Where to Invest in Indianapolis: Franklin Township
Organized in the 1820s, Franklin Township is another one of the 9 Marion County townships.
Located in the southeast corner, it was one of the last areas in Marion County to see heavy suburban land development.
Despite efforts to maintain a rural atmosphere, Franklin Township has seen a population explosion in recent years.
As of 2016, the population in Franklin Township was 56,462. According to Niche, the current median household income is $71,706.
With an unemployment rate of 3.5% and projected future job growth of 37.5%, Franklin Township has a fairly strong local economy.
Of the 1,293 homes that were sold on the MLS in Franklin Township in the past year, the median sale price was $180,000. Of the 293 homes that were leased in the last year, the median rental amount was $1,295.
According to Niche, 75% of the population owns their homes versus 25% who rent.
Franklin Township Zip Codes
Franklin Township Neighborhoods
- College Corner
- Five Points
- New Bethel
- Poplar Grove
- Raymond Park
- South Emerson
- South Franklin
Examples of Homes T&H Manages in Franklin Township
This is a 3 bed/2 bath 1,104 sq. ft. home we currently manage that was bought by one of our clients for $119,000 with sales comps in the mid 120s-130s. We have it leased at $1,135.
This is a 4 bed/2.5 bath home we manage and it is currently leased for $1,450/month. The assessed value has steadily increased substantially year over year from $177,600 in 2016 to $194,000 for the 2018 tax year. Similar homes in this area go for low to mid 200’s.
Franklin Township Schools
Niche gives Franklin Township schools an overall A. It’s a highly rated public school district with 9,440 students with a 20 to 1 student-teacher ratio.
Out of 291 Indiana school districts, Franklin Township is ranked 24th.
Franklin Township Crime Rates
According to BestPlaces.net, the violent crime rate in Franklin Township is ranked at a 22 out of 100, with the national average being 22.7.
The property crime rate is ranked a 44.9 compared to the national average of 35.4.
These are based on a scale of 1-100 with 1 being the lowest amount of crime to 100 being the high crime.
Franklin Township no doubt offers some great aspects for investors.
It’s a desirable area for families and has proven to be a fairly solid rental market.
The good schools and lower crime rates make this a desirable location for families.
However, it’s a more expensive area to penetrate. You can certainly find cash flow, but Franklin Township is generally more of an appreciation play with home values being on the higher side.