Union Place
10 Independence Way,
Franklin, MA 02038
1-2 Beds | $1,904 - $2,822
Rental Market Trends in Franklin, MA
Updated July 2026
The average rent in Franklin, MA is $2,230/month.
Rent in Franklin is 34% higher than the national average rent of $1,663/month, making this one of the more expensive cities statewide.
$2,230/month
Average Rent
606 Sq Ft
Average Size
-2.7%
Change / Year
174
Available Apartments
Franklin rent varies by unit size and layout:
- Studio apartments in Franklin average $2,759 per month.
- One-bedroom apartments in Franklin average $2,230 per month.
- Two-bedroom apartments in Franklin average $2,630 per month.
- Three-bedroom apartments in Franklin average $3,109 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Franklin, MA?
In the past year, rent has decreased by 2.7%, which averages out to $61 less per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Franklin, MA
July 2026
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
12%
$1,501 - $2,000/month
88%
Above $2,000/month
Rent by Neighborhood
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 $2,230, you’ll want to make about $7,433 per month or $89,196 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.
View the Franklin Area GuideStudio
$1,639/month
$1,639/month
One Bedroom
$2,295/month
$2,295/month
Two Bedroom
$2,662/month
$2,662/month
Three Bedroom
$3,493/month
$3,493/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Franklin We Think You'll Love
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Frequently Asked Questions
What is the average rent in Franklin?
The average rent in Franklin is $2,230 per month, which is 34.1% higher than the national average of $1,663.
Are rents going up or down in Franklin?
Rents in Franklin, MA are decreasing, with prices down 2.7% year-over-year and $61 less per month.
What rent range is most common in Franklin?
In Franklin, MA, 88% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.