Rent, population, and median household income are important factors to consider for a 1031 exchange in Franklin due to their correlations with market demand, and conversely, vacancy rate.
Surrounding submarket Area
Franklin, Tennessee is a part of the Brentwood/Williamson County Submarket submarket area, and contains 5 zip codes: 37069, 37065, 37064, 37068, and 37067.
Franklin Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Franklin, TN submarket area was $1,351, which is 15.17% higher than 2014 average rent. This represents a compounded annual growth rate of 2.87%. 2019 vacancy in Franklin, TN was 5.80%.
The total population of the city of Franklin, TN has grown 29.49% since 2010. As of 2018, the population was 80,914. The median household income of the Franklin was $94,808, which is 57.25% higher than the national average.
- submarket area Brentwood / Williamson County Submarket
- avg rent $1,351
- rent growth 15.17%
- vacancy 5.80%
- median income $94,808
- population (2018) 80,914
- population growth 29.49%
- vs. nat'l avg 57.25%
- zip codes 37064 37065 37067 37068 37069