Total monthly cost of ownership
Cost to Own a Home in Franklin, Texas
A $171,000 home here costs
$1,513per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $879. The real number is $634 higher every month — 72% 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 Robertson County and Texas
| Measure | Franklin | Robertson County |
|---|---|---|
| Median home value | $171,000 | $172,700 |
| Median property tax | $1,947 | $1,583 |
| Effective tax rate | 1.139% | 0.917% |
| Median gross rent | $795 | $773 |
| Population | 1,498 | 16,973 |
The weather behind that power bill
Franklin sits in Robertson County, which averages a high of 95.8°F in its hottest month and a low of 39.4°F in its coldest, with 40.61" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,864 cooling and 1,764 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Robertson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Robertson County
Full Robertson County cost breakdown · Every county in Texas
Common questions
How much does it cost to own a home in Franklin?
A $171,000 home in Franklin, Texas costs approximately $1,513 per month with 20% down at 6.66%. That is $879 principal and interest, $162 property tax, $113 homeowners insurance, $216 utilities and $143 set aside for maintenance.
What is the property tax rate in Franklin?
Franklin has an effective property tax rate of 1.139%, based on a median home value of $171,000 and median real estate taxes of $1,947. That is higher than the Robertson County average of 0.917%.
What is the average home price in Franklin?
The median owner-occupied home value in Franklin, Texas is $171,000, against $172,700 across Robertson County.
Is it cheaper to rent or buy in Franklin?
Median gross rent in Franklin is $795 a month, against $1,513 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 Texas.
- 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.