses are closer to average. Tennessee's lack of a state income tax meaningfully offsets the cost burden, and the median household income in Franklin (approaching $120,000) is among the highest in the state.

Franklin is Tennessee's most expensive major market, with the median home value well above the state and national averages. Luxury neighborhoods like Laurelbrooke, Hidden River, and Leiper's Fork regularly see homes transact above $2 million, while more accessible entry points exist in areas like Simmons Ridge, Riverview Park, and parts of Spring Hill (just south of Franklin). See the live market snapshot above for the current median list price.

Popular neighborhoods include Downtown Franklin for historic walkability, Westhaven for resort-style master-planned living, Fieldstone Farms for established community amenities, Cool Springs for corporate-adjacent housing, and Leiper's Fork for rural estate living. Each has distinct character and price points — scroll to the neighborhoods section above for details on the most notable ones.

Franklin's rental market sits well above the national average, reflecting the premium housing market and high household incomes. Luxury apartment complexes in Cool Springs and McEwen command some of the highest rents in Tennessee. Downtown Franklin and Central Franklin neighborhoods also command significant premiums. For more affordable options, renters often look to nearby Spring Hill or Thompson's Station while maintaining easy access to Franklin amenities.