Where to Invest in Indianapolis: Franklin Township

Jul 21, 2019 10:00:00 AM

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 franklin township outlinesuburban 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 Profile Report

Download Graphic as a PDF!

 

Franklin Township Zip Codes

  • 46107
  • 46203
  • 46237
  • 46239
  • 46259

Franklin Township Neighborhoods

  • Acton
  • College Corner
  • Five Points
  • Galludet
  • New Bethel
  • Poplar Grove
  • Raymond Park
  • South Emerson
  • South Franklin
  • Southeast
  • Wanamaker

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.

parterra

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. 

Bruin

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.

Conclusion

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. 

 

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Devon L. Hicks

Written by Devon L. Hicks

As well as being a licensed Realtor, Devon has her Bachelors in Marketing from Missouri State University and utilizes her skills in a variety of ways to educate and advise real estate investors in the Central Indiana region.