Total monthly cost of ownership
Cost to Own a Home in Franklin (Merced County), California
A $286,000 home here costs
$2,232per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $95,500 a year.
A standard mortgage calculator would have told you $1,559. The real number is $673 higher every month, 43% more than the payment most buyers budget for.
Compare Merced County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Franklin (Merced County) against Merced County and California
| Measure | Franklin (Merced County) | Merced County |
|---|---|---|
| Median home value | $285,700 | $368,400 |
| Median property tax | $2,071 | $2,487 |
| Effective tax rate | 0.725% | 0.675% |
| Median gross rent | $1,450 | $1,284 |
| Population | 7,487 | 285,597 |
The weather behind that power bill
Franklin (Merced County) sits in Merced County, which averages a high of 95.6°F in its hottest month and a low of 34.3°F in its coldest, with 10.45" of precipitation a year and 59% of it in a single three-month stretch. That climate drives 980 cooling and 2,909 heating degree days, which is what sets the $150 electricity line above.
See the full climate breakdown for Merced County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Merced County
Full Merced County cost breakdown · Every county in California
Talk to someone who works this market
These are Franklin (Merced County) averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Franklin (Merced County) every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Franklin (Merced County) I already own here and may sell
Common questions
How much does it cost to own a home in Franklin (Merced County)?
A $286,000 home in Franklin (Merced County), California costs approximately $2,232 per month with 20% down at 7.24%. That is $1,559 principal and interest, $173 property tax, $44 homeowners insurance, $218 utilities and $238 set aside for maintenance.
What is the property tax rate in Franklin (Merced County)?
Franklin (Merced County) has an effective property tax rate of 0.725%, based on a median home value of $285,700 and median real estate taxes of $2,071. That is higher than the Merced County average of 0.675%.
What is the average home price in Franklin (Merced County)?
The median owner-occupied home value in Franklin (Merced County), California is $285,700, against $368,400 across Merced County.
Is it cheaper to rent or buy in Franklin (Merced County)?
Median gross rent in Franklin (Merced County) is $1,450 a month, against $2,232 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Franklin (Merced County)?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Franklin (Merced County), California at today's rate takes a household income of roughly $95,500 a year. That covers the full $2,232 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Franklin (Merced County), US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for California.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.