Total monthly cost of ownership
Cost to Own a Home in Franklin, New Hampshire
A $244,000 home here costs
$2,223per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $968 higher every month — 77% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Franklin against Merrimack County and New Hampshire
| Measure | Franklin | Merrimack County |
|---|---|---|
| Median home value | $243,800 | $330,600 |
| Median property tax | $4,683 | $6,617 |
| Effective tax rate | 1.921% | 2.002% |
| Median gross rent | $1,088 | $1,293 |
| Population | 8,757 | 155,018 |
The weather behind that power bill
Franklin sits in Merrimack County, which averages a high of 80.2°F in its hottest month and a low of 13.2°F in its coldest, with 48.63" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 325 cooling and 7,417 heating degree days, which is what sets the $246 electricity line above.
See the full climate breakdown for Merrimack County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Merrimack County
Full Merrimack County cost breakdown · Every county in New Hampshire
Common questions
How much does it cost to own a home in Franklin?
A $244,000 home in Franklin, New Hampshire costs approximately $2,223 per month with 20% down at 6.66%. That is $1,254 principal and interest, $391 property tax, $61 homeowners insurance, $314 utilities and $203 set aside for maintenance.
What is the property tax rate in Franklin?
Franklin has an effective property tax rate of 1.921%, based on a median home value of $243,800 and median real estate taxes of $4,683. That is lower than the Merrimack County average of 2.002%.
What is the average home price in Franklin?
The median owner-occupied home value in Franklin, New Hampshire is $243,800, against $330,600 across Merrimack County.
Is it cheaper to rent or buy in Franklin?
Median gross rent in Franklin is $1,088 a month, against $2,223 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Franklin — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for New Hampshire.
- 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.