Total monthly cost of ownership
Cost to Own a Home in Franklin Springs, Georgia
A $180,000 home here costs
$1,591per 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 $68,000 a year.
A standard mortgage calculator would have told you $981. The real number is $610 higher every month, 62% more than the payment most buyers budget for.
Compare Franklin County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Franklin Springs from a five-year rolling sample, and with about 1,086 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Franklin County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Franklin Springs against Franklin County and Georgia
| Measure | Franklin Springs | Franklin County |
|---|---|---|
| Median home value | $179,500 | $160,600 |
| Median property tax | $1,712 | $1,231 |
| Effective tax rate | 0.954% | 0.767% |
| Median gross rent | $962 | $778 |
| Population | 1,086 | 23,840 |
The weather behind that power bill
Franklin Springs sits in Franklin County, which averages a high of 88.7°F in its hottest month and a low of 33.6°F in its coldest, with 48.99" of precipitation a year and 27% of it in a single three-month stretch. That climate drives 1,666 cooling and 2,960 heating degree days, which is what sets the $171 electricity line above.
See the full climate breakdown for Franklin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Franklin County
Full Franklin County cost breakdown · Every county in Georgia
Talk to someone who works this market
These are Franklin Springs 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 Springs every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Franklin Springs I already own here and may sell
Common questions
How much does it cost to own a home in Franklin Springs?
A $180,000 home in Franklin Springs, Georgia costs approximately $1,591 per month with 20% down at 7.24%. That is $981 principal and interest, $143 property tax, $78 homeowners insurance, $239 utilities and $150 set aside for maintenance.
What is the property tax rate in Franklin Springs?
Franklin Springs has an effective property tax rate of 0.954%, based on a median home value of $179,500 and median real estate taxes of $1,712. That is higher than the Franklin County average of 0.767%.
What is the average home price in Franklin Springs?
The median owner-occupied home value in Franklin Springs, Georgia is $179,500, against $160,600 across Franklin County.
Is it cheaper to rent or buy in Franklin Springs?
Median gross rent in Franklin Springs is $962 a month, against $1,591 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 Springs?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Franklin Springs, Georgia at today's rate takes a household income of roughly $68,000 a year. That covers the full $1,591 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Franklin Springs, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Georgia.
- 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.