Total monthly cost of ownership
Cost to Own a Home in Franklin Town, Massachusetts
A $567,000 home here costs
$4,423per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $2,915. The real number is $1,508 higher every month — 52% 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 Town against Norfolk County and Massachusetts
| Measure | Franklin Town | Norfolk County |
|---|---|---|
| Median home value | $567,100 | $649,400 |
| Median property tax | $6,751 | $7,081 |
| Effective tax rate | 1.190% | 1.090% |
| Median gross rent | $1,856 | $2,072 |
| Population | 33,067 | 724,540 |
The weather behind that power bill
Franklin Town sits in Norfolk County, which averages a high of 85.7°F in its hottest month and a low of 20.6°F in its coldest, with 43.91" of precipitation a year and 28% of it in a single three-month stretch. That climate drives 828 cooling and 5,540 heating degree days, which is what sets the $259 electricity line above.
See the full climate breakdown for Norfolk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Norfolk County
Full Norfolk County cost breakdown · Every county in Massachusetts
Common questions
How much does it cost to own a home in Franklin Town?
A $567,000 home in Franklin Town, Massachusetts costs approximately $4,423 per month with 20% down at 6.66%. That is $2,915 principal and interest, $562 property tax, $146 homeowners insurance, $327 utilities and $473 set aside for maintenance.
What is the property tax rate in Franklin Town?
Franklin Town has an effective property tax rate of 1.190%, based on a median home value of $567,100 and median real estate taxes of $6,751. That is higher than the Norfolk County average of 1.090%.
What is the average home price in Franklin Town?
The median owner-occupied home value in Franklin Town, Massachusetts is $567,100, against $649,400 across Norfolk County.
Is it cheaper to rent or buy in Franklin Town?
Median gross rent in Franklin Town is $1,856 a month, against $4,423 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 Town — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Massachusetts.
- 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.