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Real Estate Prices & Overview

Franklin Northwest median real estate price is $291,149, which is more expensive than 65.8% of the neighborhoods in Indiana and 37.6% of the neighborhoods in the U.S.

The average rental price in Franklin Northwest is currently $1,625, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 65.1% of the neighborhoods in Indiana.

Franklin Northwest is a rural neighborhood (based on population density) located in Franklin, Indiana.

Franklin Northwest real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Franklin Northwest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Franklin Northwest are 3.9%, which is lower than one will find in 74.1% of American neighborhoods. Demand for real estate in Franklin Northwest is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Franklin Northwest neighborhood in Franklin are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 59.2% of the neighborhoods in America. With 13.4% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 56.9% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Franklin Northwest neighborhood, 33.9% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.9%), and 21.3% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Franklin Northwest neighborhood is English, spoken by 95.9% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Franklin Northwest neighborhood in Franklin, IN, residents most commonly identify their ethnicity or ancestry as German (11.5%). There are also a number of people of Irish ancestry (8.0%), and residents who report English roots (7.3%), and some of the residents are also of Asian ancestry (2.6%), along with some Scottish ancestry residents (1.9%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Franklin Northwest neighborhood spend under 15 minutes commuting one-way to work (34.1% of working residents), one of the shortest commutes across America.

Here most residents (84.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (7.2%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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