Total monthly cost of ownership
Cost to Own a Home in Franklinton, Louisiana
A $188,000 home here costs
$1,543per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $967. The real number is $576 higher every month — 60% 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.
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 $127 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
Common questions
How much does it cost to own a home in Franklinton?
A $188,000 home in Franklinton, Louisiana costs approximately $1,543 per month with 20% down at 6.66%. That is $967 principal and interest, $55 property tax, $170 homeowners insurance, $195 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 $1,543 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 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.