Total monthly cost of ownership
Cost to Own a Home in Franklinton, Louisiana
A $188,000 home here costs
$1,629per 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 $70,000 a year.
A standard mortgage calculator would have told you $1,025. The real number is $604 higher every month, 59% more than the payment most buyers budget for.
Compare Washington Parish with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Franklinton from a five-year rolling sample, and with about 3,615 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 Washington Parish 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.
Franklinton against Washington Parish and Louisiana
| Measure | Franklinton | Washington Parish |
|---|---|---|
| Median home value | $187,500 | $139,400 |
| Median property tax | — | $488 |
| Effective tax rate | 0.350% | 0.350% |
| Median gross rent | $930 | $772 |
| Population | 3,615 | 45,238 |
The weather behind that power bill
Franklinton sits in Washington Parish, which averages a high of 92.4°F in its hottest month and a low of 38.7°F in its coldest, with 63.88" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 2,622 cooling and 1,751 heating degree days, which is what sets the $155 electricity line above.
See the full climate breakdown for Washington Parish , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington Parish
Full Washington Parish cost breakdown · Every county in Louisiana
Talk to someone who works this market
These are Franklinton 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 Franklinton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Franklinton I already own here and may sell
Common questions
How much does it cost to own a home in Franklinton?
A $188,000 home in Franklinton, Louisiana costs approximately $1,629 per month with 20% down at 7.24%. That is $1,025 principal and interest, $55 property tax, $170 homeowners insurance, $223 utilities and $157 set aside for maintenance.
What is the property tax rate in Franklinton?
Place-level tax data is not published for Franklinton, so the Washington Parish rate of 0.350% applies here.
What is the average home price in Franklinton?
The median owner-occupied home value in Franklinton, Louisiana is $187,500, against $139,400 across Washington Parish.
Is it cheaper to rent or buy in Franklinton?
Median gross rent in Franklinton is $930 a month, against $1,629 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 Franklinton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Franklinton, Louisiana at today's rate takes a household income of roughly $70,000 a year. That covers the full $1,629 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Franklinton, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Louisiana.
- 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.