Union Place
10 Independence Way,
Franklin, MA 02038
1-2 Beds | $1,996 - $2,935
Rental Market Trends in Franklin, MA
What is the average rent in Franklin, MA?
$2,245/month
Average Rent
636 Sq Ft
Average Apartment Size
-2.1%
Decrease in the Last Year
As of July 2025, the average rent in Franklin, MA is $2,245 per month. This is 37% higher than the national average rent price of $1,637/month, making Franklin one of the most expensive cities in the US. When you rent an apartment in Franklin, you can expect to pay about per month for a studio, $2,245 for a one-bedroom apartment, and around $2,678 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,959 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Franklin, MA?
In the past year, rent has decreased by 2.1%, which averages out to $47 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Franklin, MA
Last Updated July 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
100%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Franklin?
Based on current rent prices, 495-South is the most affordable neighborhood in Franklin.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Franklin?
Based on current rent prices, 495-South is the most expensive neighborhood in Franklin.
Neighborhood
Average Rent
Average Sq Ft
Which Franklin neighborhoods have the most rentals available?
The neighborhood in Franklin with the most apartments available is 495-South .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Franklin, MA?
Because the average rent in Franklin is $2,245, you’ll want to make about $7,483 per month or $89,796 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Franklin, MA compare to other nearby cities and neighborhoods?
Use the tool below to compare Franklin, MA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,322/month
$1,322/month
One Bedroom
$2,324/month
$2,324/month
Two Bedroom
$2,729/month
$2,729/month
Three Bedroom
$3,318/month
$3,318/month
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.